Deep research on companies with 10x+ potential. Concentrated. Contrarian. | $LMND $TSLA $DUOL $HIMS substack: multibaggerresearch.substack…
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"Isn't $LMND just another insurtech?"
This chart can lay that argument to rest.
Customers per employee, 2020–2025:
$LMND vs. $ROOT vs. 7 major incumbents.
$ROOT is the perfect test case. Same era. Same "insurtech" label. Same direct-to-consumer P&C model. Public company with clean data.
$ROOT at 457 customers per employee.
GEICO at 568.
Progressive at 514.
Root IS the incumbent band.
Why? $ROOT innovation was telematics — better pricing through driving data. That helped them reach profitability. But it didn't change how many humans they need to operate.
Root hired 341 people last year to add 73K policies. $LMND hired 47 to add 570K.
That's not a difference of degree. It's a difference of kind.
$LMND didn't just digitize the front end. AI Maya underwrites. AI Jim handles claims. The marginal customer costs almost nothing to serve.
$ROOT used tech to price better. $LMND used AI to run the company.
That's why one curve compounds and the other flatlines.
This also kills the bear argument that competitors will "just copy $LMND playbook."
$ROOT has been trying for 9 years. Backed by $1.2B+ in funding. Public since 2020. Building technology from scratch with no legacy constraints.
And they still ended up in the incumbent band.
If a well-funded, tech-native insurtech with zero legacy baggage can't replicate this efficiency curve, what makes anyone think State Farm or Allstate will?
$LMND AI-first architecture isn't a feature. It's a compound advantage that gets harder to replicate every quarter — because every new customer, claim, and interaction feeds the models that make the next one cheaper to serve.
The moat isn’t JUST the AI operating system running the company. It’s 3 million customers (and growing) training the AI.
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It is shocking how cheap $ICP is.
It has the most innovative tech in crypto.
It has a cult worshipping base of supporters.
When this thing goes it will go.
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I’ve never seen $ICP sentiment this low.
Low sentiment is the greatest time to buy if you have conviction.
And I have conviction.
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If $ICP is successful, it will be a fascinating case study in market psychology.
How was this unrivaled technology disrespected by the market for so many years?
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$ICP is possibly the most ambitious project (stock or crypto) that is below a $10 billion market cap.
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Call me crazy but @BitcoinFrogs are the greatest #Bitcoin Ordinal collection and are EXTREMELY cheap!
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$ICP is a different beast. The amount of R&D that has gone into $ICP is apparent in its capabilities.
As it becomes mere usable its superiority will become evident.
@caffeineai is a major step in that direction.
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$ICP has no competitors:
1. Governance: the NNS is the best DAO governance system
2. Tokenomics: this ties in with governance. Individuals who lock their tokens for 8 years get the most voting power as well as yield. Also the nodes are paid in USD value so as $ICP goes up in value there is less inflation.
3. Vision: $Icp is building a new and better internet. No one else is attempting this.
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Part of me really thinks o should just put every spare cent I can find into $ICP here.
The other part of me thinks that is the dumbest idea I’ve ever had.
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Francis
$ICP has struggled with adoption. But this is for a good reason. $ICP is a new paradigm. An evolved version of the internet.
This means the builders have a larger learning curve than your typical blockchain architecture. Typical blockchains are a copy paste of one another but not $ICP.
$ICP is an ambitious revolutionary project building a more decentralized, free, and sovereign internet.
As with the early Internet which people equated with email $ICP and its implications are not well understood.
We are early.
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Price leads narrative. If something is truly useful eventually price goes up. Once price goes up (free marketing) everyone learns about it. Once everyone learns about it more infrastructure (applications) are built.
$icp is trying to be the most useful blockchain and is the only full stack blockchain that I am aware of. The $Icp narrative has just started!
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I just fomod into $icp
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$icp NNS is the best DAO system I’ve ever interacted with by far
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$ICP @caffeineai looks like it will release tomorrow.
This is possibly the most anticipated $ICP launch in history.
If you want to understand why on a deeper level check out the interview below 👇
piped.video/Tao8ZhXFDSo?si=P64M…
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$ICP has had a rough start in terms of price action. As a result many see it as a scam or immediately discount it as an investment.
We still havnt even confirmed an uptrend after this brutal price action.
Considering how advanced $ICP tech is I believe its first bull market could be as explosive as its bear market.
If correct, what an opportunity this unfortunate launch has provided us!
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I think @BitcoinFrogs is set to be the cryptopunks of ordinals. They did a lot right starting with the free mint and correcting the misprint mistake. The community is educators and supporters of the Bitcoin network
Hodling my 2 frogs!
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$ICP continues to be the most contrarian play in crypto.
Contrarian plays are not always correct but when they are they are the most explosively bullish.
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$ICP is severely undervalued and it’s largely a case of poor sentiment due to sustained bearish price action.
But let’s see what happens when it begins to have sustained bullish price action and the sentiment flips. Something it has never had.
We aren't talking enough about the Internet Computer Protocol (@icphubs).
The Internet Computer (ICP) runs entirely onchain, eliminating the need for traditional cloud infrastructure. In just four years, it has brought the vision of a “World Computer” to life and evolved into a fully fledged enterprise-grade solution, designed to support scalable, secure, and decentralized applications.
I am happy to announce IBC Group’s partnership with ICP HUBS Network. A live event is taking place in Zurich, CH, on June 03 to celebrate this partnership and the larger vision of the Internet Computer.
Our Director of Incubations at @ibcgroupio, @DavidePasini, will be attending as part of the jury, and we’ll be selecting kick-ass ICP startups to support in their journey to launch and beyond.
The future is being built right before our eyes.
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$ICP is about to do an inverse version of what it did its first 2 years…
It will be gloriously violent.
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Will @caffeineai have a token?
$ICP
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Best $BTC memecoins to buy:
Safe but still massive upside:
1. $BDC @billydollarcat
2. $PUPS @PupsToken
BEAST MODE:
3. $DEDE @DERANGEDBTCRUNE
4. $BRO @btcbrobear
5. $SAIKO @SaikoHamster
6. $BIP @basednetpanda
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A $PATH re-rating appears to be occurring.
Shout out to @jakebrowatzke for calling this stock out on perfect timing.
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FOMO is starting to kick in and volume is picking up…
The next $BDC run is about to start!
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Some of these Runes will change lives!
$BDC @billydollarcat
$BIP @basednetpanda
$SILLY @StupidSillyCat_
$DOG @dogbtc_
$SAIKO @SaikoHamster
$CATS @catsinthesats
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$BDC is the most organic Rune & as a result has the strongest community.
We’re heading for 10k holders!
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Is artificial intelligence and @caffeineai (the self writing internet) the forcing function for $ICP adoption as @dominic_w believes?
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It’s interesting that both $TAO and $ICP most interesting product at the moment is a self writing internet product. @ridges_ai & @caffeineai
I give @caffeineai the edge here because it’s very usable today and everything it builds exists 100% on the $ICP blockchain (no AWS or centralized services).
It would be fascinating if they could be combined somehow. I believe $ICP has mastered the physics and technical limitations of blockchains better than anyone whereas $TAO has mastered the human incentives of blockchain better than anyone.
What an amazing synergy they could have together combining these two strengths!
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My top rune holdings in rough order.
(BDC is BY FAR my largest)
1. $BDC @billydollarcat
2. $SAIKO @SaikoHamster
3. $GIZMO @GizmoImaginary
4. $BPM @BTCPepeMatrix
5. $MRYEN @YenTecSolutions
6. $BIP @basednetpanda
7. $BOZO @BOZO_Rune
8. $CATS @catsinthesats
9. $BAR @basedangelsbtc
10. $PUPS @PupsToken
11. $WZRD
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I have extreme $Icp fomo.
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$BDC has already survived an 80% + drawback.
The community is based.
Get on board or miss out.
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I grabbed 2 @MotokoGhosts yesterday. These are the coolest NFTs I’ve found on $icp so far
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Finally some price relief for $ICP. The first relative strength in a while.
And it’s off the reveal and release date for @caffeineai.
All of you $ICP bulls have some serious balls going against the grain.
Let’s see if it’s finally time for it to start paying off 🫡
$ICP/ $BTC $ICP/ $ETH $ICP/ $SOL
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Web3 is finally on the horizon…
$ICP has the best tech.
Now it needs the network effects.
@caffeineai is a massive step forward in that direction.
Being able to create a full stack application with just a few words that exists entirely on the blockchain is true alien technology.
No Amazon Web Services like every other blockchain uses.
Pure decentralized sovereign applications created with only words.
Web3 is finally on the horizon…
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Why $ICP Stands Has No Competition
Most altcoins are just a token on top of the old internet.
Their apps? Still hosted on Amazon, Google, or Microsoft servers.
Their websites? Still centralized.
$ICP is different.
It runs everything — smart contracts, apps, websites — directly on the blockchain.
No AWS. No Big Tech middlemen. No hidden weak points.
It’s not a patch on the old system.
It’s a new internet — decentralized, scalable, and censorship-resistant by design.
ICP isn’t another altcoin.
It’s a new more decentralized internet.
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The $Icp community is absolutely insane! The engagement & passion is unreal
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$IBRX has my attention
After 50 years of unraveling cancer's diabolical nature, Dr. Patrick Soon-Shiong reveals a paradigm shift: We've been fighting cancer all wrong.
The old war of attrition with high-dose chemo and radiation is failing. Cancer is a clever, adaptive entity that hides from our immune system. The new strategy is not to destroy, but to outsmart.
The 5-Step Algorithm for the Cancer Battlefield:
1. SMOKE IT OUT: Use tiny, metronomic doses of chemo or SBRT radiation not to kill, but to stress the tumor. This forces it to "expose" itself by expressing surface markers it was hiding.
2. ACTIVATE & PROLIFERATE: Simultaneously, administer a "BioShield"—
a subcutaneous injection that activates and amplifies your Natural Killer (NK) cells and killer T-cells, preparing the army.
3. EDUCATE THE T-CELLS: Use a vaccine to educate T-cells to recognize the tumor's unique, foreign molecules. This creates "memory" T-cells for long-term immunity.
4. ACTIVATE THE MACROPHAGES: Turn the body's macrophages into killer macrophages, adding another branch to the coordinated attack.
5. SUPPRESS THE SUPPRESSORS: Neutralize the body's own immune-suppressor cells that the tumor exploits.
This coordinated, multi-pronged attack uses the tumor itself as a vaccine. The result? We now have bladder cancer patients who would have lost their bladder in complete remission for over nine years.
And the best part? This is all done as an outpatient protocol. No hair loss. No debilitating sickness. We are moving from a war of poison to a war of precision, orchestrating the body's own exquisite systems to achieve victory.
The future of cancer therapy is not more destruction—it's more intelligence.
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$ICP is near all time lows against all majors…
$ICP is touted as having the best tech in blockchain which I agree with. It is currently the only blockchain you can build full stack applications on. Both storage and compute can be handled natively through the $ICP blockchain. I’m bullish long term on $ICP but I’m very glad it’s not my largest position.
I think it’s obvious that there are difficult problems that $ICP faces that won’t be solved overnight:
1. User experience still sucks. All wallets and DEXs have a worse user experience than competitors at a similar market cap.
2. Most $ICP holders are under water due to its launch at an incredibly high valuation. This creates a very tumultuous community.
3. Almost all SNS DAO launches have been underwhelming. These projects have almost all provided very minimal liquidity to LPs despite raising plenty of money and many have failed to execute beyond that as well.
4. $ICP centralization. Node providers have grown very slowly & with such poor price action it’s hard to imagine them growing at all until price action improves. The ICP dashboard has made it harder to see how many node providers there are and the rate of growth but I believe there are 130. This lowered transparency on the dashboard is a bad sign in itself.
5. $ICP has the largest team in all of web3 which is a double edged sword. They obviously need to be paid somehow & the lack of positive price action makes that more difficult. I’m sure their staking rewards being sold are a large source of sell pressure.
I think the most important part to solve for that will help improve everything else is user experience.
It’s shocking that that hasn’t been a focus, but having a smooth user experience can ultimately lead to more users which will improve price action which solves most of these problems listed.
User experience starts with the wallets. $ICP desperately needs a very smooth wallet (compatible with mobile & desktop) that seamlessly interacts with $ICP applications.
Plug wallet the most popular mobile wallet on $ICP doesn’t even have a browser function. I also believe they take a 1% cut of every trade that happens within the wallet.
To be frank the user experience on $ICP is shockingly bad compared to most other blockchains in the top 100. This should be a main focus today.
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$ASTS seems to be one of the best pre revenue companies ever. I’m still learning about the business but it seems like they will inevitably scale revenue rapidly. I have a tiny position but I’m doing more DD.
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There are not too many Brc20 projects that are truly building. $trac is the most notable one and is still only a 60 million dollar market cap!
I just discovered $ghsy @GhostyCash which is building a anonymous exchange/ bridge for Brc20 tokens! I already bought a position before I did much due diligence because the market cap is only 4 million! They have a working product already ⬇️
ghosty.cash
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Welcome to all the new $BDC holders.
Holders have been increasing pretty rapidly during this consolidation.
1 billy is the floor.
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I do think $ICP would benefit greatly from improved communication.
@dominic_w is very appealing to technically savvy investors.
I think we could use someone similar to @Austin_Federa (from $SOL) for $ICP.
I am happy that $CLOUD @BobbyO_ is working on spreading the message.
But I still think we could use a person who can simplify the message of what $ICP is and its benefits.
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