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david-san-martin

T2 · manager / operator

David San Martín is one of seven co-founders of Nothing, the European consumer electronics unicorn. He previously spent 6 years at OnePlus in Shenzhen, Beijing, and Europe, leading marketing and sales. At Nothing he has focused on sales, marketing, financing, and European business development. He holds a significant equity stake.

13 calls·11 names·15% bull·last heard 5 months ago·itnig
track record

no scored calls yet — needs a stated position or a categorical verdict, with a matured window vs SPY

top calls

highest conviction · one per company
1sthigh conviction
$NOTHINGNothingposition

Nothing reaches unicorn status at $1.3B valuation with $500M+ revenue

Nothing has achieved unicorn status via Series C from Tiger Global at $1.3B valuation, generating over 500M EUR revenue in 2024 and significantly more in 2025, differentiating through design, clean software, and community-driven development while approaching break-even.

itnig2026-03→
2ndhigh conviction
$ONEPLUSOnePlus (OPPO/BBK)

OnePlus lost founding essence after OPPO absorption, prompting Nothing founding team exit

OnePlus was absorbed by OPPO (BBK Group) and lost its original community-driven essence, leading the founding team to leave and start Nothing; current OnePlus is viewed as a shadow of its former self.

itnig2026-03→
3rdmedium conviction
$GOOGLAlphabet

Google Ventures lead investor in Nothing with ~$80M across rounds

Google Ventures was Nothing's first institutional investor, putting in approximately $80M total across multiple rounds, and holds a board seat, though Nothing's AI ambitions may conflict with Google's Android control.

itnig2026-03→

most discussed · click a bar to filter

recurring themes

13 total
$NOTHING
Nothing
HIGHdavid-san-martin·itnig·5 months ago· position
Nothing reaches unicorn status at $1.3B valuation with $500M+ revenue
Nothing has achieved unicorn status via Series C from Tiger Global at $1.3B valuation, generating over 500M EUR revenue in 2024 and significantly more in 2025, differentiating through design, clean software, and community-driven development while approaching break-even.
"hemos llegado a vender más de 1000 millones de dólares y desde septiembre hemos pasado a ser ya un unicornio, eh, gracias a esta última ronda de financiación, la serie C, eh, dond…"
5:16
$NOTHING
Nothing
HIGHdavid-san-martin·itnig·5 months ago· position
Nothing bets on AI-integrated smartphone OS over standalone AI devices
Nothing's AI strategy focuses on integrating AI into the smartphone OS (Essential Space, Essential Key, Essential Playground) rather than building separate AI-native hardware, believing the phone is the logical first step before evolving to dedicated AI devices.
"creemos que los pasos lógicos no es ir a sustituir directamente el teléfono, sino que empezar con el teléfono e ir luego hacia un dispositivo nativo"
49:16
$GOOGL
···
Alphabet
MEDdavid-san-martin·itnig·5 months ago
Google Ventures lead investor in Nothing with ~$80M across rounds
Google Ventures was Nothing's first institutional investor, putting in approximately $80M total across multiple rounds, and holds a board seat, though Nothing's AI ambitions may conflict with Google's Android control.
"Google Ventures, que fueron los primeros que que invirtieron en la empresa... tenía que mirarlo bien, pero creo que 80 millones puede ser"
6:54
$HUMANE
Humane
MEDdavid-san-martin·itnig·5 months ago
Humane AI Pin and Rabbit R1 failed as standalone AI-native devices
Standalone AI-native devices (Humane AI Pin, Rabbit R1) failed because they skipped the necessary step of integrating AI deeply into the smartphone first, which users are already habituated to.
"eran chulos como ideas... pero es creo que un poco la problemática viene siendo que se está pensando de forma muy directa en dispositivos que se supone que tienen que ser nativos…"
48:10
$AAPL
···
Apple
MEDdavid-san-martin·itnig·5 months ago
AirPods generate $60B revenue with 70% of industry gross profit on 15% unit share
Apple's AirPods business alone generates ~$60B annual revenue, capturing ~70% of category gross profit on only ~15% unit share, demonstrating extreme margin power but also highlighting the difficulty of competing on specs/price.
"los AirPods facturan 60 billions... igual son un 15% de del mercado, pero igual son un 70% del gross profit"
15:13
$GLW
···
Corning
LOWdavid-san-martin·itnig·5 months ago
Corning Gorilla Glass dominates smartphone cover glass supply
Corning's Gorilla Glass is the primary cover glass for smartphones (started with iPhone), representing a critical choke point in the supply chain with few alternatives.
"Creo que es una empresa americana, se llama Corning... hacen Gorilla Glass, eh, que creo que inicialmente empezó con los iPhone y luego ya vendieron a vender todo el mundo"
43:02
$ONEPLUS
OnePlus (OPPO/BBK)
HIGHdavid-san-martin·itnig·5 months ago
OnePlus lost founding essence after OPPO absorption, prompting Nothing founding team exit
OnePlus was absorbed by OPPO (BBK Group) and lost its original community-driven essence, leading the founding team to leave and start Nothing; current OnePlus is viewed as a shadow of its former self.
"fue absorbida por OPPO y, bueno, digamos que era parte del grupo antes junto con Realme, Vivo... ha perdido un poco la la esencia, que también es un poco el motivo por el cual dec…"
2:55
$BYD
···
BYD
LOWdavid-san-martin·itnig·5 months ago
BYD factory manufactures Nothing smartphones in northern China
Nothing's phone manufacturing partner is the same factory that produces BYD electric vehicles, located in northern China, illustrating cross-industry manufacturing convergence.
"la fábrica es la misma que hace los coches de PYD... Nuestras formamos fábrica Bid"
22:14
$AAPL
···
Apple
MEDdavid-san-martin·itnig·5 months ago
Annual iPhone upgrades unjustified as innovation slows and replacement cycles extend to 3-4 years
Smartphone replacement cycles have lengthened from 2 to 3-4 years, and annual flagship releases no longer deliver meaningful innovation, making the yearly upgrade cycle a marketing push rather than user necessity.
"ahora estamos más cerca de los tres y los cuatro que de los dos... realmente sí realmente merece la pena cambiar cada año. Pues probablemente no"
45:45
$TIGER-GLOBAL
Tiger Global
MEDdavid-san-martin·itnig·5 months ago
Tiger Global leads Nothing Series C with new team after 2022 crisis
Tiger Global invested $200M in Nothing's Series C at $1.3B valuation with an entirely new investment team after their 2022 downturn, signaling renewed appetite for hardware ventures.
"todo el mundo que con que nosotros habíamos hablado que trabajaba en Tiger ya no está. O sea, el equipo es enteramente nuevo"
47:02