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.
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...🤦🏻♂️
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://...)
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.”
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:
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.
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
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…