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Trung Phan 🇨🇦 Profile picture
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28 Oct, 5 tweets, 2 min read
Zuck’s with the greatest easter egg ever in his Metaverse presentation Image
called it!!!
Still holding out for this
Easter egg confirmed
SWEET BABY RAY'S EASTER EGG CONFIRMED! Image

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Trung Phan 🇨🇦 Profile picture
31 Oct
Trader Joe's has a playful brand but its business is very serious (annual revenue = $14B+).

With no ad spend or online sales, the chain perfected one psychological hack in its store/product design to achieve industry-leading sales of ~$1.7k per square foot.

Here's a breakdown🧵 Image
1/ "The Paradox of Choice" is the main psychological phenomenon that explains Trader Joe's (TJs) success.

While "choice" sounds great, too many options can lead to analysis paralysis: the inability to make a decision and/or fear of making wrong choice. Image
2/ In 2000, Stanford researches highlighted "The Paradox of Choice" by setting up 2 display tables in a store with:

◻️24 jam option (60% of shoppers tried, 3% bought)
◻️6 jam options (40% of shoppers tried, 30% bought)

The table with fewer jam options converted 10x better! Image
Read 18 tweets
Trung Phan 🇨🇦 Profile picture
28 Oct
In 2003, Eduardo Saverin gave Zuckerberg $15k for a 30% stake in a startup.

That startup is now called Meta. While Saverin was diluted, he is still worth $18B (that 12,000x return is the best investment ever).

LESSON: If your college buddies want to bum money, give it to them. Image
The OG deal: 30% in exchange for 15k into a bank account to pay for “servers”.

Zuck teamed with Saverin cause his family had money (per Zuck: “apparently insider trading isn’t illegal in Brazil.”

businessinsider.com/how-mark-zucke… Image
Other interesting detail, the company was originally incorporated in Florida (Saverin family lived in Miami).

Re-incorporating in Delaware is part of how Zuck diluted Saverin below 10% (plot of “The Social Network”) ImageImage
Read 6 tweets
Trung Phan 🇨🇦 Profile picture
27 Oct
Apple has sold ~2B iPhones.

With a clear understanding of human psychology, Apple designed its packaging to make these ~2B new iPhone unboxing experiences very memorable (and prob why you can't get rid of the box).

Here's a breakdown 🧵
1/ Steve Jobs announced the first iPhone in January 2007.

During the presentation, he noted that Apple had filed or been granted 200+ patents for the device.

One of the patents: the iPhone case.
2/ Jobs and Jony Ive long understood the value of packaging.

As Ive recounts: "Steve and I spend a lot of time on the packaging. I love the process of unpacking something. You design a ritual of unpacking to make the product feel special. Packaging can be theater."
Read 22 tweets
Trung Phan 🇨🇦 Profile picture
25 Oct
“I spend too much at Starbucks” is a legendary meme.

It's also not an accident: the coffee retailer -- worth $120B -- uses many psychological hacks in its store and menu designs to get you to drop more cash.

Here are 11 of them 🧵
1/ Starbucks is all about positioning

The chain has higher prices vs competitors. But that's the point.

People typically assign higher value/quality to higher prices. Known as "irrational value assessment", this makes Starbucks an everyday luxury that people will pay for.
2/ Premium brand = premium customer base

By setting its prices higher, Starbucks attracts clientele that are relatively price insensitive.

Starbucks frequently raises its prices with little negative effect to its bottom line.
Read 22 tweets
Trung Phan 🇨🇦 Profile picture
23 Oct
Costco is the world's 3rd largest retailer by sales, notching $190B+ annually (behind Amazon, Walmart).

The company is all about "value" and uses psychological hacks in its business model and store design to get shoppers to spend dough.

Here are 14 of them 🧵
1/ At Costco, the membership is the core asset. Customers pay $60-120 per year for the right to buy comically large cans of tuna (AKA incredible value).

In its last reporting year, membership fees were 2% of revenue ($4B of $195B), but accounted for 70%+ of Costco's $5B profits.
2/ Membership psychology 1

In the early 2000s, Costco CEO Jim Sinegal told Jeff Bezos (who would roll out Prime) that "the membership fee is a one-time pain".

But the value of the concept is "reinforced every time customers sees 47" TVs that are $200 less than anyplace else."
Read 26 tweets
Trung Phan 🇨🇦 Profile picture
21 Oct
After everything, Adam Neumann will walk away from WeWork with $2B+.

The money never changed him: Image
Honestly, pretty incredible WeWork was able to turnaround to its $9B+ IPO today.

Relevant excerpt from the WeWork book: Image
Also, never forget this wild text exchange between Masa and Softbank COO Marcelo Claure (WeWork chair) on how they planned to stonewall a $3B WeWork tender:

axios.com/softbank-masay… Image
Read 4 tweets

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