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	Podcast:		Yet Another Value Podcast
	Episode:		Randy Baron's bull case on $GDS
	Category:		Business
	Duration:		01:02:49
	Publish Date:		2022-04-22 14:00:00
	Description:		One of the people's favorite guests, Randy Baron, returns to the podcast to talk about his thesis for GDS. GDS is a Chinese data center company, and Randy goes in depth into the company, including why their tier 1 footprint gives them a moat, how GDS is trading at a discount to private market values, and why ADR and VIE fears may be overblown. My notes on GDS: https://twitter.com/YetAnotherValue/status/1516805266565644289?s=20&t=_7FcaMp4YYgZ1S4htJXz6g Randy's first podcast on AMRS: https://twitter.com/AndrewRangeley/status/1407669290241777666?s=20 Randy's second podcast on RNLX: https://twitter.com/AndrewRangeley/status/1448604500009242632?s=20 Tubes (data center book mentioned in the pod): https://amzn.to/3rKUxRq Chapters 0:00 Intro 2:20 Data Center Overview 9:10 Chinese Data Center overview 11:20 Randy's history with GDS 17:45 GDS valuation versus private market comps 24:00 What does Randy see in GDS that the market is missing? 28:45 GDS's international expansion plans 34:00 Why does GDS's tier 1 footprint give them a moat? 39:50 GDS's M&A and growth ambitions 47:30 GDS's recent raise from Sequoia China and peer VNET's acquisition offer 52:15 The China ADR and VIE issues 58:55 Wrapping up the GDS thesis
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