"Small deals rely on promises and contracts. Big deals rely on alignment and trust."
@naval
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I'm glad to see @jbenton's excellent analysis shows what a good job McClatchy CEO @cforman has actually been doing. The fault for bankruptcy goes *way* back to prior regimes piling up unmanageable debt. He rescued the company. 1/https://t.co/EEbxWXBNvW
— Jeff Jarvis (@jeffjarvis) July 16, 2020
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/
Here are 10 that are pure gold:
Fund-raising is hard for all of us.
@justinkan shares some unique insights on how to do it well.
I've raised over $150,000,000 as a founder, simply by being a good storyteller.
— Justin Kan (@justinkan) October 20, 2021
Here's how to get VC's to throw money at you:
We rarely hear honest reflections from founders on what they messed up.
@apartovi shares his reflections on a deal that went wrong with Steve Jobs.
As the world celebrated Steve Jobs\u2019s life last week, I recalled a lesson he taught me. My one meeting with Steve didn\u2019t end well. It\u2019s one of my most painful memories, and a warning to startup CEOs about the danger of taking hype too far. Here\u2019s the story. (1/n)
— Ali Partovi (@apartovi) October 10, 2021
Some gems in this thread by @agazdecki on a wide variety of founder
Here's 20 of my top startup tweets... \U0001f9f5
— Andrew Gazdecki (@agazdecki) October 16, 2021
shares some solid principles learned from building a multi-billion dollar business.
Over the last 5 years, I built a $4B company.
— Ryan Breslow \U0001f57a (@ryantakesoff) September 20, 2021
Sounds awesome right?
Not until recently.
I made every mistake imaginable.
The toughest part was getting my head right.
Here are the 12 mindset rules that I\u2019ve developed.
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Ironies of Luck https://t.co/5BPWGbAxFi
— Morgan Housel (@morganhousel) March 14, 2018
"Luck is the flip side of risk. They are mirrored cousins, driven by the same thing: You are one person in a 7 billion player game, and the accidental impact of other people\u2019s actions can be more consequential than your own."
I’ve always felt that the luckiest people I know had a talent for recognizing circumstances, not of their own making, that were conducive to a favorable outcome and their ability to quickly take advantage of them.
In other words, dumb luck was just that, it required no awareness on the person’s part, whereas “smart” luck involved awareness followed by action before the circumstances changed.
So, was I “lucky” to be born when I was—nothing I had any control over—and that I came of age just as huge databases and computers were advancing to the point where I could use those tools to write “What Works on Wall Street?” Absolutely.
Was I lucky to start my stock market investments near the peak of interest rates which allowed me to spend the majority of my adult life in a falling rate environment? Yup.