The main think I like about Audinate (and Pro Medicus) is they are creating an interoperable platform across multiple vendors proprietary equipment. This is somewhat similar to how Microsoft shifted the value from IBM PCs to the DOS/Windows platform back in the day to create an effective monopoly and leverage network effects (excuse the pun). The hardware then becomes a commodity. Controlling audio and video is not quite the same as a full operating system but it does make me wonder where they go with this once they are ubiquitous. Certainly owning that base software layer is a powerful position to leverage with add on capability such as AI. 

I'm not selling. It is clearly overvalued on conventional metrics but it is basically becoming a monopoly with potentially lucrative new revenue streams.

These businesses are few and far between. It is now 8% of my super and am happy to watch the ups and downs from here.

I suspect we will get a bit of a buying opportunity after the full year results due to a perceived "weaker" 1/2. This has been flagged by management due to the exceptional result achieved by the catch up post covid.

a top 5 holding