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Tren Griffin
@trengriffin
, 3 tweets, 2 min read Read on Twitter
Since people now talk and write about "adjusted EBITDA" (AEBITDA) maybe it is time to talk and write about "adjusted GDP" (AGDP), which also includes production that GDP excludes like an iPhone designed in US, produced in China, consumed in France. brookings.edu/wp-content/upl…
"While Fortnite is notionally free to play, its maker booked billions of dollars in revenue If a player in China buys an outfit or weapon designed in North Carolina, he is effectively importing a digital good from the U.S.—and helping to support a high-paying job in the US."
NOT included in GDP: "McKinsey explosion in global data flows "generated $2.8 trillion in economic output in 2014 alone and was doing more to benefit the world economy than the stalling international trade in physical goods." bloomberg.com/news/articles/…
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Tren Griffin
@trengriffin
It is almost as if the market is focused on: (1) absolute dollar free cash flow (which is a fact) versus earnings (which is an opinion) and (2) total addressable market (TAM). AAPL and AMZN both have very attractive absolute dollar free cash flow and TAM.
"Companies are valued not on their percentage margins, but on how many dollars they actually make, and a multiple of that.” “When forced to choose between GAAP and maximizing the present value of future cash flows, we’ll take the cash flows.” Jeff Bezos google.com/amp/s/25iq.com…
"At shareholder meetings someone would ask about earnings, and I’d say, ‘I think you’re in the wrong meeting.’ That’s the wrong metric. If you start generating earnings you’ve stopped growing and the government is now participating in your growth metric.” google.com/amp/s/25iq.com…
Read 3 tweets
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Tren Griffin
@trengriffin
Someone will occasionally write me to say a 25iq post is missing. My book amazon.com/Lessons-Entrep… is a fund raiser for the charity "No Kid Hungry." If the essays were available for free, no one would buy the book. The essays have also been professionally edited and rewritten.
My posts on Bill Gurley, google.com/amp/s/www.geek…, Marc Andreessen a16z.com/2014/07/21/a-d… and Chris Dixon a16z.com/2015/01/18/12-… are available in other places on the Internet and also in the book. 100% of any revenue I would get from the book goes to "No Kid Hungry."
There are over 300 posts on 25IQ on various topics that I wrote that many weekends in a row. An index of the posts is here: 25iq.com/featured-indiv… The posts are all free to read and there is no advertising. Writing the posts was penance for my luck in life, an idea I borrowed.
Read 3 tweets
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Tren Griffin
@trengriffin
A lot has been written about challenges facing journalism this week, but not so much about the business challenges. The formula an owner of a media outlet faces can be represented in a formula: abovethecrowd.com/2012/09/04/the… Each variable in the formula can make or break the business.
Among the critical variables for a media business is "customer acquisition cost." The higher that cost is, the greater the risk that (1) customer churn can result in stranded capital and (2) the business runs out of cash since the CAC is paid up front and revenue often is later.
The cost of acquiring a customer varies based on many factors, but to keep math simple assume it is $100 *on average* for newspapers/mags with significant variability by sales channel. If you look at many industries you can start to guess what CAC is or will be for a new product.
Read 9 tweets

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David Eil
@economistified
Now reading: Ages of Discord by @Peter_Turchin .

So far it sets out an Asimovesque Foundational program of predicting and modulating society's vicissitudes

amazon.com/dp/B06XDLT2C5/…
An interesting passage early on. "This time is different" surely generates some mistakes. But "this time is the same" generates many as well, both bc for data-fitting reasons and boy-who-cried-wolf complacency reasons.
For instance, in the opening pages, Turchin talks about how American elites were surprised by secession and the Civil War, since they thought the South's threats would be empty and compromise achieved as had always happened before. But that time was different.
Read 71 tweets
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🎄🔶🌸❄️Sakura To Yuki No Seirei❄️🌸🦋⚢⚧
@SakuraNoSeirei
So, I've waded through the Evangelical Alliance's new pastoral "guidelines" for interacting with trans people (ughh, the things I do to expose #transphobic #ciswits to the world), and let's just say it's time to tear this particular sh*t-bag a new hole.

1/n
CW: #Transphobia, #ConversionTherapy, #Zucker, #Religiously #driven #zealotry

2/n
So, straight off the bat, first page of text, the use of #language is . . . well, yeah, see for yourself:

"It is important to remember that transgender is not simply an issue to be debated;" - p5, #Transformed

*sigh*

When such language gets reinforced by insisting...

3/n
Read 176 tweets
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Morgan
@morganknutson
Now that Google+ has been shuttered, I should air my dirty laundry on how awful the project and exec team was.

I'm still pissed about the bait and switch they pulled by telling me I'd be working on Chrome, then putting me on this god forsaken piece of shit on day one.
This will be a super slow burn that goes back many years. I’ll continue to add to over the next couple of days. I’ll preface it with a bunch of backstory and explain what I had left behind, which made me more unhappy about the culture I had come into.
I spent most of my early career working for two radical sister non-profit orgs. I was the only designer working on
anywhere from 4-5 different products at the same time. All centered around activism and used by millions of people.
Read 149 tweets
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Bob Chipman
@the_moviebob
The Somerville Theater is running GOOD BURGER as a Midnight Movie tonight, apparently expecting solid attendance. Strange to think of something I was "too old for" when it was new as a nostalgia-classic for people now, but it also didn't occur to me at the time...
...that no one had really taken a swing at a Bill & Ted/Beavis & Butthead/Waynes World type "dopey comedy duo" youth movie like this with two Black comics before, right? This might even still be the main one?
(I do remember being surprised for a Nickelodeon 90s movie to wrap on this specific joke, though...)
Read 5 tweets
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Amy Berg
@bergopolis
Congratulations! You’ve just been hired onto the writing staff of a television show. A new adventure awaits!
First things first, get your shit together. See your doctor, schedule a teeth cleaning, secure a dog walker, go grocery shopping, fill your fridge with ready-made meals. As of the first week in June, daytime doesn't exist anymore.
But most importantly... gift yourself something. You earned it. This is an accomplishment and deserves to be rewarded. Make sure it’s something you wouldn’t ordinarily buy for yourself so it genuinely feels like gift-worthy.
Read 25 tweets
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Mark Sayers
@SayersMark
“In other words, American Christianity is growing heavily through immigrants who are people of color. If Christians are really so scary, maybe it’s time to build that wall.“

google.com/amp/s/www.bloo…
This is a trend happening not just in the US but across the Western World.
Also why I am betting that you will see in the coming decades the emergence of political parties which are economically centre left, socially conservative and faith friendly and who will gain significant followings, especially amongst non-white & migrant voters in the West.
Read 3 tweets

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