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Trung Phan 🇨🇦 Profile picture
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22 Nov, 4 tweets, 2 min read
Elon’s Yelp review of JPMorgan is lit
People, this is parody. But if it made you laugh, you’ll love my Saturday newsletter: trungphan.substack.com
However, I did find these hilarious reviews posted on Yelp today

🔗 yelp.to/JQoFMbU9olb
yelp on that free earned media lol

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More from @TrungTPhan

Trung Phan 🇨🇦 Profile picture
24 Nov
Charlie Munger said "show me the incentive and I will show you the outcome."

A great way to learn this lessons: look at poorly-designed rules (AKA bad incentives) that had unintended consequences.

Here are 10 examples 🧵
For years, Domino's Pizza had this famous promotion: delivery within 30 mins OR the pizza was FREE.

Delivery drivers often sped to make the deadline and caused a number of accidents.

One crash victim sued Domino's and was awarded $79m. The chain shut the promotion down. Image
English law in Wales set the death penalty for stealing a sheep.

Beastiality was a lesser penalty, so Welshmen caught stealing sheep claimed they planned to make love to the animals.

As a result, Welshmen were given the nickname "sheep shaggers". Image
Read 16 tweets
Trung Phan 🇨🇦 Profile picture
21 Nov
Been writing threads on how the world's largest companies (eg. Apple, Ikea, Starbucks) use psychological hacks to get people to spend money.

Here are 10 deep dives 🧵
1/ The "Ikea Effect"
2/ Costco + value
Read 13 tweets
Trung Phan 🇨🇦 Profile picture
18 Nov
"The Psychology of Money" by Morgan Housel is the book I've re-read the most in recent years.

Packed with insights on investing, mindset and our relationship with money. Very valuable with the current pace of markets.

Here are 8 takeaways 🧵
1/ For financial success, psychology is more important than smarts
2/ Ultimate prize = controlling your time
Read 14 tweets
Trung Phan 🇨🇦 Profile picture
17 Nov
In the late-1990s, Shaq was at the Beverly Hills Hotel in LA when he overheard 2 people talking about a new technology.

Turns out they were Google employees. Shaq ended up getting pre-IPO shares in the startup and it remains his best investment ever.

LESSON: Always be sourcing.
For other hard-hitting life lessons, check out my Saturday newsletter: trungphan.substack.com

More from Shaq:
Shaq, Tiger, Arnold and Henry Kissinger all in the same round lol

Think Bezos did $250k for 1% of Google around then, too.
Read 5 tweets
Trung Phan 🇨🇦 Profile picture
14 Nov
It's estimated that ~1% of the world's population eats at McDonald's every day.

McDonald's best lever to influence purchase decisions is the menu, which the $190B fast-food chain designs with many psychological hacks to boost sales.

Here are 10 of them 🧵
1/ In the mid-2010s, McDonald's sales were lagging. The brand turned around its fortunes with a multi-year menu & store redesign that:

◻️emphasized simplicity (speeding up avg. drive thru time from 400 secs to 350 secs)
◻️highlights signature items (pricier = higher margins)
2/ Here is McDonald's challenge: loyal customers love the classics (Big Mac, McChicken).

And they spend only 30 secs on the menu (getting them off default options is hard).

But McDonald's sells 2B+ meals a month, so influencing choices for a small % of customers boosts profits.
Read 19 tweets
Trung Phan 🇨🇦 Profile picture
14 Nov
For investing, I’m a big believer in long-term thinking. You can’t be swayed by day-to-day volatility.

Here’s my portfolio over a multi-decade time horizon:
FYI: This is not investment advice but you should listen to the Not Investment Advice (NIA) podcast.

🔗 podcasts.apple.com/us/podcast/ep-…
For people concerned about my portfolio, I forgot to add the "Centuries" curve
Read 5 tweets

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