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Tren Griffin @trengriffin
, 3 tweets, 1 min read Read on Twitter
My quarterly revenue was $18.8B down 2%. My tax rate of 10.2% was delivered by the tooth fairy. So was non-GAAP EPS of $3.42. GAAP EPS was $2.94. Who am I?
The tooth fairy told me he only likes to deliver accounting earnings since "excluding items" and adjusting rates is so much fun. Reality-based computations like free cash flow where dollars are just counted are no fun he said. He loves P/E ratios, especially if they are non-GAAP!
Down 7%. But blockchain though.
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"According to the survey results, the median pay for full-time writers was $20,300 in 2017, and that number decreased to $6,080 when part-time writers were considered. The latter figure reflects a 42 percent drop since 2009, when the median was $10,500."
In my blog post on writing books I wrote: "6. Don’t expect to earn more than the minimum wage and be thrilled if you earn more." google.com/amp/s/25iq.com…
"In Mémoires (1759), Voltaire recalled how in his youth he had come across so many writers who were “penniless and held in contempt” that “he had decided not to add to their number.” laphamsquarterly.org/luck/voltaires… "Thanks to his fortune he was free to pursue his writerly life."
Read 3 tweets
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"Companies can lose a lot of money in their early years but be wonderful businesses if they are acquiring customers with long lives and strong variable margins."

But some businesses just do the losing money part. A critical skill is knowing the difference between the two types.
Customer-based corporate valuation (CBCV) = valuing a business on a "bottoms up" basis by valuing the customers. In a subscription business especially, this is an essential process if you want to understand if real value is being created despite a lack of current GAAP earnings.
"CBCV isn’t about being profitable from day one. It’s about variable profitability in net present value terms (while still being mindful of fixed cost overhead of course!)" Determining whether a specific business is a delicious cheesecake or a turd requires detective work.
Read 6 tweets
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“The Fasten Seat Belt sign is now illuminated. If you haven’t already done so, please check your cash and cash equivalent balances. Please lower your burn rate and make sure your defensive investments are in their full upright position.”
“If you find yourself needing an emergency exit from illiquid investments, please read carefully the special instructions card. Cash is more king than ever. If you can’t handle the haircut you are about to experience, please ask someone to do the selling to raise cash for you.”
“We remind you this remains an uncertain and no sympathy correction. No one knows anything for sure as is usual. Crying and whining is prohibited, including in the lavatories. Tampering with, disabling or destroying your brokerage statements is pointless and prohibited by law.”
Read 5 tweets

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GP "Or to put it a bit more succinctly, when taxing the rich, all we should care about is how much revenue we raise. The optimal tax rate on people with very high incomes is the rate that raises the maximum possible revenue."

nytimes.com/2019/01/05/opi…
GP Nobel Laureate Paul Krugman takes to the pages of the NYT to advocate for confiscating the money earned by our highest earners in the name of redistribution.
GP Krugman's comparison to the high marginal rates post-WW2 is particularly galling. As he surely knows, the US was the only game in town after WW2 destroyed every other industrialized economy in the world.
Read 22 tweets
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Down at Fresno City Council December 6,2018 ! Pastor Joe White will be leading the invocation this morning
Some items on consent Approve the award of a purchase contract to Braun Northwest Inc., a Washington-based corporation, for the purchase of a North Star 234-5 Type V SWAT command vehicle in the amount of $267,753.00
Approve a vendor agreement with Sculpture Conservation Studio
in the amount of $164,500 to provide non-professional maintenance services for 32 artworks located on Fulton Street between Inyo Street and Tuolumne Street (Council District 3)
Approve Contract Change Order No. 17 to the construction contract with W.M. Lyles Company for the City
Read 73 tweets
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.@ATAFtax launches 2018 African Tax Outlook. #ATAFNexus2018
Average #tax to GDP ratio for #Africa was 16.2% in 2016 compared to the 34.3% @OECD average and 22.8% in Latin America.
#VAT was the highest contributor to #tax revenue in all countries. Personal income tax came second (lower in ECOWAS at 13% compared to 23% in SADC and EAC).
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. #ShariaNo #Sharia
1. Hilo sobre el extrañísimo combo Sharia, Feminismo, Diversidad Sexual y Derechos Humanos:

⬇️

2.
Read 508 tweets
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#b Excellence is overrated, competence is underrated.
Competence is knowing what to do in a situation and how to do it. It is not the same as excellence.
Excellence is dependent on other people, like judges, examiners, teachers, assessors, inspectors, auditors. But we can't control these people and whether they think we're excellent or not.
Read 12 tweets
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#b 'Teknik menjawab' is not a series of rituals that you carry out to secure an A in the exam. You don't get guaranteed an A just through superficial actions like highlighting keywords or drawing meniscus or inserting isi tersirat.
The problem is students and teachers treat teknik menjawab as some sort of pseudo magical ritualistic gestures that will bring a certain outcome. Draw a pentagram, slaughter a chicken, and your wish will be granted.
Some remote Pacific Islanders in 1940s came in contact with Allied and Japanese soldiers who were more technologically advanced and thought the soldiers were gods who had many "cargo" (canned food, electronics, modern stuff)
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