I've never heard a politician who had me smiling and nodding the whole time. Some reasons why:
Suarez says he's talking to local universities as well as courting engineering schools (including Stanford) to open campuses in the state and increase STEM graduates🏆
He understands that taxes don't create wealth. Rather, it's free enterprise and human ingenuity that do. In short, technological progress. It was the industrial revolution--many waves of it--that painted this picture of exponential wealth:
He's spot-on in understanding major issues like immigration (we need many more people to be successful), job creation, climate change and that more housing supply = lower prices.
What a breath of fresh air. Mayor @FrancisSuarez, don't change.
And about progress (including another topic Suarez touched on: New York's insanely expensive subway-mile): hellerhs.com/post/how-shoul…
One last thing: crypto. Suarez smartly seized the moment, put the Bitcoin whitepaper on the city’s website, and is focused on this future industry as a huge job creator—which it will be. Massive opportunity to turn Miami into a crypto economy powerhouse.
"The prestige growth he's catalyzed may not show up in Miami's GDP or population numbers for a while, but it's the kind of energy you see in an early Clubhouse or Ethereum — and the kind you always bet on."
Lemonade $LMND LTV/CAC calculation. First, let's look at TTM LTV and gross profit per customer. Gross profit margin is running ~18-20%. I'm assuming ~70% of S&M spend for advertising:
Also interesting to look at in-force premium growth on a TTM basis, and how many dollars of IFP growth the company got out of every dollar of ad spend ($1.76 in latest quarter):
LTV/CAC calc: assume 20% gross profit margin (IPO video says eventually 35%!), $213 of premium per year, 7.7 year lifetime = $327 of lifetime GP which / $150 of CAC = 2.2x
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...🤦🏻♂️
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.”