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Trung Phan 🇨🇦 Profile picture
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1 Nov, 4 tweets, 3 min read
Charlie Munger is getting dragged for his proposed 4,536 room (11 story) UCSB dorm design with half the rooms lacking natural light.

Honestly, looks a lot better than the closet I lived in first year at McGill University. ImageImage
The gym and common area look frickin’ awesome

🔗 drive.google.com/file/d/1IgEAYC… ImageImageImageImage
As long as the Munger Hall has space for a beer pong tourney, I’m in (yes, that’s me rocking a Nick Van Exel purple Lakers jersey) Image
Munger clearly a beer pong enthusiast

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More from @TrungTPhan

Trung Phan 🇨🇦 Profile picture
4 Nov
Birkin Bags are the crown jewel in Hermès $170B+ luxury empire. One bag can cost ~$50k and the record sale is $500k.

Why so pricey? Hermès has perfected the psychology of scarcity and demand (or as its CEO Axel Dumas describes it: “creating desire”).

Here’s a breakdown🧵 Image
1/ Hermès is the world's top ultra-premium lux brand. And it runs its own playbook with:

◻️Few ads
◻️No marketing dept
◻️Few celebrity endorsements

Rather, Hermès creates desire for its products (including Birkin Bag) in 2 powerful ways: *managed scarcity* and *managed desire*. Image
2/ Long heritage

A powerful source of scarcity is history. Founded in 1837 by Thierry Hermès as a leather workshop, Hermès passed through 6 family generations and is now run by the Dumas clan.

(Lux competitor LVMH knows the power of heritage:it owns 10+ brands over 100yr old) Image
Read 20 tweets
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🧵
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.
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!
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
28 Oct
Zuck’s with the greatest easter egg ever in his Metaverse presentation Image
called it!!!
Still holding out for this
Read 5 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

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