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Tren Griffin
@trengriffin
, 4 tweets, 2 min read Read on Twitter
"If I were a buyer today, I’d find it hard to transact at these levels," [But] if I’m Goldman Sachs and I don’t have [a wealth management] business, maybe these prices are actually quite cheap, because I can immediately have an infrastructure...." financialadvisoriq.com/c/2288973/2784…
Quiz: What is a reasonable customer acquisition cost (CAC) in the wealth management business right now? Is that why you get unsolicited spam snail mail like this? What is the CAC of a wealth management customer acquired via direct mail? What is the current key word based CAC?
US$480B in acquired Assets Under Management (AUM) / 22,000 customers = ~$21.8M in AUM per customer. $750 million/ 22,000 customers = ~$34,000 paid by Goldman per customer. morningstar.com/news/dow-jones…
An off-the-record source: "Duran's choice of buyers was hampered by the estimated 90% control he'd already relinquished to generate growth capital since inception."

How much of the growth capital spending was customer acquisition cost? What was CAC?

riabiz.com/a/2019/5/17/jo…
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Tren Griffin
@trengriffin
The SL satellites are heading up now and won't be as visible as they are now. Interference issues are not new and are not limited to optical frequencies. Users need to learn to share since spectrum is a finite resource. Uses must change as tech advances. thespacereview.com/article/3702/1
"If you would like to try and see the Starlink satellites for yourself, you are going to need to consult an online satellite pass calculator that will provide a custom viewing schedule for your hometown." Type in "Starlink" then hit "go." calsky.com/cs.cgi/Satelli…
"To the eye 60 Starlink satellites will appear as a [conga line] of moderately faint stars … generally in the magnitude +4 to +5 range. A magnitude of +6 is generally considered to be the threshold of naked eye visibility under a dark, clear sky." space.com/spacex-starlin…
Read 3 tweets
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Tren Griffin
@trengriffin
"University libraries around the world are seeing precipitous declines in the use of the books on their shelves.... 64% decline in the number of books checked out by undergraduates from Bass Library over the past decade." theatlantic.com/ideas/archive/…
"The decline in the use of print books at universities relates to the kinds of books we read for scholarly pursuits rather than pure pleasure [since it] runs contrary to the experience of public libraries... where print continues to thrive."
When you want to read a book like one Bill Gates just recommended, paper is still preferred by many people. gatesnotes.com/About-Bill-Gat… He still prefers paper. If you want to cite some research why use a physical book? Cite research in electric format like papers.ssrn.com/sol3/papers.cf…
Read 3 tweets
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Tren Griffin
@trengriffin
Today's SaaS businesses remind me of McCaw Cellular which was sold to the predecessor to today's AT&T in 1994 for $11.5B. They are recurring revenue businesses with an up front customer acquisition cost. The operator can use telemetry to make the product better and manage LTV.
At the same time Craig McCaw was building a cable tv business another team was building a software business with very different economics. Microsoft flowed cash from a time very shortly after it was created. Bill Gates never needed to raise growth capital prior to MSFT's IPO.
McCaw Cellular and Microsoft grew up together founded by people from families that knew each other well. Capital needs in the businesses and ways in which they were operated were different because the nature of the business was different. In 1994 $11.5B was a lot of money. ;-)
Read 3 tweets

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Nate Silver
@NateSilver538
#Actually, moderate Democrats seem to be more popular with general election voters after all. 53eig.ht/30HJdqf
Bernie's polling is decent, but that he does the 2nd-best against Trump (after Biden) is partly an artifact of name recognition. For instance, Buttigieg polls worse than Bernie vs. Trump. But Buttigieg actually has better favorables than Bernie among voters who know who he is.
It's certainly a messy relationship. Some liberals, including Bernie, have decent (though not great) polling. Some moderates don't. But favorability ratings, which allow voters to say they don't recognize a candidate, are a better way to assess this stuff than head-to-head polls.
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JohannesBorgen
@jeuasommenulle
I already tweeted my main thoughts on a #Deutsche #Commerz deal but since it is now LIVE, a few additional thoughts (thread.)
The social cost is likely to be very high (think 20,000 jobs.) The government must be really desperate about the situation of Deutsche to push for that deal!
Is it a good deal though? German banking M&A is notoriously difficult, there are a few horror stories (Dresdner, HVB…) and even in Excel land, the maths are not great – that’s even if you make bold assumptions on synergies.
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Headsnipe01
@Headsnipe011
Manhattan U.S. Attorney Announces Distribution Of More Than $695 Million To Victims Of Madoff Ponzi Scheme

@MAGAREX1 @drawandstrike @HNIJohnMiller @catesduane @rising_serpent @almostjingo @tracybeanz @TheChiIIum @hfinch63

justice.gov/usao-sdny/pr/m…
Payments Are the Third Distribution in a Series of Payments That Together Will Constitute the Largest Payment of Forfeited Funds in the History of the Department of Justice’s Victim Compensation Program
Geoffrey S. Berman, the United States Attorney for the Southern District of New York, Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division, and William F. Sweeney Jr.,
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Shadeed Q. Eleazer
@mrshadeed
"I'm afraid to discuss my business ideas because I'm afraid someone will steal them. What do I do, Shadeed?"

Good question. Here are 7 ways that you can protect your #business ideas.

Thread

#smallbusiness #startup #smb
Protect your business idea #1
Non-disclosure agreements. (NDA)

What is a NDA?

A legally enforceable contract that binds confidentiality
between a person holding information with the person who
is receiving it.

You sign NDA before you tell the details.
Protect your Business Ideas: #2
Trademark your Name

What is a trademark, Shadeed?
A symbol or words that are legally filed to represent a product or company.

Where do I file my trademark?
Apply online here: bit.ly/2owQZB7

#business101
Read 10 tweets
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Rebecca Kreitzer
@rebeccakreitzer
Hey UNC area people, I'll be giving a talk to the @unc_bioethics crew on Monday from 12-1:15 in MacNider Hall 322 on my work with @ProfCandis and @TraceeMSaunders to develop a measure of Contraception Deserts using ArcGIS. (Thanks to @douglaspmackay for the invite!)
We use an Integrated Two Step Floating Catchment Area method to combine spatial and aspatial characteristics to identify areas in NC with very poor spatial access to affordable family planning (Title X clinics), as well as areas with low spatial access and high needs population.
We find ~25% of people in NC live in a contraception desert when we use a 15min driving distance or ~10% with a 30min driving distance. NC is actually quite well off compared to other states, according to this map of Title X provider locations nationally. nationalfamilyplanning.org/file/nationalm…
Read 4 tweets
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Jon Worth
@jonworth
I’m a bit tired of this “UK citizens overseas sacrificed in Brexit negotiations” stories.

So I am going to try - as fairly as possible - to lay out what happened in last week’s deal, and what it means.

1/10
The type of story that annoys me is ones like this theguardian.com/politics/2017/… by @lisaocarroll in The Guardian.

2/10
A quote from The Guardian piece:
“One of the biggest fears of Britons in Europe is that they will remain “landlocked” in the country in which they now live, unable to move across borders to work for meetings, or for business contracts.”

This is not actually quite true.

3/10
Read 11 tweets

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