"that moment would represent Olo becoming the majority order channel for that customer... the dawn of digital ordering primacy. We're now seeing Olo restaurant customers who are processing 100% of their transaction volume through the Olo" - @nhglass
"QSR brands have grown over the years through franchising, leading to disparate technology systems across franchisee operator groups and manifesting in the kind of non-homogeneous environments for which $OLO was purpose-built"
$OLO on Dark/Ghost Kitchens
Table Service 2.0
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h/t @Kap_Attack_ for a fantastic must read book recommendation
"The following pages are in fact the result of a constructive effort to detect, know and thus possibly neutralize one of the most powerful, dark forces which hinder the growth of human welfare and happiness"
First Law: Always and inevitably everyone underestimates the number of stupid individuals in circulation.
"Insurance can only work in Mediocristan; you should never write an uncapped insurance contract if there is risk of catastrophe. The point is called the catastrophe principle."
"{thick tailed}, extreme events away from the centre of the distribution play a very large role. Black Swans are not "more frequent", they are more consequential. The fattest tail distribution has just one very large extreme deviation, rather than many departures from the norm"
1) I am as conservative as anyone on a clean balance sheet but does $TDG suggest $HEI is just way way too underlevered?
2) Is this too backward looking?Monetary policy (or anything really) doesn't have to play out the way it did in March in the next crisis (did $TDG raise debt post-Fed support?).
3) What are the biggest differences between business models/revenue splits that allow $TDG to carry so much more debt.