Discl: Held IRL 5.23%, and in SM

Just watched a Tony Abrahams interview on MediaTechTalk released a day ago.

As with all Tony interviews, 95% of the story is familiar, but I still end up walking away engaged throughout the interview, and with some new nuggets of information that I find valuable in further entrenching my already-high conviction:

He ended the session with this quote from the late Leonne Jackson, AIM co-founder:

Accessibility benefits everyone - access to communication should never be a privilege - that conviction is in every product that we ship today. 

This point alone resonated with me as this is what David Gardner talks about in the 4th Habit of a Rule Breaker Investor - Follow the Four Tenets of Conscious Capitalism where the 1s tenet is “Invest in companies who put purpose over profit and the Snap Test (would anyone notice or anyone care if the company disappears overnight)”. I think I just found clarity in AIM’s purpose and Snap Test ....

Other Points:

- 86% of 18-24 year olds watch everything with captions - this emphasises the necessity of the AIM product. I absolutely see this in my 17 year old daughter (I can’t stand the captions!)

- Aust had Disability Legislation mandating captioning in 2000, which gave rise to AIM, Europe passed the European Accessibility Act legislation in June 2026, AIM now does not have the same growth constraint that it had with re-speakers, to meet this European legislative-driven demand

- Emphasised the deep integration to each customers media-management systems to provide the customer-centric context for the captioning and translations - this was built during the re-speaker period

- Spent ~$40m to build the technology between 2010 and 2020 - always knew that AI would appear, but did not know WHEN that would happen - the re-speakers were an intermediary solution

• This is another key attribute that I like in my companies - investing to build the capability to scale up ahead of time, so that the technology stack readiness to scale is not a hindrance, there is no catch up, it is execution
• CAT did the same thing when Will Lopes came onboard, as did SDR during Covid

- We are not re-building any core technology that is out there - we are reapplying that technology to B2B workflows in a live environment - this is really worth re-emphasising with respect to competition

- Growth of EEG encoder country’s - took 18M to get the 1st country outside of the US to work, 6M to the second country working, 4 years later in 39 countries - core broadcasting standard differences that needed to be overcome between the US and the Rest of the World

- US Broadcasters are coming to AIM - spending 4x more than what they were spending 4 years ago, but saving $3-$5m per year from eliminating humans in the loop, every other country, need to knock on doors