BC BUSINESS
Saved by @jay_millerjay

There are so many #HotTakes on the future of news and tech and digital this week. Now nearly half a year distant (and what a year - 2020, ugh!) from CEO and board @mcclatchy, I'd like to add a few thoughts: 1/

 As @jbenton said in @NiemanReports : @mcclatchy transformation shows it STILL is possible NOW 'to be operationally profitable while still doing good journalism.' Not easy; Covid made it harder. But POSSIBLE and DONE by the great team in 2020 @mcclatchy. 2/
As @jbenton wrote: the #DIGITALTRANSFORMATION @mcclatchy 'shows a company that has managed the digital transition better than most; at last public count, it was making nearly half its ad revenue in digital and digital subscriptions were up 45% year-over-year.' Such focus 3/
On the future is digital is the SOLE way the still-powerful brands of local news and information will be able to have a business in the inevitable 'printless' future (Not today, not tomorrow, but printless someday) 4/
And the crisis in local news is relentless, unabating and by most measures WORSENING. More titles going dark; huge losses to our communities, because solely a blend of new digital startups AND existing footprint offer the scale 5/
In our civic life to provide, as Bentham said: the 'publicity that is the very soul of justice.' In @mcclatchy case, as @jbenton wrote: 'walloped by a virus it had no control over' and 'laden by 14-year-old debt' the company had to pursue a restructuring. That's the case. 6/
But: we need to find sustainable solutions to this growing public crisis in local news. And I - for one - say it is possible. And vital. 6/6
Oh - and perhaps this deserves a separate thread: the OPERATING building blocks of successful digital transformation do NOT change -- whether you are a billionaire proprietor or a hedge fund or a not-for-profit philanthropy: (6a)/
By focusing on fearless journalism, relentless customer engagement, standout digital products (HARD and $$$!) and a sensible focus on sustainable operating cash flow, publishers can accelerate digital success and build a sustainable local news business. (6b)/(6b)

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This disruption, we are increasingly learning from top federal sources, was based on a directive, from the Nigerian government to MTN, Glo Mobile and other telecom firms, that sought an immediate blacklist of our web address as well as all other alternative domain names.

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Since our inception, we have diligently carried out our sole duty of bringing to public awareness, the rot that exists in our public and private institutions.

We have exposed the abuse of power by government officials, agencies, and cronies; corrupt practices in the public and private sectors and flagrant abuse of human rights and the rule of law by security agencies.
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While many Amazon warehouse workers in Europe have unionized, its brutalized, underpaid, routinely maimed US workforce remains tragically unorganized, thanks to the US's weak labor laws that make forming a union far harder than at any time since the Gilded Age.

1/


But all that may be about to change: 6000 warehouse workers in #BHM1, the massive Amazon warehouse in Bessemer, AL, will vote next month on a push to unionize under the

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Alex Lieberman ☕️...
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Introducing "The Balloon Effect"

Many businesses & creators have experienced a similar pattern of success.

From @MrBeastYT and @MorningBrew to @oatly and @Rovio.

Let's break down what "The Balloon Effect" is and examples of it in real life.

Keep reading 👇


1/ What is "The Balloon Effect"?

It is a particular pattern of growth.

It is not Instagram's growth trajectory.

It is not https://t.co/5axsTUKek6's growth trajectory.

"The Balloon Effect" is defined by several years of hard work & grit complemented by slow, linear growth.

2/ And then one day, one month, or one quarter...everything changes.

A business hits a tipping point and its trajectory shifts entirely.

Gradual growth turns to exponential growth & your brand and your size explode.

Like a step function.

3/ Now, you're probably wondering.

Why is it called "The Balloon Effect"?

Because filling/popping a water balloon follows the exact pattern I just described (and so many businesses experience).

Long unsexy slog 👉 Exponential tipping point.

4/ Initially, you turn on the faucet & water takes up space in the empty balloon.

Through effort you open the faucet, yet the results are unexciting.

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It's not sexy, but it's necessary.
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There is a lot of bad advice floating around online when it comes to real estate investing.

Time for a stiff drink and some stuff you might not want to hear.

A thread 👇

Most real estate influencers spend 99% of their time trying to sound smart.

They purposely make things too complicated.

When you do this for a while you can tell if a property is worth buying with a napkin and 30 seconds.

The problem with being a big real estate PE firm:

You need to do good deals year after year and deploy 10s or 100s of millions in capital.

It’s a hamster wheel making others wealthy.

The advantage of being you:

One building like this can change your life.


Buying real estate that doesn’t cashflow well because values have risen 10% / yr for 10 yrs while wages have risen 3% / yr for 10 yrs is very risky.

I don’t care how long your interest rate is “fixed” for.

Markets are cyclical. Trends change. Bankruptcy is real.

If you don’t know anyone with money and you have less than $250k of your own cash real estate isn’t the best way to make money.

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