Marketing is the ultimate meta skill.

Lifehack: Most people are awful at marketing.

Flying is accidentally the best ever environment for DEEP work and reflection.

Writers like @rickygervais do their best work on airplanes.

Here's 6 reasons why.

THREAD...

What looks like a bug - can often be a feature.

“A change of perspective is worth 80 IQ points.”

The restrictions we face on airplanes is what makes the experience so liberating.

AIRPLANE FEATURE 1 - HIGH EXIT COSTS

You can't find any escapes.

If you try to escape, you face death.

Negative incentives are built into the system.

"Incentives are a super power." - Charlie Munger

AIRPLANE ADVANTAGE 2 - NO INPUTS

There's no newsfeeds to refresh. No emails to reply to.

It's like knowing your heroin dealer is in a coma.

Boredom is built into the system.

Your monkey mind can't access dopamine - so it starts creating its own.

It is a distraction-free environment:

1. No socialising - You don't know anyone. No small talk.

2. No sound inputs - The engine acts as white noise.

3. No visual inputs - The seating structure means you see barely anybody.

THREAD: The top 0.1% of ideas I’ve stumbled upon on the internet.

The rabbit holes (without the distractions).

1. Directional Arrows of Progress

“Study the undeniable arrows of progress.” - @wolfejosh

• The future is kinda like a crossword puzzle.

• Nobody is going to spell out for you - but clues exist.

• Wolfe uses the trend line of history as clues for the future.

• E.g. Look at this directional arrow of progress

• Every time the computer gets more powerful, smaller and closer to our bodies.

• Wolfe used this trend line to bet that Brain-Machine interfaces will be huge and started funding companies in the space.

2. The Cobra Effect

”When a measure becomes a goal, it ceases to become a measure” - @G_S_Bhogal

• British colonialists tried to reduce the snake population in India.

• They offered bounties for dead cobras with cash given out to the killers

• The incentives back-fired...

• The local population started breeding cobras & killing them.

• When the government discovered this, the reward program was scrapped.

• The cobra breeders then released their $0 snakes into the street, making the problem much worse.

If I had to give a lecture series on marketing, here's 11 points I'd include:

1. Data is like protein:

It’s valuable - but it shouldn’t be your *only* input.

If all your decisions are guided by A/B tests, you’ll eventually end up with a porn site.

2. The infinite ROI skill stack:

A. Understand how people work - Lindy.

B. Understand platforms + culture - Ever-changing.

Live in the barbell.

3. The best marketers are open source for the *first time ever*

• You can visit ad libraries
• You can sign up to newsletters
• You can see the copy on their website

There's no centralised database like Github - but it's there for the resourceful

4. Copy or reverse-engineer

A. If you want to do good marketing, just copy the greats.

B. If you want to do great marketing, reverse engineer the principles behind great marketing.

Warning: You will then be copied.

5. Think with headlines first

Mr. Beast has full time staff who's sole job is to write headlines for YouTube videos.

If the headline is good, they then make the video.

This is the inverse of making the headline fit the story.

Think of distribution before creation.

Josh Waitzkin might be the most INTERESTING person alive.

He doesn't have Twitter. And he barely uses the internet.

I've compiled my favorite 5 MENTAL MODELS of his below.

THREAD...

WAITZKIN MODEL 1 - DEPTH OVER WIDTH

His life so far:

1. Chess prodigy + National champ

2. 2x world champion in Tai Chi push hands

3. The 1st black belt in Jiu-Jitsu under Marcelo Garcia (GOAT)

4. He's now in an unknown ocean town mastering surfing + advising elite investors

The Waitzkin paradox:

He's achieved more WIDTH across disciplines in 43 years than most could in 100 lives

How?

His obsession with DEPTH over WIDTH.

His life is the testimony to deep work and singular focus.

He spends 5-10 years of his life dedicated to each craft

Even when he approaches a new discipline, he goes for DEPTH within the DEPTH

E.g. Chess

Most just play countless games

Instead, Josh insists on having only 3 pieces on the board - King & Pawn vs King

He drills micro positions until he understands them from first principles

“I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times” - Bruce Lee

Waitzkin's theory is that once you've understood one thing so deeply in the discipline - you understand the principles

You can then copy & paste them

THREAD: The top 0.1% of marketing mental models.

Compressing a 6-year career into the best 8 ideas:

1. Contrast Is A Drug

• Rolls Royce stopped exhibiting at car shows

• They started exhibiting at private aircraft shows

• "If you've been looking at jets all afternoon, a £300,000 car is an impulse buy. It's like putting the sweets next to the counter" - @rorysutherland

2. The Best Content Involves A Red Pill

• "If you want to build a good podcast, following, or blog - you've gotta create your red pill"

• Hand society something they're not hearing anywhere

• Society says blue pill. Your content says red pill.

(@finnscave via @ShaanVP)

• The irony is that the red pill metaphor is itself a red pill - once you see it, you can never unsee it.

• The best content creators on the internet all have their own red pill, which makes their content so enticing.

E.g. @jockowillink's red pill:

• Society's Blue Pill: Writing is a boring activity from school

• @david_perell's Red Pill: Writing online is the fastest way to accelerate your career

1. “Why Would This Ad Appear On The Front Page Of The Irish Times On January 23rd 2020” ? 🧵1/18 🕵️🔎

Just looks like a regular ad, doesn’t it. Well it isn’t 👇

2. If I was looking at this ad for the first time I wouldn’t pay much attention to it unless I wanted to test drive a Ford. Something then jumped out at me. 201 Event. Swap it round and you get Event 201. A test drive for Event 201 🤔

3. Just in case you don’t know what Event 201 is and when it took place. Event 201 took place on October 18th 2019 in New York. It was attended by the WHO, WEF, Bill & Melinda Gates Foundation & John Hopkins Center for Health

4. The John Hopkins Center for Health Security who ran the event receives funding from WHO, BMGF, FDA, Homeland Security and The Rockefeller Foundation to name but a few.

5. Please read this (Part 1) to understand what happened at Event 201

SaaS Marketing: Getting your first 10 and 1000 paying customers

So you've identified a problem and built a SaaS product. What's next?

Finding customers of course!

Thread 👇

👉 What is SaaS marketing?

Marketing is the set of activities you perform or strategies you execute that help build awareness of the problem you solve and the solution you provide in the minds of your target audience.

Lol, that's a boring definition.

Marketing is when you tweet, when you post on LinkedIn, when you wear your company's branded t-shirt before going on a podcast or video, when you run Google or Facebook ads, or if you write an article answering the specific pain points and questions faced by your target audience.

In the context of SaaS marketing, what you need to understand deeply are

• Customer acquisition cost (CAC)
• Lifetime value (LTV)

If you are selling a $50/mo SaaS product, should you spend time or money equivalent to $300 to acquire 1 customer?

It depends on LTV:CAC ratio.

If your average customer stays with you for 1 year, then $300 is a perfectly fine CAC.

Marketing experts have figured out that having a 3:1 ratio of your LTV:CAC is perfect, but in the early days you just need to know whether you are spending less than you are earning.

1/

Bruce Greenwald EPV valuation:

Get a cup of coffee.

Today I will help you understand the Earnings power value framework and how you can implement it in your valuation analysis.

@contrarianEPS @10kdiver
@FI_InvestIndia @Dinesh_Sairam

2/

Before proceeding, let me tell u a thing. We make two assumptions when using this approach. Those are

1. Current profits are sustainable.

2. No growth (More about this later)

Let's get started.

3/

Imagine, you have 50 lakhs of cash. You invested 30 lakhs into bonds, gold, real estate, and crypto. You plan to invest the balance of 20 lakhs into a business.

4/

An owner of a food business in your town planning to sell his biz for 15 lakhs as he was about to retire. You thought to buy that biz.

Looking at the accounts, you have understood that the biz is making 2 lakhs profits yearly.

5/

As an investor, you demand a minimum of 10% yield from the biz.

Why? Simple. The risk-free govt bond yield is trading at 6%. Since you are taking some risks, you demand an additional 4% return.

Marketing, Content, & Audience

Clubhouse highlights from @Julian, @shl, @mkobach, & @tobydoyhowell:

When building an audience, optimize for 3 things:

Volume
➡ How many followers?

Affinity
➡ How much do they prefer your tweet to the same one from someone else?

Recursive power
➡ How influential are your followers toward your goals?

Here's how to do marketing:

People follow to be entertained.

Entertain people & remind them that you exist.

You'll be top of mind when they want to sell an e-book or are frustrated by a slow check-out.

Don't make marketing more complicated than it is.

Forget funnels.

@mkobach just wants @Fast to be present to more people & knows 2M > 1M.

@tobydoyhowell just wants people to see MB everywhere & realize that the Brew is inevitable

Fact: people are more relatable than brands

Building your company around a personal brand(s) is a competitive advantage.

@Fast encourages & even helps people to build their personal brands

We've used "seller financing" on two self storage deals in the past year.

And it raised our cash on cash return by 20%+.

And lowered the amount of capital we needed by $500k.

Here's a THREAD about a deal of mine and how this magical debt structure can work.

👇👇

My method is simple. In the late stages of negotiation I submit two offers:

One at a lower price.

And one at the exact price the seller wants but with him holding back 10-20% of the purchase price in the form of a 2nd mortgage (with a second position to your bank loan).

Contrary to popular belief seller financing rarely includes the seller holding back 70-80% and acting as your bank.

Two reasons:

#1 most have some debt on the property.

#2 most want most of their money now.

Have you heard the saying:

"you name the price and i'll name the terms?"

This is a case of that situation exactly.

Lets paint a picture here:

Last week I was negotiating with a seller on a property in a small western PA town.

Not many interested buyers so I knew I had some leverage.

His asking price was $4.5MM. I wanted to pay $4.2M.

After a week or two and a lot of back and forth I found his lowest number.