Markets have decided that "bits" are everything and "atoms" are nothing. Bits are resilient and atoms are not. As a result, tech companies have separated themselves from every other company, especially those that make physical things or operate physical things.
The most important implication of this permanent WFH movement are state income taxes. The warm, sunny states with affordable housing and zero taxes will see an influx of educated, rich workers. States will need to cut taxes to keep up. The biggest loser in this is CA.
COVID-19 Glass half full from here: 1. End to partisanship. Rs and Ds cross the aisle, work together and help the country. 2. Create some kind of healthcare for everyone with basic services like testing and basic vaccines free - FUCK YOUR IDEOLOGY!
COVID-19 Glass half full from here: 1. End to partisanship. Rs and Ds cross the aisle, work together and help the country. 2. Create some kind of healthcare for everyone with basic services like testing and basic vaccines free - FUCK YOUR IDEOLOGY!
A tale of two loans: Slack: $750M Airbnb: $1B Slack: 0.5% interest Airbnb: 11-12% interest Slack: loan convertible to equity at +24% premium ($31/share) Airbnb: 1% in equity at -49% discount to last private valuation ($18B valuation) Slack: price maker Airbnb: price taker
Prediction: “back to normalcy” will be massively politicized. This moment is the single best opportunity for states, counties and cities to solve their financial problems and get EVERY unfunded liability paid for by the federal government... bloomberg.com/amp/news/artic…
The best trick some internet companies have played on the world is the one that got us to confuse “free” with “open”.
Republicans and Democrats need to stand up and do the right thing. NOBODY SHOULD BE ALLOWED TO HAVE A LICENSE TO KILL IN AMERICA END QUALIFIED IMMUNITY twitter.com/justinamash/st…
Prediction: A Biological Patriot Act is coming. In order to work or congregate in the future, you will probably have to get regularly tested and have those results in a secure app on your phone. You "check-in" with your health when around strangers.
There is a bitcoin scam running on YouTube right now using me and @elonmusk. Please don’t fall for it. It’s not legitimate. I’ve told @YouTube and @Google to remove it but they are some weird combo of asleep / incompetent thus far...will keep trying. pic.twitter.com/NeVgPL7f02
An amazing graph: 1) All US cities with population growth are in states where income taxes are 5% or less 2) 5 of 9 US cities (55%) with population growth are in states with zero income taxes 3) Backdrop is only 7 states (14%) in the US have zero income taxes pic.twitter.com/F6aOtELLqc
Books come in three forms: fact, fiction and fiction masquerading as fact. Most books fall into this latter category so read wisely!
This is racist. pic.twitter.com/nvSeGOfTdS
I’ve interviewed hundreds of people for numerous companies over the past 20 years of building businesses. I’ve experimented with many interview questions and most are only semi useful, but one, above all, has been the most useful. A thread...
You can be a progressive and believe that unions are a force for good that protects worker rights, fights for better pay and better training. But you can also believe unions that hide their members from accountability or incompetence can make society worse, not better.
Elihu Yale was a slave trader. Leland Stanford was a racist. These are the schools we tell our kids to kill themselves over, for parents to cheat over and for society to fawn over. But their founders were scumbags.
Small fluctuations in temperature have meaningful consequences WITHIN your body. We are running a grand experiment on those same fluctuations’ impacts in the atmosphere. Food, Water, Health etc... pic.twitter.com/cVwaxliBjk
If immigration policy was like running a professional sports team: 1. Recruit the world’s best, young players. 2. Give them the best facilities and coaches. 3. Help them develop into an All-American or Five star Recruits. Now you have a choice...
After 20 yrs of building tech co’s, I have learned that these backward looking takes are ALWAYS wrong and cement more support for the startup in question, not less. So here’s a simple HOT TAKE on $TSLA twitter.com/reillybrennan/…
The growing short case on $FB and $GOOG: 1. New product experiences 2. Regulation 3. Taxes 4. Anti-trust If you have the capital/stomach for a 5yr+ bet, here’s how I’d build the short case...
The management of this pandemic has many consequences. Assuming school doesn't resume normally until 2021 a 5 yr old will have lived almost 20% of their life in quarantine with no meaningful interaction with other kids. It's hard to see how this won't impact their development.
World birth rate in 1950: 4.7 World birth rate in 2017: 2.4 At 2.1, world starts to shrink and most countries will need migration and global integration as political and economic necessities b/c population of working age adults in any country won’t be enough. pic.twitter.com/XS7UBQewIS
A proposal: 1. Decriminalize pot everywhere. 2. Hire more social workers and pay them well. 3. Send them vs police for mental health calls. 4. End broken-windows policing. 5. Rebuild police: less armed, better trained, better tested, more accountable, better paid.
Are you interested in decarbonization, sustainability and climate change and want to do something about it? I need help allocating a few $B into these areas over the next 2-3 years so...I am turning to you for help. In return, you can work with me to implement it. Read on...
EU creating €750M pandemic relief for member countries probably means a few things: 1. Equities up 2. Bond prices up 3. Debt levels up 4. Taxes (corporates) up 5. Masks up Here in the US, with our next stimulus, you can count on all but #5. Lol.
In the org design of a company, how would you decide between distributed vs concentrated power? What areas of a company benefit from autonomous, local decisions? What areas of a company should have a hierarchical, sole decision maker? Would your answer vary by industry?
@DesktopMetal - a leader in Manufacturing 2.0 - is going public and I helped lead their $275M PIPE. I wrote a 1-pager on the key things I liked about DM. pic.twitter.com/DRG2Incc1g
Some people scratch their heads when they see valuations of stocks justified by 2024E or 2025E numbers. Their instinctive reaction is to be dismissive but that’s lazy thinking. Here’s a secret hiding in plain sight...
An investing axiom: When you have no users, the marginal user is new and additive. When you have all the users, the marginal user is a churned user. Churn is market’s way of creating pricing, product and feature parity. As goes users so goes engagement, then monetization.