More from @TrungTPhan

Trung Phan 🇨🇦

@TrungTPhan

27 May

I interviewed trading legend Stanley Druckenmiller, who famously made $1B shorting the British pound ("trade of the century").

Today worth $5B, his track record includes a 30-year stretch returning 30%+ per year (and not a single down year).

Here are 10 investing lessons 🧵

1/ Make concentrated bets in high conviction plays

2/ Concentrated bets actually reduce risk

Read 15 tweets

Trung Phan 🇨🇦

@TrungTPhan

23 May

Found a great Reddit thread: "What's a rule that was implemented somewhere that massively backfired?"

Here are the best ones 🧵

1/ Alcohol bans at college football games led to increased intoxication problems because fans were getting really drunk before entering the stadium.

2/ "English law in Wales set the death penalty for stealing a sheep. Welshmen caught stealing sheep would claim to be making love to them.

They would get a lesser penalty for beastiality. The consequence of this is Welshmen gained a reputation as 'sheep shaggers'."

3/ In Soviet Russia, steel producers were rewarded by the total weight output of the factory.

This led to production of oversized and un-usable strips of steels. End users had no choice but to take the impractical strip sizes and machine them down, thus wasting steel.

Read 16 tweets

Trung Phan 🇨🇦

@TrungTPhan

20 May

1/ Netflix is known for its cuthroat culture and willingness to pay top dollar for superstar talent.

The approach is explained in a famous 2009 slide deck: Netflix's strategy has to do with managing "complexity" and "creativity".

These 7 slides explain it 🧵

2/ Netflix competes in media and tech (knoweldge work that require creativity). A high-performer in the field is 10x better than an average performer.

In a "procedural" field (eg manufacturing), the best is only 2x better (industries that deal with atoms are naturally capped).

3/ Most businesses get more complex as they grow.

To deal with this, companies introduce processes (and bureaucracy), which has the adverse effect of driving out creative talent.

Read 13 tweets

Trung Phan 🇨🇦

@TrungTPhan

14 May

Read some great articles on Spotify's user-friendly interface.

Here are 8 notable UX decisions it makes🧵

1/ Dark mode (which Spotify was been using since early days)

◻️ White text on dark background is easier on the eyes
◻️ Visual comfort = more browsing
◻️ The color scheme is a major contrast to Apple Music

2/ Mobile player more spacious vs. Apple Music

◻️ Apple (L) has the volume control, which crowds the screen
◻️ Spotify (R) has *no* volume control (most people control mobile volume with side phone button)

Read 11 tweets