Sunday Finds from Chit Chat Money
Interview with Richard Chu, Opendoor, Peloton
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Content from Us:
Other Stuff:
Smart and Funny Tweets:
If you ever get a chance, take someone who grew up under communism through a Chick-Fil-A drive through
THE NEW TECH CULT: PELOTON
I hate cardio. But apparently there is enough people that pretend to & these cult bikes™️ (my new name for Pelotons) are FLYING off the shelves & the stock has gone 🚀 since IPO.
Here is a semi serious thread about why I think Peloton could be HUGE..
Thoughts I've shared with new investors:
1. View the stock market as a savings account that you keep adding to. Regularly invest money you don't foresee needing for at least 3 years, and ideally that you'll keep invested for much longer.
“They have all these warehouses and inventory they’re so proud of... I’m glad we don’t have to deal with any of that” - Meg Whitman
Unlike many investors who prefer “asset- light” businesses, we love “capital-intensive” businesses, as we believe the capital, time, and complexity of building out an asset-heavy business create ecosystem control.
modest proposal @modestproposal1
.@Square's been busy lately. I haven't had a chance to listen to their latest earnings call (maybe this weekend), but did see they did a Friday SEC filing (8K) to announce an update on their convertible notes offering.
Quick thread with what I find interesting follows. 1/
"Mother was a winemom.... And a girlboss. One night she turns on the news, drunker than usual. Ruth Bader Ginsburg died. She wanted to tweet my reaction as her 7 year old son, I told her I wanted to watch SpongeBob. Mommy didn't like that. Not. One. Bit."
People react even to small, well-meant alterations to their group rituals with outrage. psyarxiv.com/yd7tg/
Keep seeing comments to contrary, so gotta say it:
$MO has been a genius capital allocator. With 1yr of FCF, it bought big stakes in the only two things that could kill it: JUUL & weed. (So what if both went to “zero?” What business wouldn’t trade 1yr for lifetime assurance?)
My 3 month old son said: “Daddy, I don’t need a PS5. Use that money to buy land, or get an LLC started in my name” 😢
This is fascinating and I think why podcast discovery is so hard: the cost of a bad recommendation is high - 40+ minutes of wasted time and the opportunity cost of listening to something that could've been much more entertaining, informative, etc.
Eric Stromberg @ericstromberg