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Startup Archive
Jeff Bezos on how to build a business strategy
“I very frequently get the question: ‘What’s going to change in the next 10 years?” And that is an interesting question… But I almost never get the question: ‘What’s not going to change in the next 10 years?’ And I submit to you that that second question is actually the more important of the two.”
Jeff argues:
“You can build a business strategy around the things that are stable in time. In our retail business, we know that customers want low prices, and I know that’s going to be true 10 years from now. They want fast delivery. They want vast selection. It’s impossible to imagine a future 10 years from now where a customer comes up and says, ‘Jeff I love Amazon, I just wish the prices were a little higher.’ Or, ‘I love Amazon, I just wish you’d deliver a little slower.’ Impossible. And so we know the energy we put into these things today will still be paying dividends for our customers 10 years from now.”
He gives AWS as another example. It’s impossible to imagine AWS customers asking for a less reliable or more expensive service.
”When you have something that you know is true, even over the long term, you can afford to put a lot of energy into it… The big ideas in business are often very obvious, but it’s very hard to maintain a firm grasp of the obvious at all times. But if you can do that and continue to spin up those flywheels and put energy into those things, over time, you build a better service for your customers on the things that genuinely matter to them.”
Video source: @awscloud (2012)
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Jeff Bezos on how to build a business strategy
“I very frequently get the question: ‘What’s going to change in the next 10 years?” And that is an interesting question… But I almost never get the question: ‘What’s not going to change in the next 10 years?’ And I submit to you that that second question is actually the more important of the two.”
Jeff argues:
“You can build a business strategy around the things that are stable in time. In our retail business, we know that customers want low prices, and I know that’s going to be true 10 years from now. They want fast delivery. They want vast selection. It’s impossible to imagine a future 10 years from now where a customer comes up and says, ‘Jeff I love Amazon, I just wish the prices were a little higher.’ Or, ‘I love Amazon, I just wish you’d deliver a little slower.’ Impossible. And so we know the energy we put into these things today will still be paying dividends for our customers 10 years from now.”
He gives AWS as another example. It’s impossible to imagine AWS customers asking for a less reliable or more expensive service.
”When you have something that you know is true, even over the long term, you can afford to put a lot of energy into it… The big ideas in business are often very obvious, but it’s very hard to maintain a firm grasp of the obvious at all times. But if you can do that and continue to spin up those flywheels and put energy into those things, over time, you build a better service for your customers on the things that genuinely matter to them.”
Video source: @awscloud (2012)
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Offshore
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Stock Analysis Compilation
Artisan Partners on Illumina $ILMN US
Thesis: Illumina’s new management is refocusing the company on cost control and sustainable growth in genetic sequencing
(Extract from their Q3 letter) https://t.co/Cny8nHEw3D
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Artisan Partners on Illumina $ILMN US
Thesis: Illumina’s new management is refocusing the company on cost control and sustainable growth in genetic sequencing
(Extract from their Q3 letter) https://t.co/Cny8nHEw3D
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Stock Analysis Compilation
Diamond Hill on Aon $AON US
Thesis: Aon’s integration of acquisitions and consistent cash flow growth position it as a high-quality investment at an attractive valuation
(Extract from their Q3 letter) https://t.co/5LlyMRkoQw
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Diamond Hill on Aon $AON US
Thesis: Aon’s integration of acquisitions and consistent cash flow growth position it as a high-quality investment at an attractive valuation
(Extract from their Q3 letter) https://t.co/5LlyMRkoQw
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Quiver Quantitative
RT @InsiderRadar: $PGNY has ended the day up 15%, after these insider trades were reported last night https://t.co/VqOSIHNy5t
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RT @InsiderRadar: $PGNY has ended the day up 15%, after these insider trades were reported last night https://t.co/VqOSIHNy5t
🚨Breaking: Insider Purchases at $PGNY
The CEO of $PGNY has reported the purchase of ~$3M of the company's stock, increasing his ownership stake by 90%.
The Board Chairman also just reported purchasing $2.2M in shares.
The stock has dropped by over 60% this year, but these are the first insider purchases in over 4 years. tweet
Offshore
Video
Quiver Quantitative
Joe Rogan just said:
“[Nancy Pelosi] is worth 100 something million dollars now. It’s corruption.”
She’s actually worth $272M now, per our estimates.
+$41M this year.
You can track her portfolio live on Quiver.
https://t.co/66kBwLioSd
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Joe Rogan just said:
“[Nancy Pelosi] is worth 100 something million dollars now. It’s corruption.”
She’s actually worth $272M now, per our estimates.
+$41M this year.
You can track her portfolio live on Quiver.
https://t.co/66kBwLioSd
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Offshore
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Stock Analysis Compilation
Diamond Hill on Accenture $ACN
Thesis: Accenture is well-positioned to capitalize on critical technology trends through its differentiated and in-demand services
(Extract from their Q3 letter) https://t.co/qSytsGzyoC
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Diamond Hill on Accenture $ACN
Thesis: Accenture is well-positioned to capitalize on critical technology trends through its differentiated and in-demand services
(Extract from their Q3 letter) https://t.co/qSytsGzyoC
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Investing visuals
Apple $AAPL is nearing a $4 trillion valuation, which I believe is seriously overvalued right now🤷♂️ https://t.co/mgnjBqrZKY
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Apple $AAPL is nearing a $4 trillion valuation, which I believe is seriously overvalued right now🤷♂️ https://t.co/mgnjBqrZKY
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Offshore
Video
Startup Archive
Marc Andreessen on what VCs look for in startups
“The conventional statistics are that about 200 of the 4,000 venture-fundable companies per year will be funded by a top-tier VC. About 15 of those will someday get to $100MM of revenue, and those 15 will generate something on the order of 97% of all of the returns for the entire category of venture capital in that year.”
He continues:
“Venture capital is such an extreme feast or famine business. You’re either in one of the 15 or you’re not.”
As Marc explains, VCs are looking for extreme outliers, and when they’re evaluating your startup, they’re asking themselves if this business is one of the 15 businesses that year that will get to $100MM in revenue.
One principle Marc believes helps firms invest in outliers is investing in strength rather than lack of weakness.
“The default way to do venture capital is to check boxes: really good founder, really good idea, really good product, really good initial customers. Check, check, check, check. ‘Ok this is reasonable, I’ll put money into it.’ But what you find with those checkbox deals is that they don’t have something that makes them really remarkable and special. They don’t have an extreme strength that makes them an outlier.”
The takeaway for founders here is to make sure they highlight to VCs during the funding process that they have a really extreme strength across an important dimension.
Video source: @ycombinator (2014)
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Marc Andreessen on what VCs look for in startups
“The conventional statistics are that about 200 of the 4,000 venture-fundable companies per year will be funded by a top-tier VC. About 15 of those will someday get to $100MM of revenue, and those 15 will generate something on the order of 97% of all of the returns for the entire category of venture capital in that year.”
He continues:
“Venture capital is such an extreme feast or famine business. You’re either in one of the 15 or you’re not.”
As Marc explains, VCs are looking for extreme outliers, and when they’re evaluating your startup, they’re asking themselves if this business is one of the 15 businesses that year that will get to $100MM in revenue.
One principle Marc believes helps firms invest in outliers is investing in strength rather than lack of weakness.
“The default way to do venture capital is to check boxes: really good founder, really good idea, really good product, really good initial customers. Check, check, check, check. ‘Ok this is reasonable, I’ll put money into it.’ But what you find with those checkbox deals is that they don’t have something that makes them really remarkable and special. They don’t have an extreme strength that makes them an outlier.”
The takeaway for founders here is to make sure they highlight to VCs during the funding process that they have a really extreme strength across an important dimension.
Video source: @ycombinator (2014)
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Stock Analysis Compilation
Analysis of Valvoline $VVV US - 2024 Pershing Square Challenge (1st Place)
Thesis: Valvoline is driving growth through new unit development, fleet opportunities, and premiumization, backed by strong economics
(Extract from the Graham Doddsville Fall 2024 Issue) https://t.co/QiegHjq78Z
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Analysis of Valvoline $VVV US - 2024 Pershing Square Challenge (1st Place)
Thesis: Valvoline is driving growth through new unit development, fleet opportunities, and premiumization, backed by strong economics
(Extract from the Graham Doddsville Fall 2024 Issue) https://t.co/QiegHjq78Z
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Stock Analysis Compilation
Silver Beech on Brookfield Corp $BN US
Thesis: Brookfield is simplifying its structure while capitalizing on private market resilience and asset-light fee growth opportunities
(Extract from their Q3 letter) https://t.co/pPhzStjx1L
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Silver Beech on Brookfield Corp $BN US
Thesis: Brookfield is simplifying its structure while capitalizing on private market resilience and asset-light fee growth opportunities
(Extract from their Q3 letter) https://t.co/pPhzStjx1L
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