I haven’t yet read the 449-page report yet, but this is why Zuck said a republican government might be better for Facebook. The conclusion that we must break up our crown jewels, which are consumer staples of the 21st century and create vast consumer surplus, is asinine. Image
I know a half dozen wrong-headed academics who make their living as moral panic entrepreneurs will be happy about this report.

Nobody else will. Certainly not their customers—the vast majority of us.
Nobody tell the FTC about click-and-collect, delivery...🤦🏻‍♂️ Image
Amazon is a "gatekeeper for e-commerce" 😂 sure, if you ignore Shopify, Square, Wix, Facebook, Instagram, and, you know, the rest of the internet (http://...) Image

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More from @MarceloPLima

21 May
Zuck:

- I expect 50% of our workforce will be remote over next 5-10 years

- COVID will be with us for a while

- Goal is to do our work better, not just maximize flexibility

- Gives us access to NEW POOLS OF TALENT and recruit more broadly (this is huge) that previously...
...wouldn't have considered moving to a big city

- One of the top reasons people leave us is they're moving to a city where we don't have an office

- Improved retention is very important

- I want us to live in a country where people have opportunity no matter where they live
- Positive environmental impact: less commute and less travel

- Easier to move bits around than atoms (VR/AR/video chat rather than sitting in traffic)

- Helps us eat our own dogfood in Portal, Workplace, Messenger Rooms, and over time AR & VR

- Workplace is now at 5m paid...
Read 17 tweets
7 Mar
I'm fascinated by huge market drawdowns and how the bottom is never obvious.

As they say, "Nobody rings a bell at the bottom."

In the Great Recession, the market bottomed on March 9th, 2009; it never looked back, and it was the start of one of the best bull markets ever.
Here are some choice quotes from the NYT, TWO DAYS before the bottom:

Byron Wien: he advises small investors to buy gold and corporate bonds, not equities, which, he said, may be too risky right now.
Barton Biggs: advises well-to-do investors to arm themselves with shotguns if need be against the possibility of a deepening downturn and accompanying “social unrest.”
Read 17 tweets
6 Mar
Pandemics seem to come in waves that reach a peak then die. This is the 1918 influenza pandemic. First wave was over in 6 months: Image
This is coronavirus in China, 2019-2020. That purple line is the equivalent wave (although these are cases, not mortality as above): Image
This is rest of the world. Still on the upswing. How long until it reaches the peak and subsides? Image
Read 19 tweets
12 Feb
Lyft's call last night was disappointing in 4 ways. First, while Uber feels a sense of urgency and has moved up its profitability target AND put out a 25% EBITDA target, Lyft did none of this. It's still sticking to its Q4 2021 profitability target.
Second, Uber pointed out that its EBITDA flow-thru rate was 80% (incremental EBITDA/incremental revenue) and that Dara is demanding just 55% from the team:
Meanwhile, Lyft is delivering flow-thru rates of ~30% and their FY2020 guidance implies 22% which is...disappointing to say the least:
Read 8 tweets
1 Jan
If you think your education is holding you back, remember that Thomas Edison never learned to spell and was home schooled by a mom who was completely unqualified.

It was his insatiable curiosity that propelled him forward. Image
Up to his 20s, Edison thought nothing of walking 150 miles to the next town to find work.

He frequently slept in rat-infested rooms and worked surrounded by cockroaches.

It's amazing how much wealthier & comfortable society has become since then (1860s).
Oh boy, the short sellers would go wild with this one Image
Read 19 tweets
29 Oct 19
1/It's fascinating when companies have "hidden businesses" that nobody is paying attention to. Facebook has two of them: Oculus and Workplace. I've got a whole thread on Oculus here:
2/Workplace is similar to @Slack or @MicrosoftTeams: collaboration software for work. It started as an internal tool at Facebook and then grew to > 40k customers and today > 3 million paid users (seats):
3/Workplace is a real SaaS business with all the integrations you'd want. It's led by two ex Microsoft employees, @codorniou and @_karandeep. The product is free for nonprofits and pricing for regular enterprises is very competitive:
facebook.com/workplace/pric…
Read 16 tweets

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