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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
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
Brian Feroldi Profile picture
Aug 17
"Margin of Safety" by Seth Klarman is an incredible investing book.

But a used copy costs $1,200!

Here are 26 short investing lessons from this classic book (for free): Margin of Safety
1: Markets are volatile. Never invest unless you are sure a "margin of safety" exists.

2: Focus on the intrinsic value of an investment. Only act when there's a meaningful difference between value and price. Image
3: Focus on the downside first. Avoid taking big losses.

4: Disciplined analysis, thorough research, and a patient, long-term perspective lead to superior returns.

5: Value investing isn't easy. Expect long periods of underperformance.
Read 12 tweets
Brian Feroldi Profile picture
Aug 16
The P/E ratio SUCKS.

It’s a flawed metric that deceives investors.

Here's exactly why the P/E ratio can be INCREDIBLY misleading (and what to use instead): Image
The P/E ratio's flaw is that the "earnings” can be misleading.

If “earnings” aren’t sustainable, or are artificially inflated/depressed, the P/E ratio will be wrong.

Here's all the reasons why that can happen...
1: Accrual Accounting

The GAAP income statement uses accrual accounting.

Accrual accounting is useful, but it’s basically an accountant’s opinion.

Here are some of the expenses that can cause “earnings” to be higher or lower than the actual cash flow of a business Image
Read 19 tweets
Brian Feroldi Profile picture
Aug 15
7 visuals every investor should memorize:

1: In the long run, stocks win: Image
2: You make far more money by holding through bull markets that you lose by holding through bear markets. Image
3: Investors are their own worst enemy.

Why do they underperform?

Their behavior. Image
Read 8 tweets
Brian Feroldi Profile picture
Aug 13
The Rule of 72 is the MOST IMPORTANT "mental math trick" for investors to know.

Here's how it works:
Humans tend to think *linearly*.

When we see a curve, we mentally approximate it by a straight line.

This helps us cope with changes in the world around us. Image
But in finance/investing, we need to think *exponentially*.

Money compounds.

Growth doesn't happen at a constant pace; it *accelerates* over time.
Read 16 tweets
Brian Feroldi Profile picture
Aug 12
Tom Engle has lived off of his portfolio for 40 years (!!!)

How? He's an incredible investor with a BRILLIANT cash management strategy.

Here's exactly how it works (step by step): Image
Let's say Tom's portfolio is worth $100,000 in the middle of a bull market.

Tom is happy with this number and wants to protect it.

He mentally calls this $100,000 his "protected value."

All his cash management decisions are based on this number. Image
Tom always keeps an eye on the macro and has a feel for if the market is:

▪️Under-valued
▪️Fairly-valued
▪️Over-valued

Tom keeps ~12% of his "protected value" in cash in a fairly-valued market.

That's $12,000 Image
Read 19 tweets

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