{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Spawn Point","title":"Trust Capex","html":"","width":"100%","height":180,"duration":539,"description":"EPISODE NOTES\nRoblox 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.\nSHOW NOTES\nRoblox'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.Chapters\n00:00 — Cold open: three things that are true at once\n00:40 — The print and the trade: 36% revenue growth, an 8% bookings quarter, and the first guided contraction in company history\n02:16 — The machinery: the 28-day algorithm, facial age checks, and a platform aging up\n04:05 — The license to operate: the MDL, ten attorneys general, five settlements, and the securities pincer\n05:57 — The scoreboard and the bet: lifecycle decline vs. the flywheel, and the three words with no date\n07:30 — The ledger: six things we check next quarter\n08:35 — Sign-off\nThe full written briefing — every claim numbered and quoted to the public record.Spawn Point is produced by Compound Governance, Inc.. Every claim sourced. See you where the game begins.","thumbnail_url":"https://img.transistorcdn.com/gmuS0qdzyS0SNJ1ZpjZWAvjjMsgxsNmFp5fpK3e8QR4/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8yZjJm/OTAyMWNjMDc0ZjU3/NTEwYTA1N2YyYTQy/MGUyMS5qcGVn.webp","thumbnail_width":300,"thumbnail_height":300}