Profile picture
Tren Griffin
@trengriffin
, 3 tweets, 1 min read Read on Twitter
"outsized discoveries – the 'non-linear' ones – are highly likely to require wandering.... success can come through iteration: invent, launch, reinvent, relaunch, start over, rinse, repeat, again and again.... the path to success is anything but straight." blog.aboutamazon.com/company-news/2…
Data science enables this product iteration process at speeds never before possible. The scientific method implemented with digital processes combined with modern storage and compute is powering innovation at speeds never seen before in more and more sectors of the economy.
Some people are puzzled by low inflation given global monetary policies. Weirdly they rarely pay attention to the practicing microeconomists (eg, workers at businesses) driving these innovations which primarily benefit consumers via lower prices. Innovation is rapidly increasing.
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
Ubben is describing why Buffett is has so much cash at BRK. Companies that Berkshire would normally buy are trading like high quality bonds given low interest rates and prices are bid up to a point where it's hard as a value investor to buy at a margin of safety given intrinsic.
The scarce resource is no longer capital as it was "when interest rates were 15%." The "returns accrue to those that allocate well against the scarce asset." Quiz: What's scarce today? What businesses have been doing well in this changed environment? What do they have in common?
The converse question: What businesses have been doing poorly in an age in which capital is no longer scarce? Companies that when attacked by mini-mills keep cutting and retreating to maintain Siren Call Ratios instead of investing to create new pricing power and free cash flow?
Read 4 tweets
Profile picture
Tren Griffin
@trengriffin
JEFF UBBEN: "The long bond at 2% for this long has created a market that seems to be difficult for value investors. There’s always a worry about the next cycle and high-quality businesses can kind of revalue higher and higher because they’re treated as bond substitutes."
When Jeff Ubben says "value investing" he means buying shares in high quality businesses at a discount to intrinsic value in the style of Charlie Munger NOT "value" as a statistical factor as applied in an index fund. The two styles share the word "value" but are very different.
When someone says "value investing" the first question to ask is: are you talking about (1) value as an analytical style in valuing a partial stake in an individual business or (2) value as a statistical factor as applied in an index fund. They aren't remotely the same.
Read 3 tweets
Profile picture
Tren Griffin
@trengriffin
JEFF UBBEN: "I don’t know how much of the bid every day is really somebody buying intrinsic value on the other side. It feels like computers to computers. December was kind of just the race to the bottom." Value as analytical style not a statistical factor google.com/amp/s/www.valu…
"There’s this huge volatility around quarterly earnings that didn’t need to exist. It seems like somebody wants to beat somebody else to the punch on headline earnings and stuff like that which rewires the brain of directors and they think quarterly earnings is really important."
JEFF UBBEN: "In the end intrinsic value will win. And because we have the long-term capital, we have the time horizon that will allow our thesis to play out. And we really tend to make money in year three, four and five. Not year one and two."
Read 3 tweets

Related threads

Profile picture
#Audacious
@arkinsquare
SUCCESS IS A PROCESS, it is not a Moment.

What's your take on this?
#Success
#Audacious
I have realized that to succeed in this life is not a matter of chance or chances, it is a well thought out plan and strategies that always make it happen.
#Success
#Audacious
If you have succeeded in anything yet and you are truthful to yourself, you will see that there are a couple of things that gave for you to achieve that success.
#Success
#Audacious
Read 14 tweets
Profile picture
CZEdwards
@CZEdwards
Over and over, this sentiment: We should all be in the streets. Like Egypt! Like South Korea!

A thread. (Not terribly long, by my standards.)
2. Says people posting from their web client, sitting in a comfy chair, either at home or work.

Sometimes their location says they live in a state capital, sometimes their location shows they’re within striking distance of DC or other major location.
3. Yet are these people in the streets? Like Egypt? Like South Korea?
Yeah, no.
Let’s ROLL on a general strike. (Tips below; some of us are already doing it, on a scale that doesn’t hurt already vulnerable people. It’s not hard.)
Read 43 tweets
Profile picture
Tom Leaman
@tleam
Next up: Building SRE from scratch during Hypergrowth at Coinbase with @phrawzty and @niallohiggins should be a great overview of the practice and a case study of adoption. #reInvent
Awesome delineation of the purpose of an #SRE : it isn’t to perform the firefighting, pager calls and incident response. It’s in place to help prevent and reduce these. #reInvent
#SRE isn’t just building observability into technical systems but your human and organizational systems as well. Took measurement is critical. #reInvent
Read 16 tweets
Profile picture
Tom Leaman
@tleam
Ajit's key drivers of Amazon's DevOps success?
Cultural philosophy + practices and patterns + tools

Opinion: the first one is a big one. I've heard conversations about 'DevOps as a Service' or enabling DevOps by tooling and practice You need culture to make it stick. #reInvent
"Jumping into tools too early without the other elements of the 3-legged stool of DevOps (culture and practice) can result in dysfunction" #reInvent
Friendly reminder: Amazon used to have a monolith. It’s a good news story that an org their size was able to make such a drastic change towards DevOps. Really inspiring for others on their journey from legacy systems. #reInvent
Read 18 tweets
Profile picture
THE_EAGLE™🦅🇳🇬
@iamthe_eagle
MAIMED

I opened the door.
“Pastor” I screamed.
“Honey, It is the work of the devil. She seduced me.” Pastor Oamen (My husband to be) begged pointed at Bimbo who withdrew her mouth from his erect penis.

Brethren, Issa thread.
#terrifictuesday #TuesdayMotivation
#feeltheeagle
“Ladies and Gentlemen, with a standing ovation make welcome, A woman of honour, a role model, philanthropist, business tycoon and humanitarian. Mrs Eno Oamen.” Said the MC.
An excited crowd cheered as she Mounted the podium.
“Ladies and Gentlemen, I didn’t plan to be motivational speaker. Life made me one. My story should be a lesson to you all who want to get married.” Said Eno.
I was 30 and unmarried after many failed relationships. The pressure from my family was unbearable.
Read 71 tweets
Profile picture
People's Palace
@PeoplesPalaceUK
Kicking off our #CreativeEconomy Networks day in Stour Space hosted by @CreativeWick and in partnership with @NetworkCentre, @QMUL, @ahrcpress and @brBritish with a welcome from Will Chamberlain focusing on local creative initiatives and interOlympic exchanges with Brazil
Tim Clement-Jones, Chair of Council @QMUL, reflects that until recently the contribution of the creative industries to the UK economy has been underestimated but this is starting to change, with @ahrcpress funding research to build a crucial evidence base & build new employment
And we’re into our first panel focusing on #CreativeEconomy Networks, with Martin Dowle of @brBritish, Morag Shiach of @NetworkCentre and our very own Paul Heritage of @QMULsed.
Read 132 tweets

Trending hashtags

#ValentinesDay #CancelIranDeal #FreeIran2018 #PolicingInCollapse #MirrorsEdge #Hypocrisy #smartciities #multiperspectivism #rustlang #fishy #Memo #Start #opendsta #RustReach #AvenirPro #ConfidencePlan #feeltheeagle #bigdats #smartcitiea #FLY #MSM #IranDealExit #TuesdayMotivation #ProBio2018 #SuccessFactors
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!