Founder @ Lampa Capital
New York, NY
Joined June 2009
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What's interesting is this is the logical conclusion of how pharma execs thought about their business decades ago.
Eg in Trigeorgis' Real Options (1996): "Option analysis provides a more flexible approach to valuing our investments. To me all kinds of business decisions are options.” – Judy Lewent, CFO Merck
Back when I was active on Twitter (in ancient times), investors used to share their favorite recent reads.
Do we still do that?
A few I loved from this summer & would love to hear yours:
Brett Gardner’s Buffett’s Early Investments. Self-recommending, but didn’t realize just how much of an activist Buffett was in those early years. Makes one think smallcap investors should be a lot more hands on than current practice… amazon.com/Buffetts-Early-In…
And for fiction, would recommend Samantha Harvey’s Orbital. Short, gorgeous read.
amazon.com/Orbital-Samantha-…
Big fan of Eric & what @trytrata is building!
Trata (@trytrata) is now on FinTwit. We host anonymous buyside to buyside conversations via voice calls. We work with 125+ funds (vs. 10 in March) and receive 25-30 human-to-human calls weekly. We compile these conversations into a library of investment research.
EX: Fund 1 is bullish and Fund 2 is bearish on $OPEN, they ask each other questions they want answered surrounding the key debates for anywhere between 30-60 minutes.
The average fund on the platform: ~$200-400mm in AUM, 3 investment professionals, fundamental research focused. These funds use tools like Bloomberg and third-party expert networks, and have regular access to management teams.
To the qualified lurkers and anon accounts of FinTwit: Request a call on any ticker (bull or bear). If we pair you, we’ll give you:
1. Access to that transcript and any transcripts on that ticker published through the end of 2026
2. Airpods
Small life update!
Planning to start writing again in the new year. Happy Holiday season to all of you.
Luke Constable retweeted
People don't want to learn your API, so think of it as a ladder:
1. Maximize the problems experts can solve.
2. Minimize how much a novice needs to learn when they take their first step.
3. Make a smooth ladder between their first and last step.
blog.sbensu.com/posts/2022-0…
Fed's CBDC could also allow loan-level policy (instead of directly competing with commercial banks)
This could be direct industry targeting for credit creation
Eg climate-friendly bonds loans get a lower interest rate & a lower risk weighting
Fed's CBDC would compete directly with commercial banks.
Talk about a monumental shift.
Quick read if you're interested: federalreserve.gov/publicati…
Fed's CBDC would compete directly with commercial banks.
Talk about a monumental shift.
Quick read if you're interested: federalreserve.gov/publicati…
$HOOD Q&A could make earnings calls *much* more interesting.
If companies are compelled to answer these questions, we'll see a new generation of corporate gadflies.
The real kicker would be if $HOOD lets questioners remain anonymous
cc @sloaneortel
blog.robinhood.com/news/2022…
Next step: retail votes?
We could see real social pressure coming from "70% of the $ ownership voted yes, but 85% of the retail shareholders on $HOOD voted no"
Is there an app that records Zoom audio + video while minimizing + muting the app?
There are so many calls I can't join in real time but would love to listen to asynchronously
TIL Amazon has embedded DNS for physical mail. It’s called a “wedding registry.”
This lets you send gifts without knowing the end address.
They should let us send *anything* this way. Would make it much easier to send holiday cards & gifts to friends & family.
How is TikTok live shopping not an existential threat to $PINS?
It feels like QVC vs magazine ads.
For comparison, livestreaming ecommerce is already a $300b segment in China.
emarketer.com/content/evolut…
Addendum to a great thread on monetizing freemium SaaS users.
I've seen 2 major failure cases that would have saved me a lot of money if I'd known about them two years ago:
1. One-off low-tier account aggregation
2. Misaligned low-tier/high-tier sales forces
This quoted post is unavailable.
@joshtarasoff gave an excellent presentation 10 years ago on inflationary vs above-inflation pricing power.
Once inefficiently monetized products are fully priced, you won't see above-inflation pricing power.
Highly recommend a read: dropbox.com/s/q3rktm2mup8ury…