Spawn Point

<p>EPISODE NOTES<br>Roblox grew revenue 36% and had its hardest day as a public company — on purpose. The audio edition of the August 6 director briefing: the algorithm trade, the litigation map, and the three words the whole thesis rests on.</p><p>SHOW NOTES<br>Roblox's Q2 print is the first full income statement of a decision the company made deliberately: spend near-term monetization buying long-term trust. We call it trust capex — a capital investment in the platform's license to operate, carried entirely on the income statement, with no line item and no disclosed date of return.</p><p>Chap...