Vimeo: "We have 3500 enterprise customers. These are customers who pay us over $20,000 a year.
There's about 1M companies out there that have over $10M of revenue. Every single one of them should be using video and not just externally in their marketing but also internally"
Chart from Piper showing customer counts
"since the pandemic, I do think our view on the size of the market has changed. Particularly on the enterprise side we see a larger TAM, that's just because we see now with much more validation the desire for organizations to be video first in every way that they communicate."
"we have clear demand from our enterprise customers today, we're not guessing in our roadmap. these are customers who are paying us, saying, if you could just give me this as well, I will pay you twice as more much or I will expand from one department to 15 departments."
"GoDaddy and Shopify partnerships that we launched less than 6 weeks ago, those are driving 10s of thousands of new SMBs to our platform... conversion rates we're seeing users from our Shopify integration for example, they'converting to paid plans at a significantly higher rate "
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He makes a point I have in the past, which is while the percentage of direct traffic is nice, at the end of the day, absolute level of traffic arguably matters more. And for now, Booking is far larger.
Performance marketing is a skill, much derided by some, but nonetheless it is a necessary skill for almost all companies. Booking is the best. Airbnb has struggled at it. Perhaps they can survive on direct traffic alone, but that's a risky bet.
"They are scared not of prison, the official said, but of being attacked by Trump on Twitter. They are scared he will make up a nickname for them. They are scared that they will be mocked, or embarrassed, like Mitt Romney has been."
attempting to discredit elections to protect yourself from a mean tweet
The timeline in the Bloomberg story on Hulu is that Hulu presented a plan to go international at the end of 2019. Iger and McCarthy were initially supportive and were to present at a Board meeting in Jan 2020.
Publicly, on the Q3 call in November they were asked about taking Hulu international and said they’d have more to say after the new year and that “we’re working through the formulation of a strategy in terms of what markets...”
On the Q4 call in Feb 2020, after the Jan Board meeting, Iger said
“We are working up a plan to take Hulu internationally. We actually have a lot of specifics around it”
“We do plan to begin rolling Hulu out, I’d say probably in 2021 internationally”
Did he say this with a straight face? The balance sheet is a strategic tool? The wash-writedown-repeat cycle remains part of their DNA? Wonderful stuff here.
The attempts to paint the M&A spree as part of some strategic plan as opposed to just stumbling around, runs head first into the reporting about said deals
Definitive evidence for the bored markets hypothesis:
“It’s better than the stock market,” Mr. Garcia said. “I got a bunch of these plants when they were in the double digits, and now they are in the four-digit realm.”
“Flora with sought-after features, such as splashes of color and holes in their leaves, are often the result of genetic mutations...
The ghostly white streaks of the Variegated Monstera Albo can send prices up to $250 per leaf.”
Ah yes:
“Longtime plant lovers say the craze for rare plants is reminiscent of a housing bubble, or the tulip mania that gripped the Netherlands during the 1600s, when bulb prices hit stratospheric heights before crashing.”
This story of Will Danoff getting a muffin is fantastic
Amazing
“I was like, Herb, the great Warren Buffett says he got — he lost a lot of money in U.S. Air. How can you make money in the airline industry? And he said, Warren bet at the wrong airline”