Substack can't decide if it's a CMS or a media brand. Neither could Medium. Their indecision will likely lead to similar outcomes.
And other lessons from a 9-figure edtech startup
An unlikely marriage where both sides win
A look inside the S-1 of Wish. Included is the background of Wish, a look at their margins, how the universal postal union is changing their cost structure, how their CAC is rising and if they are viable long-term.
The largest IPO in history is happening in China with Ant Financial. In this post, we discuss all the services Ant Financial provides and what to expect in the future from Ant.
A three-sided marketplace to bring specialty retail to the internet
The difference between a contractor and an employee, what Uber's existing business looks like and how AB5 will impact their financials.
Why and how I ran a search fund
Chegg grew their stock price from under $10 to over $85. They did it by changing their business model from the ground up and investing in digital media content.
A history of stock market exchanges: from fragmentation to monopoly, monopoly to fragmentation and back again.
The original cloud kitchen, ten years before it was cool
Nike just released their latest earnings report. We dive into their "Consumer Direct Offense" strategy, how they combined their brand marketing with technology.
What is the Cash Conversion Cycle and why is it useful? In this post, we discuss the Cash Conversion Cycle formula, an example calculation, and a comparison of public retailer IPOs.
The history of cloud computing, how DevOps and Observability became so big, and the fate of Datadog
Written by... a content company
Many schools have closed, representing a unique opportunity to buy school bus operators. With a strong moat, now might be the right time to buy.
What drivers think of AB 5, why it was written, and the pricing differences between services
And what it means for your job
Book review of The End of Accounting: there are four problems with current financial statements and intangible assets are the biggest reason why.
How Amazon Marketplace works, how Thrasio built a unicorn, the platform risk associated with the strategy, and regulation concerns.
After a short break, Napkin Math returns with a new writer
It's getting kind of scary out there
Why subscription hardware is better than hardware, the cross-selling opportunity, how Mirror could lead to a connected home, and why Mirror is a call option for Lululemon.
A review of the Q2 earnings: growth in digital subscriptions, a fall in advertising, and a decline in APRU due to long-term investing.
