This has been the best terrible year of my life.

I feel guilty saying that. I know this was a year of suffering. But I feel insanely grateful for what's happened on a personal level.

So, this is my gratitude thread, in no order. A thank you to those that made 2020 amazing.
1

@leifthunder

Thank you for giving me the encouragement to share my thoughts online. You pushed me more than once.

And thank you for bringing @public to an ever-growing audience. It's been such an amazing place to share and learn about investing.
2

@packym

My most frequent (and hilarious) collaborator. Thank you for always been game to jump into the mix on some random initiative, and for bringing the heat, time after time.

As you put so well here, "The Best is Yet to Come."
notboring.substack.com/p/the-best-is-…
3

@polina_marinova

There was a time when I very nervous to share Twitter threads. (Now, I may have the opposite problem).

Thank you for giving me courage to tell stories this way, and for leading the way with the consistent quality of The Profile.

theprofile.substack.com/p/the-profiles…
4

@danshipper

Seeing you, @nbashaw, and @adam_keesling kill it with the Everything bundle made me realize that writing online could be a viable career.

Thank you for that, your beautiful sentences, and support in tricky times.

talktherapy.substack.com/p/41-a-bad-sit…
5

@daveambrose

Thank you for being the first person I message every time an S-1 drops. You made me believe there was value in that product, and in what I was putting into the world.

I've learned an absurd amount from you.
7

@brett1211

Thank you for always making me feel like part of the family, as I made the step into the world of solo-creating.

And for building an amazing product for community-builders, everywhere.

kumospace.com
8

@ljin18

The first time I heard the term "passion economy" was from your piece. You framed an industry in a way that suddenly made sense to me.

And you continue to define this movement. I can't wait to unleash some freshness together in 2021.

hbr.org/2020/12/the-cr…
9

@amandapey

Thank you for being such a sympathetic reader, and an invaluable source of advice. I've learned a lot from you.

And I can't wait to watch Braid's continued evolution.

braid.co
10

@nbt

You are one of the rare cases of someone whose stellar reputation both precedes them and somehow, still, undersells them.

Thank you for being a true empathy athlete, a deep and generous thinker, and a person of integrity.

nbt.substack.com
11

@blakeir

Thank you for introducing me to so many fascinating subjects both through conversation and your public thinking. It's encouraged me to be more strategic in building.

You are also at the vanguard of a new kind of VC that I'm grateful for.

youtube.com/channel/UCjKsE…
12

@libovness

Thank you for morning walks in Brooklyn, for reading random snippets of fiction, and for sharing truly novel ideas with the RFS community.

And, of course, for actually enjoying the odd SAT vocab word I insist on flavoring The S-1 Club with.
13

@apompliano

Thank you for being a generous collaborator, and an example of how to build a real, engaged audience.

I learn a lot from watching (and talking) with you.
14

@bradwolverton

I think I would have backed down if it wasn't for you. Thank you.

15

@patrick_oshag

You've relentlessly set the bar for creating valuable conversations about investing. (And now founding).

Thank you for showing how it should be done, and for supporting those just at the start of the journey.

joincolossus.com
16

@lennysan

Thank you for being one of the most genuinely kind people I've met this year. I can't tell you how much I appreciate your time, advice, and example.

lennyrachitsky.com
17

@joshelman

I remember the first time you tweeted at me, I was a bit starstruck. Thank you for building products people love, and for sharing your experience and wisdom.

I can't tell you how much I've appreciated your support.
18

@fkpxls

Thank you for being both dreamer and pragmatist, and for always keeping it real. I have huge admiration for your inventiveness and sharp-eye for detail.

And, of course, *thank you* for being one of the first people to read and like my public writing.
19

@sajithpai

I was glad to find our mutual interest in literature, and am grateful for your support and encouragement.

I can't wait for more of your great ideas to grace RFS. (Someone really needs to build SuppliedBy!)

rfs100.substack.com/p/digital-terr…
20

@nick_dewilde

You've given me so many good ideas over the year, from pushing my thinking on creator-audience dynamics, to refining the format of RFS.

You're also just a real, kind human. I'm glad to know you and can't wait for more fun days ahead.
21

@N8Elliott @edwardrooster @MarksBrainwaves @yollo @omoloyeadesinak @marvinliao @MPrinParr

Thank you for being awesome folks to jam with on Twitter. And for sharing articles or initiatives from The Generalist that you dug. I appreciate you.
22

@sperand_io @zack_bahm @omarsthinking @Jer_Diamond @akinhwan @nckstu

Thank you all for making the RFS group chat so much fun. New ideas, sharp perspectives, and the embodiment of "strong opinions, loosely held."

Can't wait for more riffs in 2021.
23

@cm_brown90 @AnnikaSays @averyklemmer @Stewbradley @brettbivens @nanduanilal @itsmeeraclark @dlwei17

Serial S-1 ballers.

Thank you for being game to jump into the nitty-gritty of a filing, and find the gold. And for being such generous thinkers to work with + learn from.
24

Lastly, I'm grateful for you, whoever is reading this. I'm sorry to end on so corny a note. But I feel absurdly fortunate that people online, around the world, are interested in hearing what I might have to say.

So: thank you. Thank you for reading. Here's to a great 2021.

• • •

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More from @mariodgabriele

22 Dec
Barry Diller has built one of the most unique businesses in the world.

IAC is an "anti-conglomerate" — a combination of companies meant to split apart. Over the years, that's included $EXPE, $MATCH, $TREE and others.

This is his playbook 👇

thegeneralist.substack.com/p/the-barry-di…
1

First, a little history.

Diller started out in the mailroom of William Morris after dropping out of UCLA. He rose through the ranks, serving as the assistant to legendary exec Elton Rule.

One of Diller's innovations was the "ABC Movie of the Week," the made-for-TV movie. ImageImage
2

Over time, Diller established himself as a force in the traditional entertainment industry.

He served as CEO of Paramount, producing hits like 'Taxi,' 'Grease,' and 'Indiana Jones.'

As CEO of Fox, he greenlit 'The Simpsons.' Mr Burn's appearance was based on Diller. ImageImage
Read 16 tweets
20 Dec
The @MrBeastYT Burger phenomenon makes an opportunity very clear.

Impromptu RFS: Drop Kitchen

- Network of existing restaurants with excess capacity
- Backend plugs into consistent wholesale supply
- Distribution (solo app + via existing networks)
- Power tools for influencers
Rationale/benefit for restaurants...

- You're a local taco restaurant
- You have fixed costs
- Demand is inconsistent
- You could make a solid burger with specific instruction

Increase top-line by helping serving new demand. Could even add "prepared by X."
Rationale/benefit for creators...

- Access massive distribution (surpassing ghost kitchens)
- Collaborate with local business
- Plug into existing networks
- Added tooling specifically for creators (below)

Plug into social graphs to reward top fans, etc.
Read 6 tweets
3 Dec
DoorDash is expected to IPO next Wednesday. The S-1 Club dug in.

- $1.9B revenue YTD
- 18M customers
- Contribution margin positive

H/t @ranjanxroy @cristinagberta @averyklemmer @thenewb @daveambrose @nanduanilal @michaelxbloch
@d_mccar

thegeneralist.substack.com/p/doordash-the…
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$DASH in 1 minute.

- Insane revenue growth (+226% YTD)
- Expected valuation of $32B
- Highly-capitalized with $2.5B raised
- Exceptional management, led by Tony Xu
- Fierce competitive dynamics could cause trouble
- Concerns over market
2

Beginnings.

It all starts with Tony Xu. His family emigrated from China when he was 5. His mother worked in restaurants. He gained an understanding of the business at a young age.
Read 25 tweets
2 Dec
An update for "compounder" fans...

Now that a little time has passed, I'd like to get the ball rolling for Parts 2 + 3 of the C.R.E.A.M. series on the subject.

To kick things off, I created a new mini-site: PublicCompounders.com

Here's why I wanted to make this a thing.
1

You might remember that writing about this caused me a little trouble last time around.

A prominent hedge fund threatened to sue me for using phrases like "good to great," among other things. You can catch up on the full story, below.

2

Then, Twitter clapped back.

Thanks to the support of the amazing people on this website, the fund backed off.

Along with that kindness came suggestions for great compounder resources, and genuine interest in contributing to Parts 2 + 3.

That's where the website comes in.
Read 6 tweets
30 Nov
The S1 Club's Airbnb report is here!

- $2.5B revenue YTD
- $3.4T reported TAM
- 91% of site traffic was organic
- Slowing growth (pre-c19)

H/t to @howardlindzon @packyM @itsmeeraclark @cm_brown90 @AnnikaSays @LennyIce @Stewbradley @kjlabuz + CCB.

thegeneralist.substack.com/p/airbnb-the-d…
1

$ABNB in 1 minute.

- An absurdly resilient company
- Excellent management team
- Revenue down 32% YoY
- Big win for Sequoia and Founders Fund
2

Number of mentions in the S-1.

- COVID-19: 215
- Connection: 203
- Belonging: 45
- Brian Chesky: 126
- Joe Gebbia: 60
- Airbnb Experiences: 15
- Resilience: 12

The story of the filing is the pandemic and $ABNB's response. That involved refocusing on values like "belonging."
Read 17 tweets
9 Nov
Is Peloton a religion? Is Lululemon a cult?

No.

By misusing religious terminology, we may overlook the new, spiritual organizations that *are* being born.

Bitcoin and Tesla bear the markings of genuine denominations.

/thread

thegeneralist.substack.com/p/modern-gospe…
1

What defines a religion?

There are plenty of frameworks, but I like Émile Durkheim's. He said all religions have three characteristics:

1. Unified belief system
2. A moral community
3. Sacred objects Image
2

Sacred "objects" can be icons, gods, or ideas. Most religions have many.

- Christianity: God, Jesus, Virgin Mary
- Buddhism: Siddhartha, Four Noble Truths
- Judaism: God, Menorahs, Mezzuzah

These embody the values and rituals of the religion.
Read 20 tweets

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