Joseph

they call them crisps there

@mttjon @maxkarpis @Revolut How do you think about the valuation? I have my own thoughts. Their ARPU and profitability is interesting. Also path of unlocking ARPU is interesting

@maxkarpis Would be a good acquisition but not sure the valuation would make it worthwhile for Revolut Convert all Venmo addresses to @revolut and gradually convert to full accounts

Revolut buying Venmo with it's 100M users in the US would be huge gear change for Revolut in US market. Can it afford it, and manage the development afterwards?

Man what do you do to low lives like this? Societal harm for barely any monetary upside. Have to slam the book at this. So upsetting when people just hate others like this

@tjparker @semil Makes you also think about the funds that are getting larger - do the continue to have this average or will it creep above 2/3

@semil Isn’t this relatively common knowledge? Generally need to have a couple fund returners per fund to get to ~3x net with a traditional strategy.

fascinating data from long-time tier 1 LP in many early-stage VC funds over many vintages: for this LP, in their VC fund vintages which produced a 3x net, those VC funds on average had 1.7 fund returning companies. (read that slowly)

@BranfordEquity Agreed on that but was talking about the rate change as income increases

@711_Joseph Big man Martin.

Statistically barely impacts anyone. Only impacts 10-20% of loan holders and that’s an over estimate

@BranfordEquity This was always part of the contract no? Also government has acted fairly by introducing caps to a floating rate contract

@711_Joseph A contract is made voluntarily. If a government can change a contract unilaterally, it’s not a contract is it?

@BranfordEquity A contract is a contract no

@711_Joseph Doesn’t make it morale 🙏

@WWIIThePacific @PRKF3TR @KKATCCards @MarkLevineNYC Indeed never drive because I’m local to the area

@WWIIThePacific @PRKF3TR @KKATCCards @MarkLevineNYC Happy to say I’m said pedestrians

Park Ave. got its name because a century ago it had a literal park in the median. Now, at last, the park is coming back (from E.46th to E.57th). With reduction of two lanes of traffic, there will be wider sidewalks, an urban forrest in the median, benches, space for cultural programming, potentially a bike lane etc. There are two final designs and you can vote on which you prefer. Take the survey here: surveymonkey.com/r/parkavenuevi…

@PRKF3TR @WWIIThePacific @KKATCCards @MarkLevineNYC Gridlock traffic is my reference - it flows and isn’t a hell scape

@WWIIThePacific @711_Joseph @KKATCCards @MarkLevineNYC He’s lying his ass off. Park avenue is just as congested as any other avenue. Has no buses or bike lanes , so it’s easy to traverse.

No brainer tbh

In 2014, Jakarta was crowned the most congested city in the world. Ten years later, it was only the 24th most congested - despite *adding* ten million new residents. How? Transit, of course.

Life is so easy when you put yourself out there.

@writtenoff_mufc @samcarney_ Sadly? Paramount couldn’t event get having audio and video in sync right today…

@samcarney_ You're right sadly!

Good to remember that this is the last season that TNT have the Champions league TV rights. What a mess they've made of it.

These guys can’t even get the sound and video to match on a champions league final. Looking forward to cancelling once the season is done

This game is making me sick already and it hasn’t started. Need this one

@KKATCCards @MarkLevineNYC When do these roads have traffic? Rarely in my experience - I work on 48th

@MarkLevineNYC So your solution to reducing traffic is by causing more traffic? Instead of having community meetings on what community wants…we have meetings on improving community QOL and not promoting more traffic hell with a few trees thrown it make it seems like it’s green

@Keisan_Crypto Ignores dilution so over estimates valuation of the stake

Bought a good amount of $ZM, half spot, half call options, various expiry, mostly far OTM leaps The thesis is pretty simple: - $ZM invested $51M in Anthropic in May 2023, now worth around $11B at Anthropic's secondary mkt valuation of $1T - $ZM market cap is $24B, making it the single best public market proxy for Anthropic (45%), yet still few people know this - $ZM has $7.8B of cash, so their effective enterprise value is: 24 - 7.8 - 11*.75 = ~$8B (Anthropic at 75% to account for gain on taxes) - They have 0 debt - $ZM makes about $800M/yr of post-tax operational FCF, inclusive of stock based comp - Top line has grown at about 4%/yr the last 3 years, with gross margins rising from 11.6% -> 23.1%. I expect profitability to continue to increase with AI, as they can lay off a lot of their engineering team - Further, over half of their expense load comes from stock-based compensation, most of these were COVID-era grants. I'd expect SBC to drop ~30-50% over the next few years, meaning bottom line could rise by up to $400M, meaning ~$1.2B of adjusted FCF - So, you are getting a stock that is trading at 10x in-place earnings (6.7x post-SBC adj.), with high margins and one of the more sticky SaaS business models (no individual company is going to recreate their own zoom, these are networked systems & have security implications) - If you assume Anthropic's valuation is $1.5T, which it likely hits quickly, the FCF multiple is all of a sudden a 4.75x, which is screamingly cheap - The IV, imo, does not currently reflect Anthropic's upside valuation, allowing you to effectively buy call options on Anthropic for standard mature SaaS company IV Seems mispriced 🤷‍♂️ Hyperliquid

@jesslivingston This was wonderful, thanks for hosting. Aspirational even

Today's Social Radars is an exciting one: Ron Conway talks publicly for the first time about the frantic, behind-the-scenes efforts that prevented the failure of Silicon Valley Bank from triggering a Depression-style financial panic. pod.link/1677066062/epi…