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Tren Griffin
@trengriffin
, 3 tweets, 2 min read Read on Twitter
"[Satellite television] operators as dead men walking has been obvious for some time, and the cable operators, while actually not doing all that badly in video, have made clear that they increasingly view their core business to be broadband, not video." fortune.com/2019/02/22/cor…
"AT&T, owner of U.S. satellite television giant DirecTV, is finished buying satellites, executives said Nov. 29 2018." spacenews.com/directv-owner-… Once you have done a few thousand unit economics runs you realize how fast churn takes a business apart. "Gradually then suddenly."
Two-way non-geostationary broadband is about to get a market test. "OneWeb has already exhausted more than $2B on preparing its low-Earth-orbit constellation. Today’s launch and completion of in-orbit testing paves the way for the next 20 Soyuz launches." spacenews.com/first-six-onew…
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Tren Griffin
@trengriffin
Podcasting or blogging involves at least two sets of unit economics. Creators have the option to roll their own. Anyone who wants to syndicate them must offer a better outcome than doing it themselves. This sets up a wholesale transfer price negotiation. What's the revenue split?
When a syndicator like Medium or these "Netflix of podcasting" businesses negotiate they must offer a deal that is better than a "do it yourself" option. For me, the ability to ensure that there are no ads for financial scams or even "My Pillow" on 25IQ is an essential element.
Up the value chain from the customer is the podcaster. That podcaster and the syndicator have different amounts of pricing power. Any syndicator who ignores that the podcaster has an alternative (a BATNA) will have many of the same problems as Medium. fastcompany.com/90315635/why-p…
Read 3 tweets
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Tren Griffin
@trengriffin
What kills a business is a lack of cash. What causes a business like meal delivery (kit or prepared) to run out of cash are broken unit economics. Munchery's Chapter 11 reveals they still don't understand the impact of customer churn (inverse of retention) gallery.mailchimp.com/8d06deefb7d38f…
"Companies that retain their customers ...should be awarded a much higher multiple than another business that do not ... even if the historical revenue patterns look exactly the same." knowledge.wharton.upenn.edu/article/game-c… The financial impact of greater customer retention can be non linear.
Why isn't Munchery a Chapter 7?

I illustrate the unit economics of a fictional business named "Blue Oven" here: google.com/amp/s/25iq.com…

Unit Economics: google.com/amp/s/25iq.com…

Churn/retention: google.com/amp/s/25iq.com…

CAC: google.com/amp/s/25iq.com…

GM: google.com/amp/s/25iq.com…
Read 5 tweets
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Tren Griffin
@trengriffin
"'Cash flow from GE’s industrial operations will be negative this year' .. This year’s cash outflow from the power division will be worse than last year’s $2.7B burn.' bloomberg.com/amp/news/artic… Exactly backward: "The metric is considered an indicator of earnings potential."
"Earnings" are only an indicator of future cash flow which investors can actually spend. It's a DCF not DE. "The value of any financial asset boils down to three things: some measure of cash flow, some measure of risk, and some measure of forecast horizon." Michael Mauboussin
It is not possible to pay for "in-home, assisted living or skilled nursing care" with "earnings." What will pay for that is absolute dollar free cash flow. google.com/amp/s/mobile.r…
Read 3 tweets

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Nate Silver
@NateSilver538
#Actually, the chart actually shows clear evidence of the beer-wine frontier, with certain types of sprits (e.g. scotch, brandy/cognac) straddling the frontier. 🍺🍷
A few highbrow beers (although there's nothing *truly* highbrow on here) creep over into wineland, but that's sort of what you'd expect.
👏 WINE 👏 TRACK 👏 BEER 👏 TRACK 👏 HAS 👏 BEEN 👏 SCIENTIFICALLY 👏 VALIDATED 👏
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Shannon
@Avery1776
1) I am sure the uptick in transnational cartels falling AFTER Ohr was no longer the boss is a coincidence. @BenKTallmadge @CarrollQuigley1 @MadAddictSport @909946zill @Joestradamus91 @jodieiscool1 @almostjingo @ECEverett1

#TimelinesMatter & this one makes Bruce be like
2) A timeline here will show all the other networks being dismantled prior to Ohr being caught up and the uptick.
evernote.com/shard/s499/sh/…
3) 44 would never have been able to do this without Ohr's service to our nation.
politico.com/interactives/2…
Read 66 tweets
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GeorgeMonbiot
@GeorgeMonbiot
This story is astonishing, and huge. Britain's used tyres are being exported en masse to India, without proper oversight or control, where they are baked to make a filthy fuel, with horrendous consequences. My column: theguardian.com/commentisfree/…
The UK govt is flagrantly flouting its own rules, and clearly couldn't give a damn. On Monday, I asked for responses to my questions by noon on Tuesday. It sent a non-response, answering none of my questions, at 10.20 last night, hours after the paper had gone to press.
This allows it to claim that it responded to my request, while ensuring that I can't use its response, which, as it knows, does not answer my questions. It hopes to put the issue out of mind, regardless of how many Indians this toxic policy is killing. #WasteColonialism
Read 6 tweets
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Chris Gerlinsky
@akacastor
A thread with some of the story of the “battery card” - the first pirate card sold for hacking DirecTV in the mid 1990s.

#tvpiratehistory
The battery card was a PCB slightly longer than a credit card, with chips on it to emulate a smartcard. Visible on the top of the card when inserted in a satellite receiver was a coin cell-type 3V battery.
Because the chips are thicker than a smartcard, the board would extend out of the cardslot to make room for the chips. Inside the satellite receiver, the battery card emulated an original smartcard. The satellite receiver wouldn’t know the difference.
Read 58 tweets
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Baba97
@Baba9773
1) @TheLastRefuge2 is absolutely right! The LEVERAGE our President has guarantees Mueller and the rest of the POS are Dead 💀 Men Walking!

Read this thread by Sundance



This is all about LEVERAGE. Our President has all the leverage in the world on
2) Mueller as well as the FBI and DOJ. Rosenstein has admitted to our President that the Mueller investigation was illegitimate. That is why he tried to resign five times. Since PDJT won’t allow him to resign or be fired, Rosenstein is now telling PDJT that his office will honor
3) the President’s request of speed and they will allow IG Harowitz to put even more information about the FISA abuse in his report. That report will be out before the end of October (my opinion).

PDJT knows that the Democrats realize that sunlight at this point in time will
Read 6 tweets
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Be Just & Fear Not | Let None Survive
@SuperNerdMike
I ever tell y'all about the time me, Jason of @GradedPointFive, helped @MulattoWitCheeZ protect his weed dispensary from a host of boomers who were angry about the new ID policies?
So we just pulled into Detroit with most of a bushel of the King of Bud.
Which was good, because Jason was starting to weird me out a little.
After taking a few puffs, he kept mumbling, "I am nearly one with the yee force. Mike, you don't understand, I am nearly one with yee."
Still, we needed travelling money, & if the few puffs that Jason was taking caused him to enter another state of existence were indicative, this weed was worth a lot of money.

So after we got off the bus, we took a taxi to go find where Mulatto worked. An inner city weed shop.
Read 34 tweets

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