1/ Thread: My twitter philosophy

I have been active on fintwit for almost a year and half now. When I decided to get out of my lurking phase, I could never imagine this account could ever become such a huge part in my life.

Let me share my philosophy for building this account.
2/ I treat fintwit as my workplace. I try not to tweet something that I would not tweet if my followers were my colleagues.
3/ I do not want to get on a content treadmill which many creators seem to suffer from.

I want to create a fair amount of detachment from input and output.
4/ What are the inputs? It’s the tweets.

Every month, I give myself a quota of ~300 tweets (somewhat arbitrarily chosen). I don’t count tweets every day, but once a month ends, I check my twitter analytics and see how many tweets I posted.
5/ If it’s more than 400, I want to actively try to decrease my time here.

If it’s fewer than 200, it is an indication that I am not spending enough time reading and thinking about interesting ideas.
6/ What are the outputs?

It’s the impressions and/or profile visits I receive.

I try not to judge my content based on likes or impressions. If I care too much about these things, it can create some very twisted incentives.
7/ So far, I haven’t really faced much challenge in the output section.

However, if I ever do, I want to remind myself that I shouldn’t want to "hack" the output, rather focus on improving the quality of input.
8/ Sometimes, looking at my twitter analytics, I feel like twitter would charge me any day now as this website allows me to get ~3 mn impressions every month!
9/ I do not want to turbocharge my following.

If you care about such a thing, there is no number high enough for you.

You have 50k? 100k would be cool. Oh now you have 100k? Maybe a Million would be cooler…

And it goes on.
10/ I don’t want to increase following by doing things just because those work for other people.

Before following/borrowing things that seem to work here, I want to ask myself whether I would do this even if it stopped working.
11/ I love writing threads and I will keep writing even if it goes out of vogue on twitter.

The trick is very simple. There are a lot of things that work on twitter, but if you don’t enjoy being here, it all goes to drain regardless of whether you have 1k or 1M followers.
12/ The good news is I derive enormous utility by discussing/sharing ideas and writing about them.

When I was in college, my friends used to tease me for being too “serious”. I needed to find fintwit to find an audience for all this seriousness that I’m carrying all my life :)
13/ While I enjoy memes and I am eternally grateful that memes exist, I am not good at it and have no interest in making myself good at it.
14/ Lot of misunderstanding on twitter happens for not recognizing different people are on this website for different reasons.

Some are here for a little banter/laughter, some looking to expand their businesses, and some to create a network based on their content.
15/ Some just enjoy reading/following other interesting people.

None of these reasons is inherently better than the other and many engage in a bit of everything.

Enjoying your time on twitter > the number of your twitter followers.
16/ I feel fortunate that so many people follow me which frankly allowed me to launch MBI Deep Dives last September.

July was another good month for mbi-deepdives.com
End/ I have no goal in terms of number/metric.

Just keep at it: that is the only goal for both my twitter account, and MBI Deep Dives.

If I just keep at it, I think I will surprise myself with the outcome in the long term.

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More from @borrowed_ideas

30 Jul
1/ $AMZN 2Q’21 Update

We have all been whispering about tough comps for Covid beneficiary companies, and the comps were indeed quite tough.

Let’s look at segment by segment and some highlights from the call.
2/ First, here’s the breakdown of revenue by segment (both product and geography)
3/ Given 2Q’20 was the beginning of the massive pandemic tailwind, it is more instructive to see 2-yr and 3-yr CAGR to see the underlying strength of the business.
Read 12 tweets
29 Jul
1/ Thread: $FB 2Q’21 Update

Everyone sort of expected Facebook to post a big quarter. It was big indeed, but wasn’t quite jaw dropping big!

I found interesting details about ad inventory (there was a great answer from Sheryl), metaverse etc. from this call. Let’s unpack.
2/ FB’s incremental margins are just as juicy as GOOG’s.

What a wonderfully long, scalable, and profitable secular theme it has been for the last decade!
3/ DAU 1.91 Bn +7% YoY; MAU 2.9 Bn +7%; Family DAP 2.76 Bn +12%

In 2Q’21, # of impressions +6%, avg price/ad +47%
In 1Q’21, # of impressions +12%, avg price/ad +30%
Read 22 tweets
28 Jul
1/ Thread: $GOOG 2Q’21 Update

As investors kept searching for the next “Google”, it turns out you could have done pretty well betting on the real Google with YTD of ~60% or ~30% CAGR in the last 3 and 5 years.

Here are my highlights from the earnings call and quarter.
2/ Every quarter, big tech continues to bend our minds with their numbers.

Regression to the mean? Pfft.
3/ YouTube is growing at 40% and YouTube ads revenue itself was 95% of $NFLX revenue last quarter.

In 1Q’19, YouTube ads was ~67% of NFLX revenue.

YouTube is a beast, and perhaps NFLX isn’t really “big tech”!
Read 14 tweets
22 Jul
1/9 Thread: Who subscribes to MBI Deep Dives?

Because of the price point ($10/month or $100/year), I think the prevalent assumption for MBI Deep Dives (also applies to some other newsletters) is that it’s mainly targeted towards retail investors.
2/9 I don’t quite target anyone. I just do what I do and hope that there are people out there who will find my work useful enough to subscribe.
3/9 Here is a snapshot of 20 funds/firms from which I have at least one subscriber.

I just wrote down the names from memory and then sorted it alphabetically. There are, of course, many other funds subscribing to MBI Deep Dives. Image
Read 9 tweets
19 Jul
1/7 Since I publicly pitched this last year, I would like to disclose that I just sold $ISRG. From ~$550 to ~$950, it was a decent ride, but mostly luck tbh.

2/7 ISRG remains an excellent biz, but I think market is still underestimating the potential impact of delta on recovery path for a company like ISRG.
3/7 I admit I am a little concerned about delta variant. However, it’s always hard to not only predict how the fundamentals will be affected but also how the market will react even if fundamentals are indeed impacted.
Read 7 tweets
15 Jul
1/ Thread: You and Your Research

In 1986, Richard Hamming, a famous mathematician, gave a speech titled “You and Your Research”.

@RishiGosalia insisted I read the speech, so I did. It is one of the few things I would like to re-read many times in future.

Leaving some notes.
2/ “shouldn't you say to yourself,, “Yes, I would like to do something significant”

Success is not a mere byproduct of luck although it does play a role. Many successful scientists had many great work, not just one-off work. Think Einstein, Shannon etc.
3/ Newton said, ``If others would think as hard as I did, then they would get similar results.''

“Once you get your courage up and believe that you can do important problems, then you can. If you think you can't, almost surely you are not going to.”
Read 19 tweets

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