They’re not waiting on a phone call from Paris

One strength of L’Oreal is a focus on cosmetics. Rather than a breadth of products like their competitor Unilever, L’Oreal has a tighter focus. That’s not all they do well according to Aoris Stephen Arnold: “Another part is how they have organized internally, the company works very hard to have a decentralized model. The people … Continue reading They’re not waiting on a phone call from Paris

The college admissions admission

We’re not really sure on the origin of Hanlon’s Razor, but the speculation (via Wikipedia) is Robert Heinlein’s (Heinlein ->Hanlon) story, Logic of Empire, “The character ‘Doc’ in Heinlein’s story described the ‘devil theory’ fallacy, explaining, ‘You have attributed conditions to villainy that simply result from stupidity.’” I’d remember it more and confuse it less … Continue reading The college admissions admission

Average Lies

“Often an average is such an oversimplification that it is worse than useless.” – Darrell Huff, How to Lie with Statistics. We don’t really think about averages. The average hospital costs for hepatitis A was $16,000 in 2017. The average student loan debt for North Carolina residents is $36,000. The average American says they’ll spend … Continue reading Average Lies

Daniel Ek

Supported by Greenhaven Road Capital, finding value off the beaten path. Daniel Ek spoke with Patrick O’Shaughnessy about Spotify. It was fantastic. Music streaming seems like a difficult business because of the supplier power, competition, legacy agents, defaults, bundles, and varied stakeholders but Ek and his teams seem well prepared. Let’s see how. The theme … Continue reading Daniel Ek

Bill Gurley

Supported by Greenhaven Road Capital, finding value off the beaten path. The podcast with Bill Gurley and Patrick O’Shaughnessy about direct listings and initial public offerings was financially, technologically and psychologically interesting. I don’t know if Gurley’s emphasis is appropriate, but it’s clear what he needs to do, reframe the situation. Gurley and O’Shaughnessy expect that … Continue reading Bill Gurley

Jeff Jordan

Supported by Greenhaven Road Capital, finding value off the beaten path. Jeff Jordan’s career includes stints at eBay, The Walt Disney Store, Reel.com, and Paypal and as a GP at a16z, his current role. Listen to this post: iTunes, Overcast, or Soundcloud Successful businesses, a friend told me, either sell the same things to new … Continue reading Jeff Jordan

Streaming, Sharing, Stealing

Supported by Greenhaven Road Capital, finding value off the beaten path. Michael Smith and Rahul Telang of Carnegie Melon University wrote an interesting book, Streaming, Sharing, Stealing: Big Data and the Future of Entertainment. Smith and Telang wrote this book because of a “perfect storm” in the economic entertainment ecosystem. Traditionally a few firms dominated … Continue reading Streaming, Sharing, Stealing