Been rounding up Reddit posts that reveal "industry secrets". Here are some great ones 🧵

1/ Live Events

"At any concert you attend, the best sound will be directly in front of the engineer at the main soundboard."
2/ Book Writing

"It costs about $200k to put your own book on the top of the NY Times Bestseller List. All you have to do is buy a lot of copies yourself."
3/ Casino

"I'm not in the casino industry, but I am in the fire service: Casinos pump an extra 1% of oxygen into the air to make you more alert and give you more energy. You stay longer and spend more money. It's also why casino fires are so catastrophic."
4/ Dog trainers

"I don't train the dog. I'm training YOU. Unfortunately, so many behavioural issues in dogs are caused by the owners. 90% of training dogs is human therapy."
5/ Retail

"If you ever hear 'Code Brown' over the walkie talkies at Target, it means they found sh*t on some of the clothes in the softlines."
6/ Airlines

"Your flight wasn't cancelled due to weather. There's an equal chance it got cancelled because of maintenance, staffing or scheduling problems. If there's a cloud in the sky, it will be coded as 'weather cancellation' so they don't have to comp hotel/meal vouchers."
7/ Recruiting

"IT recruiter here. I redo all your resumes. People add too much 'flair' to the CVs. I don't need boxes and tables. It's not cute. Stop it. A simple word doc with limited formatting works fine and makes you look a LOT better on paper."
8/ Jewellery

"Most items for sale have a 'min' and 'max' price. Don't take the price tag at face value. Ask straight up: 'what is the min on this item?'. Say it like you know what you're talking about and they will usually tell you."
9/ Blood banks

"I work at a plasma center. Your bottle of plasma goes for around $1000. We give you $25."

"Red cross makes a ridiculous amount of money selling plasma to makeup/skin care companies."
10/ Childhood education

"I’m a teacher. If you as a parent will read with your child often and early, your child will thrive in school. I’m talking daily books read together from newborn to about third grade. Every single day. No teacher can replace that."
11/ Starbucks

"I'll decaf someone if they are really rude to me. I only do it when the customer is being a REAL a-hole. You have to really earn those decaf shots from me."

"The shops spend more on dairy ingredients than on coffee."
12/ Dentist

"I’m a dentist. Here’s the lowdown on toothpaste. As long as it has fluoride they are all basically the same."
13/ Cosmetics

"I used to work in skincare: None of the products cost more than $2 to manufacture, but would retail at anything from $20 to $150 per product. For perfumes, the glass bottles and spraying mechanisms costs more than the liquid inside."
14/ Doctors

"It's illegal to overpay doctors. However, it is *not* illegal to operate a separate company that all of the doctors have shares in that a health care organization 'rents' its offices from."
15/ Recruiting (Pt. 2)

"I used to screen resumes for small companies. Job 'requirements' are more of a wish-list situation. Never let some unchecked boxes deter you from applying - you have no idea what the applicant pool is like."
16/ Spas

"A 'high class' spa I worked at used epsom salts and vegetable oil for their $65 salt scrubs."
17/ Insurance

"Liberty Mutual Insurance puts every claim through an algo to determine whether to fight a dispute in court. The algo is able to guess the lawyers and judge that will participate and decides primarily based on their records."
18/ Food

"Most sushi places will use the same distributor and have same quality of seafood. The difference between a fancy sushi place and a hole in the wall is pretty much the environment, and the price."
19/ Hotels

"Used to work in a business hotel. If you get scrambled eggs on Sunday morning, you can be 100% sure it's left over from Friday morning."
20/ Military

"The stuff you buy that's 'military standard' doesn't necessarily mean it's very good quality at all. It simply means it was made by the lowest bidder. A lot of military-issued kits aren't that good and gets replaced by personal kits of better quality."
21/ Walmart

"Come to Walmart deli after 7-8pm. We mark everything down. You're welcome."
22/ Def follow @TrungTPhan for other random internet gold ... and lots of dumb memes:
24/ Film

"When a movie trailer has shots that turn out 'missing' from the actual movie, that's not because they were cut. Those shots never existed. The trailer didn't test well and the studio inserted scenes specifically made for the trailer during 'additional photography'."
25/ Trucking

"There is a period of time every year that in the US, the Department of Transportation pulls over any and every truck that they can. During this period many trucking cos take vacation time, as the potential hassle is not worth the money made during this time."
26/ Volunteer Work

"Cleaning up animals after oil spills is feel good propaganda to make the public think they are helping. 90% of the those animals will be dead within a few days or weeks from ingesting oil. Real work is done by trained professional crews, not volunteers."
27/ RV vehicles

"RV technician here. Shit is designed to start breaking after around 44 uses. Most RV owners use their trailers on weekends. But not every weekend. So that 44 uses on average stretches between two and three years."
28/ Art world

"A lot of successful artists at a certain level of success do nothing more than create a concept and employ several assistants, who are either current or graduating art students, who actually make the art itself, its reproductions or both."

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More from @TrungTPhan

11 Jun
this is a devastating discovery
ME: I’ll never eat Nutella again.

Read 6 tweets
11 Jun
Salesforce Ventures is crushing late-stage investing:

◻️Monday: $75m @ IPO —> $10m+ gain on first-day pop
◻️Zoom: $100m @ IPO —> ~$300m exit (3x)
◻️Snowflake: $250m @ IPO, position is ~$750m (3x)
◻️ Auth0: $120m investment —> $408m w/ sale to Okta (3.4x)
Salesforce had a $2.2B investment markup gains in 2020 (40% of EPS).

Other late-stage investments:
• Databricks
• Twilio
• nCino
• Dropbox
• Tanium
Startups love Salesforce Ventures cause they don’t block deals and don’t take a board seat
Read 5 tweets
10 Jun
1/ Steve Jobs famously said innovation is "saying no to 1000 things" before you say yes.

For more than a decade, Apple has used Pablo Picasso's Bull to drive home the lesson.

Here's a breakdown 🧵
2/ In Dec. 1945, Picasso created "The Bull", a series of 11 lithographs (stone prints).

With each successive print, a bull is simplified and abstracted. Picasso's goal was to find "spirit of the beast".

At Apple, employees are taught this philosophy.
3/ Below is the 1st, 4th and last stone print.

Picasso's bull progresses from:
◻️ a realistic drawing
◻️ to a deconstructed image with his famous "abstract" style
◻️ to a series of lines outlining the bull's shape
Read 15 tweets
9 Jun
Pretty Wild. GameStop's CEO, CFO and CSO are all now former Amazon execs.

Interesting side note:

The original letter that Michael Burry wrote to GameStop's board in July 2019 criticized the company for letting Amazon acquire Twitch.

For Burry, that signalled an inability to properly allocate capital and that GME should do share buybacks instead.
Sorry: Elliott Wilkes is the CGO, Chief Growth Officer (not Strategy)
Read 4 tweets
8 Jun
The Wall Street Bets due diligence on Wendy’s is gold.

The catalysts are:
◻️ The release of a new summer salad
◻️ The @Wendys Twitter account, which has mastered “meta pragmatic roasting” (which is effective with younger people)
◻️ The fact it literally sells chicken tendies
Here’s a more fundamentals-driven analysis of Wendy’s…
Read 5 tweets
7 Jun
If you need to know how savvy Mayweather is as a business person, watch this.

He literally knocks Paul out but holds him up to extend the fight and increase the odds of a rematch PPV payday LOL
I’ll tell you where the real genius is. We have no idea if this *actually* was a knockout.

And we’re all talking about it.

They both about to get more bags.
follow @TrungTPhan for other amateurish video deep dives
Read 6 tweets

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