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St Mirren publish operating losses of just over £900k for 18/19 but their business model of developing players & selling them for a profit worked again as £1m profit made #saints #buddies
St Mirren have plenty of cash in bank & have made over £8m profits over the years.
St Mirren wrote off £29,000 on a player impairment in 2018/19. That’s accounting speak for saying they signed someone who turned out to be shite.
Promotion to Scottish Premiership boosted St Mirren income by 46% with matchday and broadcast income seeing the biggest increases
St Mirren spent £50,000 signing players in 2018/19 but had sales of £1,017,000 (which may include Jack Ross to Sunderland)? #SAFC
St Mirren sold players for £330k in the summer 2019 window
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PriceOfFootball
@KieranMaguire
Great article by @DTathletic in The Athletic today about Ed Woodward, but too critical IMO. Since former PWC accountant joined #MUFC auditors PWC have earned £14.2 million in audit and tax avoidance fees. Ed knows how expensive houses are in Bowdon & Hale so just helping out
Similarly former investment banker Ed Woodward has done great things for the investment banking community who have earned £818m in interest/fees from #MUFC. Those who snipe & say money better spent on players & facilities have no idea how much it costs a banker to hire a nanny
Similarly #MUFC boardroom pay has risen since Ed became head honcho in 2013, but people fail to realise just how much private school fees, Range Rovers and skiing holidays have rocketed this decade. Ed's £18m for being in charge since 2013 quickly goes.
Read 5 tweets
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PriceOfFootball
@KieranMaguire
Ipswich publish press release re accounts. Income up slightly despite relegation on back of 5% rise in commercial income following Rod Stewart concert at Portman Road & shirt sponsorship but still bottom 6 by Championship standards. #ITFC @Benjaminbloom
Over last 6 years Ipswich total income £98m but wage bill £102m. Ave wage up last season by 'only' £200pw but again low by #EFL #Championship standards where average wage is £15,600 a week. #ITFC
Because wages>revenue Ipswich lost £200,000 a week @AndyhHolt in 2018/19, taking total losses in last 8 years to £68 million. Suspect total Championship losses could be close to £600 million last season as some clubs go for broke to get promoted. #ITFC
Read 4 tweets
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PriceOfFootball
@KieranMaguire
Brighton income up slightly as overseas broadcasting rights increase offsets £4m reduction from finishing 2 places lower than previous season. Income £143.4m compares to £1.6m when they had 1st season in top division in 1979/80 #BHAFC (other PL clubs 2017/18 unless says '2019')
Brighton matchday income flat as average attendance of 30,403 reflects capacity at Amex stadium. Only way to increase it is increase capacity (too costly) or more matches at home. #BHAFC
Broadcast income up 3% to £113m. More overseas income and FA Cup progress good but lower prize money and fewer matches shown on BT/Sky bad for finances compared to previous season. #BHAFC
Read 15 tweets

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Tren Griffin
@trengriffin
My Tweetstorm on how Malone invented the SaaS business model will appear in serial format over the weekend. It is intended to be an antidote against people who don't understand when the model works and when it doesn't. The antidote works against both promoters and detractors.
I remember the day in July of 1994 that this letter below was sent by Craig McCaw. Some people have framed it. I was sent six years after the business was founded announcing the very first accounting profit. Two months later McCaw Cellular was sold to AT&T for $11.5 billion:
3/ "You should earn your right to use a multiple by demonstrating your grasp its economic implications." Michael Mauboussin

"You should earn your right to use a SaaS business model by demonstrating your grasp its unit economic implications."
Tren Griffin riffing on Mauboussin
Read 52 tweets
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Turner Novak
@TurnerNovak
Takeaways on the #SnapPartnerSummit today.

-Snap's US userbase likely grew in Q1
-Launching plug-and-play monetization for developers and publishers
-Bitmoji is a decentralized social network
-$SNAP continues positioning for a post-mobile world of experiential computing

Thread:
$SNAP premium video ads now reach 75% of 13-35 year olds in the US per month (up from 70% when it announced Q4 earnings) and 90% of 13-24 year olds. It reaches more 13-24 year olds than FB or IG in the US, Canada, UK, France, and Australia (some of the largest mobile ad markets)
Having lots of users is important, but where those users are located is even more important in terms of LTV. Facebook likely loses money on most of its users, making up for it significantly in the markets where Snap isn’t too far behind.

Read 28 tweets
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Vishy Kuruganti
@ulaar
Tim O’Reilly on The fundamental problem with Silicon Valley’s favorite growth strategy | qz.com/1540608/the-pr…

Long evocative read. Chiding one & all using Hoffman/Yeh’s Blitzscaling as canvas. Key quotes on thread:
Blitzscaling promises to teach techniques that are “the lightning fast path to building massively valuable companies.”
Blitzscaling “prioritizes speed over efficiency,” and risks “potentially disastrous defeat in order to maximize speed and surprise.”
O'Reilly challenges notion that "network effects" doctrine (as imbibed by SV) is THE way forward.
A strong case can be made that blitzscaling isn’t really a recipe for success but rather survivorship bias masquerading as a strategy.
Read 22 tweets
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Sibel Edmonds
@sibeledmonds
#Khashoggi Case Thread: I am going to ‘pin’ this post to use it as an ‘Info Thread’ on the #Khashoggi Case. I am in #Turkey. I’ve been following the case closely and with access to sources & experts here. This is a very ‘sensitive’ criminal case due to ‘Diplomatic Booby Traps’!!!
The Evidence Obtained Outside Cameras will not show any evidence of ‘tempering’ but other than license plates of dozens of diplomatic cars (Many with tinted windows-large trunks) with related time stamp, drivers Info, model/year: Nothing.
#Turkish Intel-Investigative Bodies also have the list of all Diplomatic & Private Saudi & “other significant’ Planes in #Turkey for the period of ‘interest.’ Many of the Target airports have their own security cameras & related evidence.
Read 335 tweets
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JoeQuesada
@JoeQuesada
I was about to call it a night, but okay since you're here bear with me.

First, let me start out by saying that I respect you as a veteran and thank you for your service to the safety of our country.
As the son and grandson of two vets, I can't say enough about the sacrifice that you guys make. So thank you. That said, I bet there's stuff that we agree on and perhaps more that we don't. But that's life amongst humans.
But what I take most exception to is the way that you've attacked pros, calling for companies to fire some, going after them in ways that go beyond the personal. I know you think it's just a light roasting and why do they take it so seriously and sperg out?
Read 17 tweets

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