My 10 most popular tweets from 2020

Happy New Year everybody!

[THREAD] ⬇️
1/ Thread on how American Express works
2/ Thread on how Coca-Cola makes money
3/ Thread explaining popular software terms
10/ Thread from Charlie Munger's Daily Journal Meeting
End/

Happy New Year! I appreciate you!

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More from @investing_city

10 Dec 20
1/

I'm not sure about this C3.ai one.

Just because it got the "AI" ticker doesn't mean it should be up 124%!

The last 4 quarters (in mils):
$41.0
$41.6
$40.5
$41.3

Pretty much 0 sequential growth in almost one year...
2/

Three customers (Engie, Caterpillar, and Baker Hughes) make up 44% of revenue.

Very high customer concentration.

In fact, there are only 64 total customers.

These are some ENTERPRISE deals. Long sales cycles.
3/

Each of the top 3 customers makes up more than 10% of revenue.

If we split the 44% by 3 ways, the average contract value for these customers is $24 million.

The ACV for the remaining 61 customers is $1.5 million.
Read 9 tweets
30 Oct 20
1/7

My Shopify Q3 earnings call notes

Revs up 96%
GMV up 109%
GPV up 126%
$99 billion TTM GMV
$43.6 billion TTM GPV
$97 million in free cash flow
Merchants solutions revs up 132%
Subscriptions up 47% (25% sequentially!)

Screenshots below ⬇️
2/7

- Buy Now Pay Later was rolled out
- 10 million MAUs on the Shop app
3/7

E-commerce software in the 2000s was "janky as hell"
Read 7 tweets
27 Oct 20
With the company's latest earnings report last week, Elon Musk satisfied the requirements for his 4th stock option tranche.

Here's how it all works...

[THREAD]
1/

At the beginning of 2018, Tesla filed a proxy statement, outlining the proposed comp plan for Musk.

He wouldn't receive a salary, options, RSUs, etc. Everything would rely on this comp plan.

Source:
sec.gov/Archives/edgar…
2/

The plan consists of 2 parts:

1) Operational goals (16 of them)
2) Market cap goals (12 of them)

Here are the operational goals:
Read 18 tweets
24 Oct 20
Evan Spiegel, the founder of Snap, is now worth $9 billion.

Guess how old he is?

30.

Here's the story of how he did it...

[THREAD]
1/

Evan Spiegel was born June 4, 1990 to two highly successful lawyers, Melissa and John.

He attended Crossroads high school in Santa Monica, known for its focus on the arts and personal improvement.

Spiegel described his computer lab teacher as "his best friend."
2/

In high school, his parents divorced and he moved in with his dad to Pacific Palisades.

John Spiegel would take Evan to build houses down in Mexico and Evan spent the last year of high school taking design classes.

Among other things, these efforts took Evan to Stanford.
Read 25 tweets
14 Oct 20
1/11

2 quotes from FSLY's Q2 earnings call:

"We are pleased with the number of new enterprise customers as well as customers who grew into the enterprise category. However, this strong growth was offset by some customers falling out of the category in COVID-impacted industries"
"Any ban of the TikTok app by the U.S. would create uncertainty around our ability to support this customer. While we believe we are in a position to backfill the MAJORITY of this traffic...the loss of this customer's traffic would have an impact on our business."
These two quotes relate to the reasons for cutting guidance:
Read 12 tweets
14 Oct 20
Zoom's user conference, Zoomtopia, is incredibly impressive.

Below is a picture of the home screen once you log-in.

Each section (keynote, speakers, video library, etc.) is a different "geography"...
For instance, the "Rooms" geography is modeled after this place in the Arctic.

You can see the digital replication in the background of this picture.
And the experience is gamified.

For visiting different geographies and watching sessions you get "stamps" on your "passport" that you can then trade in for real prizes.
Read 5 tweets

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