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25iQuiz: Is this really a "pivot"?

"Eaze is hoping to pull off a 'verticalization' pivot, moving beyond online storefront and delivery of 3rd-party products (rolled joints, flower, vaping products and edibles) and into sourcing, branding and dispensing" techcrunch.com/2020/01/16/eaz…
"A pivot isn’t about product iteration– the pivot has to do with business model." Mike Maples Jr. techcrunch.com/2010/10/22/mik… Ann Miura-Ko: "A pivot, for me, is taking one component of your business model and changing it somehow."
Mike Maples, Jr.: "A pivot is: keep your proprietary insight, but find the right customer for that insight. Don’t let go of your secret." The metaphor of pivot is apt in that a pivot involves keeping your pivot foot on the ground as you move your body..." google.com/amp/s/tim.blog…
Does Eaze even have a proprietary secret to hold on to?

As Eaze expands in a market do demand and supply both grow and pickup times fall?

How does selling additional layers in the value chain create any barriers to entry and pricing power?

Does Eaze have product/market fit?
"You don't pivot on the product. If you fix the market and pivot the product, then you have no advantage because your original insight is gone." There are exceptions [but they're not a pivot. They're a restart]." Andy Rachleff
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Tren Griffin
@trengriffin
1/ In the DJCO meeting today Charlie Munger talked about how much harder selling bespoke software solutions is than a software platform business. He reminded me of Brer Rabbit saying to Bret Fox: "Oh, you don't want to enter the court software automation business. It's too hard!"
2/ An analyst wrote about the opportunity Constellation is harvesting:

“Our analysis of software vendors indicate substantial fragmentation with approximately 38,000 VMS vendors spanning more than 12 vertical markets."

Hard to scale but can be sticky!

google.com/amp/s/25iq.com…
3/ What's to like about a bespoke business like court automation software?

"Software contracts are better than first-lien debt. We get paid first. Software contracts are better than first-lien debt. [The client's system] can’t run without our software.” google.com/amp/s/25iq.com…
Read 3 tweets
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Tren Griffin
@trengriffin
1/ The quality of Charlie Munger Q&A is gated by the quality of the questions. Today's questions weren't optimized for generating interesting responses. Many people asked questions he has answered before. He has talked about Elon Musk before but his answer was still interesting.
2/ He was asked about Elon Musk and Tesla’s stock: "I have two thoughts: I would never buy it. And I would never sell it short. I have a third comment. Howard Ahmanson, said something I’ve taken to heart: ‘Never underestimate the man who overestimates himself.’"
3/ "Asked about the best advice for raising children] 'The best thing you can do is be a good example. Preaching doesn’t work worth a damn. I’m happy doing the best I can by my children and see where things fall.'" seekingalpha.com/instablog/2344…
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Tren Griffin
@trengriffin
Financial TV seems to be preoccupied with "god knows what " so it is up to some of you to create a transcript and live tweet the Charlie Munger event. If you are watching something else on financial TV during these hours tomorrow think about what you could have been watching.
I am not aware that anyone has ever been required to prove they are a shareholder to attend this meeting which includes the Charlie Munger monologue and Q&A. But you may need to be there early enough to get a seat. What's your opportunity cost of not attending if you can?
What will it be like to attend The Charlie Munger Show tomorrow in Los Angeles? Try: Did I mention that attendance is free and that he is 96 years old? Did I mention that anyone who creates a transcript or live tweets is on the side of the Angels?
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Related threads

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Greg Meeker
@yomeeks
This is your daily pension announcement: The war room at the Chez Meek is ready at action stations!! Here is UCP MLA Ron Orr (Ponoka) @RonOrrMLA reviewing the ATRF pension hijacking. I am going to have to go through this again... #ABLeg #ABEd

ponokanews.com/opinion/mla-ro…
First, I would like to commend @RonOrrMLA. He has definitely tried to dig into this complex and multifaceted issue. I am not being facetious. He has dug in deeper than most MLAs. I do need him to engage in some critical thinking and challenge Travis occasionally. #getthehistory
Ron should be concerned about re-electability. These pension changes are abusive in nature. You will please note that he does not comment on the wider changes to other public sector plans. I think police officers, fire fighters and others should communicate with Ron.
Read 29 tweets
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Dr. Dena Grayson
@DrDenaGrayson
As a doctor and scientist, I have treated patients with chemical-induced lung injury, and I’ve developed inhaled medications. These #vaping illnesses—which appear to be relatively acute—are extremely concerning.

Inhaling ANY foreign substance has risks.

nytimes.com/2019/10/02/hea…
For those who argue that #vaping is “safer” than smoking, the jury is still out. There aren’t long-term data for vaping products, and the short-term data show some potentially alarming adverse effects. Another concern is that vaped products attract younger users.
#Fact: ANY inhaled foreign substance poses some risk. The issues for inquiry on #vaping include 1) the relative risks compared to “traditional” inhaled products, such as tobacco and marijuana, and 2) the uptake of potentially addictive products among younger people.
Read 4 tweets
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Foxy Miraj
@foxymiraj
So hey @GovInslee - you’re destroying an industry that I feel passionate about because not only did I get to quit smoking cigarettes from #vaping, but it saved my life. Thread:
I was in a mentally abusive relationship for years. The guy cheated on me for a long while with a minor. My coping mechanism during and after that relationship was Camel Crush Menthols. Pack a day. It was a bad bad habit. Until one day, I learned about something new.
I met someone new after the other guy and I split. Nicest guy ever. He was outside of work and pulled out a #vaping device as I reached for my cigarettes. He educated me about everything, how it was safer, how the nicotine intake could be controlled, everything.
Read 10 tweets
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John Nathan
@FJohnNathan
The legislative efforts against #vaping are misdirected. Lawmakers seeking to reign in #JUUL are not aware of the non-big tobacco small biz that will be put out by the broad brush #flavorban legislation being promoted. We need regulations but the following needs mention.. /1
The small biz segment of the #vaping industry is largely comprised of ex-smokers who found an effective form of tobacco harm reduction and feel compelled to guide others to the same results. These are Mom & Pop retailers providing a beneficial service to their communities. /2
This segment controlled the entire American market for the better half of 8 years without any measurable amounts of youth access to warrant the "epidemic" proportions we are addressing. The teen issue wasn't largely perpetuated until #JUUL began marketing heavy in 2016. /3
Read 34 tweets
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John Nathan
@FJohnNathan
THREAD: @NYGovCuomo (D-NY) has BANNED flavored #vaping #ecig products & our thousands of NY jobs on 90 day notice via emergency orders to combat the teen use issues at the expense of smokers & public health.

Here is his direct quote: /1
So what?

New York State has a smoking rate of 14.1%. That’s 2.75M residents who currently use a product that is guaranteed to kill them. E-cigarettes present a harm reduction avenue to mitigate the risk of smoking. /2
So what?

E-cigarettes are safer than cigarettes. Those are your words. You added in “technically” but should have substituted “scientifically” as these aren’t egregious claims but medical research conclusions. /3
Read 15 tweets
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Jim McManus OCDS
@jimmcmanusph
Amidst the hysteria about #vaping some key points to remember. #publuchealth 1. The American deaths and hospitalisations are due to people vaping oil in illicit products. Thenoul causes lipoid pneumonia, not vaping by itself....1/.
2. We haven’t seen the same phenomenon in the U.K. .../2
3. The regulation of product in EU and buying from reputable suppliers not street dealers is a key way of ensuring you get good product not illicit product adulterated with oil...3
Read 9 tweets

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#QuitSmoking #LibraInDC #Mittelmeer #MeToo #PublicHealth #MedicallySafe #Vapor #DigitalSoldiers #ecig #MBep9 #VapesWin #JenReadsRitas #WeLoveTheDonald #pivot #Australia #vaccines #eLiquid #MBep8 #canttrustAIMCo #eCigarette #NGOs #juul #vape #MBep14 #mustandingbywazzynoftoladips
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