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Brian Feroldi Profile picture
@BrianFeroldi
Sep 27, 2020 • 8 tweets • 2 min read • Read on X
A brief history of $GOOG

1995: Larry Page & Sergey Brin meet at Stanford
1996: Build search engine called 'Backrub' in dorm room
1997: Change name to Google, misspelling "googol"
1998: Move into Susan Wojcicki's garage
1998: Sun co-founder Andy Bechtolsheim invests $100k
1999: Raise $25 MM from Kleiner Perkins / Sequoia
2000: Launch AdWords
2000: Default search engine for Yahoo!
2001: Hire Eric Schmidt as CEO
2002: Launch Google News
2004: IPO at $85, raise $1.67 BB
2004: $25 billion market cap
2004: Move into Googleplex
2004: Launch Gmail
2005: Launch Google Earth
2005: $100 BB market cap
2005: Launch Google Maps
2006: Acquire YouTube for $1.65 BB
2006: Launch Google Docs
2007: Acquire DoubleClick for $3.1 BB
2007: Launch AdSense for Mobile
2008: Launch Chrome
2009: Launch Waymo
2010: Launch first Android phone
2010: Launch Google Fiber
2010: Launch think tank Jigsaw
2010: Launch R&D subsidiary Google X
2011: Launch Chromebook
2011: Launch Google+
2011: Launch Google Wallet
2011: 1 billion monthly users
2011: Acquire Motorola Mobility for $12.5 BB
2011: Launch Project Loon
2012: Launch drone subsidiary Wing
2013: Acquire Waze for $966 MM
2013: Launch healthcare company Calico
2013: Launch private equity subsidiary CapitalG
2014: Acquire DeepMind for $400 MM
2015: Launch life sciences subsidiary Verily
2015: Launch subsidiary Sidewalk Labs
2015: Change name to Alphabet
2015: Split shares into $GOOG and $GOOGL
2015: Name Sundar Pichai CEO
2016: $500 billion market cap
2017: 100% renewable energy
2019: Launch Stadia
2020: $1 trillion market cap

Currenly have 9 (!!!) products with 1 billion+ users:

Android
Chrome
Drive
Gmail
Maps
Photos
Play
Search
YouTube
TTM Revenue: $166 billion
TTM Profits: $31.6 billion
Return since IPO: 2,770%

Larry Page: $62 billion net worth (#9 in world)
Sergey Brin: $60 billion net worth (#11 in world)
Eric Schmidt: $17 billion net worth

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More from @BrianFeroldi

Brian Feroldi Profile picture
Sep 6
Tangible vs Intangible Assets.

What's the difference?

Here's everything you need to know: Image
They confused me until I discovered an easy way to distinguish them:

𝗧𝗮𝗻𝗴𝗶𝗯𝗹𝗲 𝗔𝘀𝘀𝗲𝘁𝘀 𝗖𝗮𝗻 𝗕𝗲 𝗧𝗼𝘂𝗰𝗵𝗲𝗱

𝗜𝗻𝘁𝗮𝗻𝗴𝗶𝗯𝗹𝗲 𝗔𝘀𝘀𝗲𝘁𝘀 𝗖𝗮𝗻'𝘁 Image
Another major difference.

- Tangible assets are depreciated

- Intangible assets are amortized Image
Read 6 tweets
Brian Feroldi Profile picture
Aug 31
How to analyze an Income Statement, FAST.

Warren Buffett’s 8 Income Statement 'Rules of Thumb': Image
1: Gross Margin

🧮 Equation: Gross Profit / Revenue

👍 Rule of Thumb: 40% or higher

🤔 Buffett's Logic: A consistently high gross margin signals that the company isn’t competing exclusively on price. Image
2: SG&A Margin

🧮 Equation: SG&A Expense / Gross Profit

👍 Rule of Thumb: 30% or lower

🤔 Buffett's Logic: Wide-moat companies don’t need to spend a lot on overhead to operate & convince consumers to buy. Image
Read 11 tweets
Brian Feroldi Profile picture
Aug 30
Some stocks are STRONG BUYS when they fall

Other stocks are SELLS when they fall

How can you tell the difference?

Watch for these 5 financial yellow flags: Image
1) GOODWILL WRITEDOWN

This represents the premium a company pays for an acquisition above its fair market value.

If there’s a major goodwill write-down on the Income Statement, it means management has wasted a TON of capital. Image
2) GROSS MARGIN DECLINING

1: The competition is forcing me to lower prices
2: Demand is weak
3: My suppliers are raising prices

Either way, it can be a thesis-busting development Image
Read 9 tweets
Brian Feroldi Profile picture
Aug 29
Capitalism is brutal.

If you invest, you MUST know how to identify a moat.

Here are 9 financial “rules of thumb” that Warren Buffett uses to tell if a company has one: Image
1: Gross Margin

Found: Income Statement

Formula: Gross Profit / Revenue

Moat: Consistently above 40%

No Moat: Under 40% & volatile Image
Buffett’s logic:

A consistently high gross margin signals that the company isn’t competing exclusively on price.

A high gross margin also provides ample gross profit to pay expenses and leaves money for shareholders.
Read 22 tweets
Brian Feroldi Profile picture
Aug 27
How to analyze an income statement in less than 2 minutes: Image
The income sheet is one of the three major financial statements.

It shows a company’s:
▪️Revenue (Sales)
▪️Expenditures (Costs / Expenses)
▪️Net Income (Earnings, Profits)

Over a period of time. Image
Management teams have leeway in categorizing their income statement.

This means that not all income statements look the same.

Here is a typical layout and the meaning of the most commonly used terms: Image
Read 11 tweets
Brian Feroldi Profile picture
Aug 26
Financial Statements For Beginners

Want to learn accounting?

Study these 9 simple infographics (a visual thread) ↓ Image
Image
Financial Statements DO NOT have a universal layout

Here are some other balance sheet terms you might see: Image
Read 9 tweets

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