Profile picture
Tren Griffin
@trengriffin
, 3 tweets, 2 min read Read on Twitter
Charlie Munger once described airlines as “marginal cost with wings“.

"Wow Air Joins 20 Other Airlines That Folded in Just the Past Year" skift.com/2019/03/29/wow…
"The airline industry is a very, very competitive business,” Buffett said Thursday. “I don’t think it’s a suicidal business anymore, but it was for quite a while.” bloomberg.com/amp/news/artic…
"Delta Air Lines, Southwest Airlines Co., United Continental Holdings Inc. and American Airlines Group Inc. All together, those stakes are worth $9 billion, almost 5 percent of Berkshire’s equity portfolio." google.com/amp/s/www.bloo…
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Tren Griffin
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

More from @trengriffin see all

Profile picture
Tren Griffin
@trengriffin
"P&G could afford the expensive cost of network TV because you were selling so damn many cans and bottles. Some little guy couldn’t."

Munger said that once, but he knows the brand moat from TV advertising's scale is gone. Recapturing that won't happen.

google.com/amp/s/www.bloo…
At network television sales meetings these days everyone sings:

"What a friend we have in Geico,
What a privilege to carry their ads,
Please deliver us drug ads for olds,
And informercials for six pack abs."
Progressive and Geico spent $519 and $451 (Direct) in CAC. State Farm and Allstate $827 and $711 (Agents). google.com/amp/s/www.chic… That pays for a lot of TV ads.
Read 3 tweets
Profile picture
Tren Griffin
@trengriffin
1/ Amazon is an aggregation of resources made available through a series of interfaces. With AWS and Catalog, the resources were computing power and a monetizable ecommerce catalog, respectively, and the interfaces were corresponding web portals and APIs." zackkanter.com/2019/03/13/wha…
2/ "Software developers [can] access [the APIs] programmatically. In order to thrive at ‘internet scale,’ Amazon would need to open itself up at every facet to outside feedback loops. Amazon would have to become just one of many customers for each of its internal services.”
3/ "Bezos did not meticulously assemble Amazon into the collection of high-growth businesses that it is today; he ‘merely’ designed Amazon’s algorithm." Platforms, Platform, Platforms.
Read 3 tweets
Profile picture
Tren Griffin
@trengriffin
"The whole concept of dividing it up into 'value' and 'growth' strikes me as twaddle." Charlie Munger.

Twaddle: (noun) trivial or foolish speech or writing; nonsense.
"We’re applying Graham’s basic ideas, but now we’re trying to find undervalued GREAT companies." Charlie Munger. The ample supply of cigar butts Graham relied on disappeared decades ago. google.com/amp/s/25iq.com…
"Some people, when they say ‘value investor,’ mean somebody that emphasizes working capital or something. I can’t give a formulaic approach because I don’t use one. I mix all the factors and if the gap between value and price is not attractive then I go on to something else." CM
Read 5 tweets

Related threads

Profile picture
Alamo_on_the_rise
@AlamoOnTheRise
Trump: Day 766
-Forcibly Kissed ex-Campaign Staffer
-Threatens 2 Veto Background Check
-Org Asks House 2 Halt Their Probes
-Departs for Vietnam NK Summit 2.0
-Russia Lists Nuclear Targets in U.S.
-Slammed by Fmr Fed Reserve Chair
-GOP Lining Up to Block Declaration
Add...
Day 871 since Donald Trump admitted to sexual assault — yet he’s still in the Oval Office
Add...
Former campaign staffer alleges in lawsuit that Trump kissed her without her consent.
wapo.st/2EeIimn
Read 76 tweets
Profile picture
Turner Novak
@TurnerNovak
$SNAP Q4 earnings today. Bad DAU numbers will tank the stock, but Snapchat has a core, sticky userbase and is being under-monetized.

Here's a thread on the Facebook Power Law and a look at how Snap could do up to $10 billion in revenue in the US alone in its current form.
Lots of going on at Snap (see link), but as someone who appreciates product and design, I've learned a lot following their product strategy (ie: creative new revenue generation in consumer social). Lots of lessons from what Snap has done right.

marketwatch.com/story/snap-ear…
To summarize my prior Snap earnings threads (below):

Snaps per Day is Snap's key metric, the US and EU are what matters for monetization, its ad prices are insanely low, and the market is not appreciating Bitmoji, Snap's AR platform, or the Snap Map.

Read 54 tweets
Profile picture
We_are_Q_172018
@Q172018
IT BEGAN NOT by tapping enemy insurgents’ phones or capturing their emails, but by #FollowingTheMoney

Cache of 328 NS theintercept.com/2018/08/15/nsa…

#Snowden
Aug. 15 2018, 13:00 p.m.

The Intercept's largest-ever SIDtoday release, with 328 documents

#Qanon
#FlashbackFriday
#WWG1WGA
When the #NSA discovered that #Iran may have been buying computer chips from the #UnitedStates routing them through a U.S. ally
&
Potentially supplying them to detonate #bombs against U.S. forces in Iraq & #Afghanistan
It credited so-called economic intelligence with the find.
The solution wasn't a death blow delivered by the #military but rather a new regulation on the export of certain #technologies via the #CommerceDepartment which the #NSA said would end up “saving #American & coalition lives.”

#Qanon
#DARKtoLIGHT
#WWG1WGA
#FridayThoughts
Read 136 tweets
Profile picture
Nathaniel Whittemore
@nlw
Long Reads Sunday #24. Crypto winter feels ominous this week. Maybe it’s sinking prices, or competitive pessimism to predict how low they’ll go. Maybe it's the specter of global discontent spilling out on the Champs-Elysees. Let's dig a little deeper. 👇
2/ Let’s start with the undeniable harbinger of gloom that is recent price action. Buzz, your BTC prices..Woof! Vindicated bear @MustStopMurad interprets: while @kenoshaking suggests that the bottom isn’t in, but we’re close:
3/ Then again, increasingly we’re not talking about crypto prices in a vacuum, but wondering what, if anything, they’re telling us about a macro market shift away from risk, as @_jillruth explores
Read 32 tweets
Profile picture
Teresa Randal
@RandaltsRandal
Ken Wyatt on ABC just now spinning a line about aged care funding & saying there is no crisis in aged care.
He is "often disappointed when providers don't act in the best interests..."
God forbid he should be disappointed!
Did he get 3 nuggets & 5 chips for dinner last night?
Despite accusations of bullying Ken Wyatt said he retained "confidence" in Mr Barnier Opal's CEO who is on two key government committees which advise on policy — the Aged Care Sector Committee and Aged Care Financing Authority. abc.net.au/news/2017-09-1…
Shocked doctors raised the alarm about a Canberra nursing home after an elderly resident battling dementia arrived for emergency treatment with maggot-infested wounds.
canberratimes.com.au/act-news/canbe…
Read 15 tweets
Profile picture
David Perell ✌️
@david_perell
1/ Genius rests in simplicity, not complexity.
2/ In each moment, there are an infinite number of things to do. An infinite number of facts to know, books to read, or places to go.

How should we decide what to do?
3/ On Wednesday, I saw Sam Zell speak. A very successful investor, he’s guided by simple maxims:

1) Follow the demand.
2) Good opportunities are easy to explain.
3) Invest when there’s big upside, small downside.

These rules let Zell succeed in spite of chaos + uncertainty.
Read 22 tweets

Trending hashtags

#Baqubah #Tweets #IStandWithTrump #rabbithole #NorthKorea #FridayReads #military #AbuMusab #SIDtoday #PrepNat #TaxScam #Immigration #FollowTheWhiteRabbit #TrumpLies #VoiceMatch #SpecialCollectionService #soon #KevinSpcaey #Baghdad #civilian #TrumpShutdown #Trump #bushdid911 #UnConstitutional #DeepState
Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!