Read on Twitter
Yesterday, I tweeted appreciation for an article about SaaS by @jaminball , saying it "taught me more about tech businesses than a year of business undergrad". His content is not alone in that category.
In 2020, I was a student of the Internet, and here's where I learned:
1/n
In 2020, I was a student of the Internet, and here's where I learned:
1/n
**Preface: The following are my main takeaways/opinions/insights from a mix of mostly blogs, newsletters, indiv. articles, and podcasts.
Remarkably, all of this was/is free to consume, a testament to the unlimited information opportunity we all share.
2/n
Remarkably, all of this was/is free to consume, a testament to the unlimited information opportunity we all share.
2/n
Frameworks:
Aggregators, Platforms, & Bundles by @benthompson
http://www.stratechery.com/concepts
Tech = a generational shift of value chain ownership from supply to demand. But, all is built on big tech's infrastructure. They "tax" the modern Internet, bc they built it.
3/n
Aggregators, Platforms, & Bundles by @benthompson
http://www.stratechery.com/concepts
Tech = a generational shift of value chain ownership from supply to demand. But, all is built on big tech's infrastructure. They "tax" the modern Internet, bc they built it.
3/n
Yet, new giants are/can forming, despite the tax. How, and what gives them the gall to compete upwards? What are the new Internet's models?
1. Create communities, from customer cohorts to marketplace matches to the classic, social networks.
https://a16z.com/2018/12/13/16-metrics-network-effects/
4/n
1. Create communities, from customer cohorts to marketplace matches to the classic, social networks.
https://a16z.com/2018/12/13/16-metrics-network-effects/
4/n
2. Build developer-focused platforms. Each developer product is like its own VC fund, where every B2B customer is an investment with inf. upside.
Drawn from @patrick_oshag 's @InvestLikeBest episodes with @jeffiel of Twilio and @collision of Stripe.
https://investorfieldguide.com/collison/
5/n
Drawn from @patrick_oshag 's @InvestLikeBest episodes with @jeffiel of Twilio and @collision of Stripe.
https://investorfieldguide.com/collison/
5/n
3. Curate. Search is how the Internet democratized (Google), and how it now differentiates (curation). Inception-ly, even this thread is my personal curation of the tech-related content I consumed this year.
Curation is the future. @stephendale
http://www.stephendale.com/2018/10/01/content-curation-the-future-of-relevance/
6/n
Curation is the future. @stephendale
http://www.stephendale.com/2018/10/01/content-curation-the-future-of-relevance/
6/n
^focuses on digital content curation. But, every physical item has a content component.
If curation is a digital investment thesis, isn't the extension its application towards physical goods using digital channels? That's @kmlake's StitchFix
6.5/n https://twitter.com/anujajoo/status/1336456548571373570?s=20
If curation is a digital investment thesis, isn't the extension its application towards physical goods using digital channels? That's @kmlake's StitchFix
6.5/n https://twitter.com/anujajoo/status/1336456548571373570?s=20
Another framework: loops @kevinakwok
I was og loop-averse bc everything seemed automatic, oversimplified, ignoring the huge costs/inputs to travel between each loop node.
But, I realized loops don't define execution - they depict compounding habits.
https://twitter.com/maxolson/status/1157836524181811200?s=20
7/n
I was og loop-averse bc everything seemed automatic, oversimplified, ignoring the huge costs/inputs to travel between each loop node.
But, I realized loops don't define execution - they depict compounding habits.
https://twitter.com/maxolson/status/1157836524181811200?s=20
7/n
In this context, where does capital fit in to activate or accelerate loops? @connor_leonard's take on the importance of ROIC and "re-investability" was eye opening. With zero-distribution/zero-marginal costs on the Internet, now digital = reinvestable.
http://sabercapitalmgt.com/importance-of-roic-reinvestment-vs-legacy-moats/
8/n
http://sabercapitalmgt.com/importance-of-roic-reinvestment-vs-legacy-moats/
8/n
Are these frameworks regressive, or are they formulas to build the next generation of tech? And now that we understand parts of them, what about their real-world results in big tech?
Enter privacy, platform, and the M-word: monopoly @matthewstoller.
https://mattstoller.substack.com/archive?sort=search&search=tech
9/n
Enter privacy, platform, and the M-word: monopoly @matthewstoller.
https://mattstoller.substack.com/archive?sort=search&search=tech
9/n
I haven't finished BIG yet (a history of [breaking up] monopoly and antitrust in the US). But it's one of the most interesting books I encountered this year, along with @peterthiel's Zero to One. The latter says "monopoly is the condition of every successful business"...
10/n
10/n
Why am I dedicated 4 tweets to monopoly in a thread about learning about tech? Because again, digital == zero-marginal cost == faster compounding == faster power laws == arrive at monopoly.
Building world-changing tech means building monopoly. But it can be virtuous.
11/n
Building world-changing tech means building monopoly. But it can be virtuous.
11/n
Beyond the excellent coverage by @benthompson again, @benedictevans brought it home with histories of product bundling from physical --> software. A bundled product is curation at work yet again: make people happier with less decisions to make.
12/n https://www.ben-evans.com/benedictevans/2020/12/21/google-bundling-and-kill-zones?utm_source=Benedict%27s+Newsletter&utm_campaign=db0a8600c6-Benedict%27s+newsletter_COPY_01&utm_medium=email&utm_term=0_4999ca107f-db0a8600c6-71090353
12/n https://www.ben-evans.com/benedictevans/2020/12/21/google-bundling-and-kill-zones?utm_source=Benedict%27s+Newsletter&utm_campaign=db0a8600c6-Benedict%27s+newsletter_COPY_01&utm_medium=email&utm_term=0_4999ca107f-db0a8600c6-71090353
These^ are the biggest individual ideas I wanted to share and highlight.
Below, I'm going to @ / link where I've found the most interesting stories/ideas/teachers in tech/investing/business are.
The order is not relevant (not ranking, just listing).
13/n
Below, I'm going to @ / link where I've found the most interesting stories/ideas/teachers in tech/investing/business are.
The order is not relevant (not ranking, just listing).
13/n
Podcasts:
* @patrick_oshag 's @InvestLikeBest
* @BessemerVP 's Cloud Giants
* @theallinpod
* @guyraz 's How I Built This
14/n
* @patrick_oshag 's @InvestLikeBest
* @BessemerVP 's Cloud Giants
* @theallinpod
* @guyraz 's How I Built This
14/n
Written Subscriptions:
* @CathieDWood and the @ARKInvest team
* @vedicakant 's Keeping Up with India
* @benedictevans Newsletter
* @stratechery
* @adam_keesling 's Napkin Math
* @mariodgabriele 's The Generalist
* @jaminball 's Clouded Judgement
* @DavidSacks Bottom's Up
15/n
* @CathieDWood and the @ARKInvest team
* @vedicakant 's Keeping Up with India
* @benedictevans Newsletter
* @stratechery
* @adam_keesling 's Napkin Math
* @mariodgabriele 's The Generalist
* @jaminball 's Clouded Judgement
* @DavidSacks Bottom's Up
15/n
cont. Written Subscriptions:
* @APompliano 's Pomp Letter
* @ByrneHobart's The Diff
* @nbashaw's Divinations
* @fredwilson's morning notes
* @can 's The Margins
16/n
* @APompliano 's Pomp Letter
* @ByrneHobart's The Diff
* @nbashaw's Divinations
* @fredwilson's morning notes
* @can 's The Margins
16/n
Thank you to all^ for teaching me a hell of a lot about technology, business, and storytelling.
Hopefully, these are helpful resources for others learning about the same things. As mentioned, I'm a junior at @UTAustin on the dream of also building/investing in tech. Cheers!
n/n
Hopefully, these are helpful resources for others learning about the same things. As mentioned, I'm a junior at @UTAustin on the dream of also building/investing in tech. Cheers!
n/n
