Napkin Math

Business breakdowns, by the numbers.

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Napkin Math

Want to Become a Unicorn? Buy it, Don’t Build it

How Amazon Marketplace works, how Thrasio built a unicorn, the platform risk associated with the strategy, and regulation concerns.

44 Jul 23, 2020 by Adam Keesling

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How Costco Convinces Brands to Cannibalize Themselves

An unlikely marriage where both sides win

125 Jul 15, 2020 by Adam Keesling

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The Future of Fitness: lululemon Buys Mirror

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.

36 Jul 8, 2020 by Adam Keesling

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Why MasterClass Isn’t Really About Mastery

And other lessons from a 9-figure edtech startup

88 Jul 1, 2020 by Adam Keesling

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Why Software is More Profitable Than Content

Written by... a content company

43 Jun 24, 2020 by Adam Keesling

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Explaining the Hertz Situation

A layman’s guide to bankruptcy

26 Jun 18, 2020 by Adam Keesling

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Crash: Pitch a Company, Get a Job

Candidates earn jobs by putting in more work than their competition

14 Jun 10, 2020 by Adam Keesling

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Curated: Expert Shopping Advice, Online

A three-sided marketplace to bring specialty retail to the internet

7 Jun 3, 2020 by Adam Keesling

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The Jet.com Obituary

The brand couldn’t compete against Amazon, but the acquihire was worth it for Walmart

10 May 29, 2020 by Adam Keesling