{"title": "Qt and Revenio delivered a beating | Kevin van Dessel | Negotiator 207", "titleOriginal": "Qt ja Revenio toi turskaa | Kevin van Dessel | Neuvottelija 207", "episodeNumber": "207", "guest": "Kevin van Dessel", "publishedAt": "2023-08-16", "duration": "17:19", "durationIso": "PT17M19S", "youtube": "https://www.youtube.com/watch?v=WQczjsorlAk", "fiCanonical": "https://www.neuvottelija.fi/fi/episodes/466-qt-ja-revenio-toi-turskaa-kevin-van-dessel-neuvottelija-207", "originalLanguage": "fi", "format": "full", "topics": ["investing_markets", "saas_software"], "description": "Kevin van Dessel joins Sami Miettinen for a short episode on two crowd favourites of the Finnish bargain bin, Qt and Revenio, both punished with heavy share price falls after the second quarter. It explains Qt's licensing model — developer licences, distribution licences and consulting — and why Revenio is the mirror image of Qt in the same hardware-to-software transition. It closes on a thesis about rates: an inverted yield curve offers the same multiple reversal without company-specific risk. Nothing in it is investment advice.", "chapters": [{"t": "00:00", "title": "Kevin van Dessel of Sijoituskästi, for the second time", "seconds": 0}, {"t": "00:41", "title": "A bull market a year ago, and Finland's bargain bin", "seconds": 41}, {"t": "01:44", "title": "Qt and Revenio punished for their Q2 results", "seconds": 104}, {"t": "02:21", "title": "What Qt is: a tool for software developers", "seconds": 141}, {"t": "03:34", "title": "Developer licences, distribution licences and consulting", "seconds": 214}, {"t": "05:17", "title": "Value moves from hardware to software", "seconds": 317}, {"t": "07:01", "title": "Qt's valuation from 170 euros to 66", "seconds": 421}, {"t": "08:56", "title": "Revenio: eye pressure meters and niche dominance", "seconds": 536}, {"t": "10:20", "title": "Qt and Revenio are each other's opposites", "seconds": 620}, {"t": "11:01", "title": "Hardware-enabled SaaS from an adviser's point of view", "seconds": 661}, {"t": "12:03", "title": "The risk of walking over your customers", "seconds": 723}, {"t": "13:09", "title": "Investor psychology at a 50 per cent loss", "seconds": 789}, {"t": "13:58", "title": "Rates, and the bull case for growth companies", "seconds": 838}, {"t": "14:47", "title": "US Treasuries and the inverted yield curve", "seconds": 887}, {"t": "15:58", "title": "A young investor and the grandfather business of bonds", "seconds": 958}, {"t": "16:46", "title": "Inner Circle: will Sijoituskästi overtake Rahapodi", "seconds": 1006}], "sourceTranscriptType": "none", "subtitleMethod": "none", "provenance": "Owner page assembled from YouTube metadata, the neuvottelija.fi episode record and the publisher's own chapter marks, translated one for one; their spacing is irregular and matches the recording. No transcript is published here — the channel has no English caption track for this episode and the Finnish one is YouTube's automatic track. Both participants discuss shares they may hold and nothing in the episode is investment advice, which the long-form write-up in the Neuvottelija AI editions states.", "coreTheses": ["Qt and Revenio are mirror images in the same hardware-to-software transition, which is why they fell for opposite reasons.", "A software licensing model has three distinct revenue lines, and conflating them is how the valuation went wrong.", "An inverted yield curve offers a similar multiple reversal without company-specific risk, which is the closing argument.", "Both participants discuss holdings and nothing here is investment advice."], "slug": "ep207-qt-ja-revenio-toi-turskaa-kevin-van-dessel", "guestsCanonical": ["Kevin van Dessel"], "guestPages": ["https://www.neuvottelija.com/podcast/guests/kevin-van-dessel/"], "page": "https://www.neuvottelija.com/podcast/episodes/ep207-qt-ja-revenio-toi-turskaa-kevin-van-dessel/", "markdown": "https://www.neuvottelija.com/podcast/episodes/ep207-qt-ja-revenio-toi-turskaa-kevin-van-dessel/index.md", "captions": null, "transcript": null, "videoId": "WQczjsorlAk", "dbId": null, "qaCoveragePct": 0.0, "qaSemanticVerdict": "metadata_only", "aiArticleEn": "https://www.neuvottelija.com/ai/ep207-qt-ja-revenio-toi-turskaa-kevin-van-dessel/", "aiArticleFi": "https://www.neuvottelija.fi/economy/ep207-qt-ja-revenio-toi-turskaa-kevin-van-dessel/"}