Investing.com — Jefferies told investors on Wednesday that they should focus on internet stocks with strong earnings visibility and standout EBITDA growth as the macro narrative fades into the background this quarter.

Starboard Value filed an initial Schedule 13D on July 3, 2025, disclosing active ownership of 10,635,484 shares, or 9% of the outstanding shares of the online travel outfit. Starboard said it bought the shares because they were “undervalued and represent an attractive investment opportunity.” The firm intends to “engage with [Tripadvisor’s] management and Board of Directors regarding opportunities for value creation.”

Also known as A16z, the firm said it could have made the move quietly but felt it was important for its stakeholders and the broader tech and VC communities to understand the reasons behind the decision, and also suggested its portfolio companies to consider making similar moves. Delaware’s Court of Chancery, which had “injected an unprecedented level of subjectivity into judicial decisions, undermining the court’s reputation for unbiased expertise”, had caused legal uncertainty, A16z, which has been an early backer in some of today’s hottest AI companies, including Databricks and Elon Musk’s xAI, said.

(Bloomberg) — The Silicon Valley venture capital firm Andreessen Horowitz is reincorporating its business from Delaware to Nevada and calling for its portfolio companies to do the same — citing concerns over bias in the state “against founders and their boards.”Most Read from BloombergSinger Akon’s Failed Futuristic City in Senegal Ends Up a $1 Billion ResortAre Tourists Ruining Europe? How Locals Are Pushing BackCan Americans Just Stop Building New Highways?Denver City Hall Takes a Page From N

An activist investor might be just what Tripadvisor needs now that its corporate structure has changed. Analysts have plenty of ideas on what that investor might advocate for, although so far Starboard Value hasn’t publicly discussed a game plan.