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26 Jan, 9 tweets, 3 min read
Some slides I thought were really interesting from @ARKInvest's recent 2021 Big Ideas presentation...

Source: research.ark-invest.com/hubfs/1_Downlo…
1/ "Deep learning could create more economic value than the internet did"
2/ Freemium widens the funnel
3/ Venmo and Cash App both have roughly 60 million annual active users.

Their CAC's are magnitudes lower than traditional banks as well.
4/ Difference between Bitcoin price and search volume from 2017 vs. now
5/ Electric vehicles could reach price parity in 2 years
6/ Later in the presentation, Ark also mentions how important drone delivery could be for food delivery
7/ Great timeline of genomic sequencing
End/

Highly recommend going through the presentation.

Thanks to the team at ARK for sharing!

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More from @investing_city

Ryan Reeves Profile picture
28 Jan
Genomics Thread #2

Let's talk about gene sequencing...
1/ The first genome was sequenced in 1977 by Fred Sanger of a bacteriophage.

The first human genome wasn't sequenced until 2003 after 13 years of research through the Human Genome Project.

It took $3 billion (apparently $1 for each base pair 😅)
2/ In the past two decades, the cost of sequencing DNA has declined at an astounding rate.

From $3 billion with the Human Genome Project to well under $1,000 today. Image
Read 10 tweets
Ryan Reeves Profile picture
27 Jan
Genomics Thread #1

Before diving into companies, let's make sure we understand some terms.

Spoiler: there's a WHOLE lot to learn...
1/ It starts with DNA (deoxyribonucleic acid) or your "genetic code."

It's a double-helix structure that is made up of chemical base-pairs (A pairs with T via 2 hydrogen bonds and C pairs with G via 3 hydrogen bonds). Image
2/ DNA sits in the nuclei of your cells.

How many cells do you have?

Roughly 37 trillion.

And our cells aren't static. They are actually dividing constantly.

How often?

Nearly 2 trillion times per day. Image
Read 11 tweets
Ryan Reeves Profile picture
15 Jan
Following up on how GoodRx fits into this ecosystem...

continued [THREAD] ⬇️
1/ If you haven't already read through the prescription drug value chain, I'll give a super brief breakdown.

Distribution: Manufacturers -> Wholesalers -> Pharmacies

Payment: Employer -> Health insurance companies -> PBMs -> Distribution points
2/ GoodRx sits in an interesting spot, benefitting from the opaque industry and the PBMs specifically.

To be clear, GoodRx doesn't work with insurance.

It works if you're paying out-of-pocket.
Read 17 tweets
Ryan Reeves Profile picture
14 Jan
Took the afternoon to understand the prescription drug market a little better.

Here are some ramblings on the value chain...

[THREAD] ⬇️
1/ It starts with the manufacturer of the drug. These are the pharmaceutical companies like Pfizer, Abbott Labs, AbbVie, Merck, GSK, etc.

Top 5 by revenue (in billions):

Johnson & Johnson – $56.1
Pfizer – $51.8
Roche – $49.2
Novartis – $47.5
Merck & Co. – $46.8
2/ As an aside, we're talking prescriptions which are usually chemical-based rather than organism-based. The latter are often researched by biotechs instead of pharma.

But pharma companies sometimes don't even manufacture the drugs themselves...
Read 23 tweets
Ryan Reeves Profile picture
1 Jan
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
Read 12 tweets
Ryan Reeves Profile picture
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

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