This interview from @OSchiffey has great quotes that directly refute the nonsense that many privacy advocates spout about how the death of cross-site tracking will help ad-supported publishers on the open web. https://t.co/bj1gWPKOei 1/
More from Finance
Buffett's letters taught me more about investing than any business school ever could.
Even after investing for 14 years, I uncover new insights every time I reread his letters.
Recently, I reread his letters from 1977 to 2020 for a third time.
Here are my key insights:
1. Moat is NEVER stagnant
A company's competitive position either grows stronger or weaker each day.
Widening the moat must always take precedence over short-term targets.
2. Commodity businesses
A business without moat will have its returns competed away.
Regardless of improvement, your competitors will quickly copy your advantage away.
Where returns on capital is dismal, reinvestment will only destroy value.
3. The flywheel effect
Buffett was preaching about the flywheel effect before it became cool.
Back then, newspapers were similar to today's platform businesses like Amazon, Meta, and App Store.
More readers beget more advertisers beget more readers.
4. Operating leverage
Companies with high fixed costs and low variable costs will see earnings rise faster than revenue.
However, it cuts both ways.
It becomes a disaster when revenue is declining.
Check out my article on how operating leverage works: https://t.co/Nv747oBAK0
Even after investing for 14 years, I uncover new insights every time I reread his letters.
Recently, I reread his letters from 1977 to 2020 for a third time.
Here are my key insights:
1. Moat is NEVER stagnant
A company's competitive position either grows stronger or weaker each day.
Widening the moat must always take precedence over short-term targets.
2. Commodity businesses
A business without moat will have its returns competed away.
Regardless of improvement, your competitors will quickly copy your advantage away.
Where returns on capital is dismal, reinvestment will only destroy value.
3. The flywheel effect
Buffett was preaching about the flywheel effect before it became cool.
Back then, newspapers were similar to today's platform businesses like Amazon, Meta, and App Store.
More readers beget more advertisers beget more readers.
4. Operating leverage
Companies with high fixed costs and low variable costs will see earnings rise faster than revenue.
However, it cuts both ways.
It becomes a disaster when revenue is declining.
Check out my article on how operating leverage works: https://t.co/Nv747oBAK0
** MEGA THREAD ON Cryptocurrencies/Blockchain**
I wanted to know the best resources to learn about cryptocurrencies and blockchain for someone with zero knowledge. I asked Twitter, and Twitter answered.
This thread is a compilation of the best resources I was recommended. 👇👇
Let's start with ** BOOKS **
The first thing you should do before you pick up any book:
Learn about Bitcoin & Ethereum by reading the respective whitepapers.
- [Bitcoin white paper](https://t.co/cErOaFn6QL) by Satoshi Nakamoto
- [Ethereum White paper] (https://t.co/0g5kYCGJGq) by Vitalik Buterin
Even if you are not tech savvy, you can get a good grasp about how blockchain functions from these papers.
1) *The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology that Powers Them* by Antony Lewis
This book covers topics such as the history of Bitcoin, the Bitcoin blockchain, and Bitcoin buying, selling, and mining.
It also answers how payments are made and how transactions are kept secure.
Other cryptocurrencies and cryptocurrency pricing are examined, answering how one puts a value on cryptocurrencies and digital tokens.
I wanted to know the best resources to learn about cryptocurrencies and blockchain for someone with zero knowledge. I asked Twitter, and Twitter answered.
This thread is a compilation of the best resources I was recommended. 👇👇
Let's start with ** BOOKS **
The first thing you should do before you pick up any book:
Learn about Bitcoin & Ethereum by reading the respective whitepapers.
- [Bitcoin white paper](https://t.co/cErOaFn6QL) by Satoshi Nakamoto
- [Ethereum White paper] (https://t.co/0g5kYCGJGq) by Vitalik Buterin
Even if you are not tech savvy, you can get a good grasp about how blockchain functions from these papers.
1) *The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology that Powers Them* by Antony Lewis
This book covers topics such as the history of Bitcoin, the Bitcoin blockchain, and Bitcoin buying, selling, and mining.
It also answers how payments are made and how transactions are kept secure.
Other cryptocurrencies and cryptocurrency pricing are examined, answering how one puts a value on cryptocurrencies and digital tokens.
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Stan Lee’s fictional superheroes lived in the real New York. Here’s where they lived, and why. https://t.co/oV1IGGN8R6
Stan Lee, who died Monday at 95, was born in Manhattan and graduated from DeWitt Clinton High School in the Bronx. His pulp-fiction heroes have come to define much of popular culture in the early 21st century.
Tying Marvel’s stable of pulp-fiction heroes to a real place — New York — served a counterbalance to the sometimes gravity-challenged action and the improbability of the stories. That was just what Stan Lee wanted. https://t.co/rDosqzpP8i
The New York universe hooked readers. And the artists drew what they were familiar with, which made the Marvel universe authentic-looking, down to the water towers atop many of the buildings. https://t.co/rDosqzpP8i
The Avengers Mansion was a Beaux-Arts palace. Fans know it as 890 Fifth Avenue. The Frick Collection, which now occupies the place, uses the address of the front door: 1 East 70th Street.
Stan Lee, who died Monday at 95, was born in Manhattan and graduated from DeWitt Clinton High School in the Bronx. His pulp-fiction heroes have come to define much of popular culture in the early 21st century.
Tying Marvel’s stable of pulp-fiction heroes to a real place — New York — served a counterbalance to the sometimes gravity-challenged action and the improbability of the stories. That was just what Stan Lee wanted. https://t.co/rDosqzpP8i
The New York universe hooked readers. And the artists drew what they were familiar with, which made the Marvel universe authentic-looking, down to the water towers atop many of the buildings. https://t.co/rDosqzpP8i
The Avengers Mansion was a Beaux-Arts palace. Fans know it as 890 Fifth Avenue. The Frick Collection, which now occupies the place, uses the address of the front door: 1 East 70th Street.
