Philly Baker

@beisbolrulez @joefrl @walkoffstudios @tangotiger Stupid rule to just allow umpire to do whatever they want. What’s the point of rules?

@challahman @joefrl @walkoffstudios @tangotiger Sounds nice? It’s literally the rule. And it’s why the runner was sent back to 3B.

It's the third out at 1B... everyone gets to walk off the field. That the Phillies decided to keep playing doesn't mean the play remains live Replay review overturns the play at 1B, everyone is safe. Seems straightforward

@beisbolrulez @joefrl @walkoffstudios @tangotiger While this sounds nice it opens the gates for lots of arguing and ejections because it involves too much discretion essentially saying umpires can do whatever they want and still be within the rules even if it contradicts other rules.

Incorrect. The governing rule is 8.02(c): If the umpires consult after a play and change a call that had been made, then they have the authority to take all steps that they may deem necessary, in their discretion, to eliminate the results and consequences of the earlier call that they are reversing, including placing runners where they think those runners would have been after the play, had the ultimate call been made as the initial call

@SMB_Attorney Confused because many pursue things looking for happiness but those things more often cause suffering. So must learn the true causes of happiness.

@SMB_Attorney When one’s higher motivation is to succeed in business, then of course you will suffer when not working towards that if you could be. Be clear about motivations and how business fits in. Motivation for everyone is to be happy but most are confused about what causes happiness.

I’ve worked hard in my life. Since law school, I’ve had a perpetual feeling of guilt when I’m not working. Does anyone else experience this? It can’t be healthy. How do I get rid of it?

@TukiFromKL You can’t convince investors the system is rigged until after it crashes.

🚨 let me explain what Iran's Parliament Speaker just said because most people are going to miss it.. he told investors: "pre-market news is a reverse indicator.. if they pump it, short it.. if they dump it, go long.. see something tomorrow? you know the drill".. he's telling the world that America's market-moving headlines are manufactured.. that the news you wake up to tomorrow morning was designed to move your money in a specific direction.. and that he knows which direction because he knows what's coming.. think about what that actually means.. the Speaker of Iran's Parliament.. a country currently at war with the United States.. just went on the internet and told the entire world how to trade against American news cycles.. you think its because he's generous.. its because making retail investors distrust US markets IS the weapon.. you don't need to bomb Wall Street if you can convince the world it's already rigged.. and the most terrifying part of all of this..is that he's not wrong.

@alt_w_v_g You are overlooking lots of little content hooks they have. Like Grateful Dead radio was great until SXM started playing too much post-Garcia which I can’t stand to listen to recordings of.

Ran some diligence on SiriusXM this weekend Not because anyone asked Because my 14-year-old nephew connected his phone to my car via Bluetooth, played a Spotify playlist, and asked me what the "SXM" button was for I didn't have an answer So I pulled the 10-K SiriusXM is an $8.56B revenue company with nearly $10B in debt and a $7.4B market cap Read that again The debt is larger than the company Their business model, simplified: 1. Pay automakers to install radios nobody asked for 2. Give every new car buyer a free trial they didn't request 3. Hope they forget to cancel 4. Charge them $25.99/month for something their phone does for $10.99 That's it. That's the model. They have 33M subscribers. Sounds impressive until they lost 301,000 self-pay subscribers last year. And hundreds of thousands the year before that. Revenue has declined three consecutive years The average subscriber is 35-64, male, household income over $150K. Over half have been paying for 10+ years. These aren't loyal customers These are people whose spouses haven't noticed the $25.99 charge on the Amex yet The crown jewel of the portfolio is Howard Stern. They pay him roughly $100M a year. He works three days a week. His show averages 125K daily listeners. That's $800 per listener per year My analyst did the math three times because he thought he was wrong He wasn't For that price, you could buy each listener a Spotify family plan, an Audible subscription, and still have enough left for AirPods Speaking of Spotify. Nearly 290M premium subscribers. Growing double digits. $10.99/month. Available on every device ever made. SiriusXM. 33M subscribers. Shrinking. $25.99/month. Requires a satellite. Spotify's full-year revenue grew 19%. SiriusXM's declined 2%. Spotify trades at 74x earnings. SiriusXM trades at 5x. The market is not confused about which direction these businesses are headed Their growth strategy is called the "trial funnel." There are 7.3M people driving cars with free SiriusXM trials. The conversion rate is not publicly disclosed. Probably because it's embarrassing They have 180M "enabled vehicles" in the U.S. They have 33M subscribers. That's an 18% attach rate on hardware they already paid to install. 82% of the cars with their radios in them are generating zero revenue In any other industry an 18% hit rate gets you fired In satellite radio, it gets you a seat on the NYSE Adjusted EBITDA margin is 31%. Looks healthy. Until you realize "adjusted" is doing a LOT of heavy lifting in a company that posted a $2.08B net loss the year prior. Adjusted EBITDA was $2.73B that same year The distance between those two numbers is called addbacks And they're working overtime 2026 guidance: flat revenue, flat EBITDA, slightly fewer subscribers. The CEO called this stability and meaningful progress. On Wall Street, we call this managed decline Warren Buffett owns 35.4% of this company. This is the most confusing part. The man who said "be fearful when others are greedy" bought a satellite radio company in the age of Bluetooth. His entry was a Liberty Media arb play that accidentally became a long-term hold. The stock is down over 50% from its highs. I don't know why he's still in. You don't know why. His shareholders definitely don't know why. The bull thesis: SiriusXM has 33M people who have been paying $15/month for a decade and have no plans to stop. That's $6B in recurring revenue from people who may not even remember they're subscribed. Churn is 1.5%. Lower than most SaaS companies. The bear thesis: Every teenager alive today has never used a car radio Both are probably right SiriusXM's competitive moat is not content. It's not technology. It's not brand. It's the 47 minutes it takes to cancel over the phone SiriusXM isn't a bad company. It's a case study in what happens when your moat is consumer apathy and your growth strategy requires General Motors. Plz fix. Thx. Sent from my iPhone

@SMB_Attorney Ai infrastructure is not sustainable so those businesses that depend on Ai are taking on a big risk of collapse after that bubble bursts. Currently, the actual costs of Ai are being subsidized by investors and socialized energy infrastructure.

It’s becoming obvious that some businesses are going to grow at a rate never seen before. Some are going to fall way behind. Then, the walls are going to go up and the gap will be insurmountable. You know exactly what Im referring to.

@brianbeers Customers don’t expect it but must give free coffee to workers. They are much more productive.

No one has ever said, "I get my brakes done at XYZ shop because of their K-Cup flavors" So many owners waste money of dumb stuff (like coffee) This single machine costs me $3,000 per year x 36 locations = $100k+ per year Not anymore!

@phillysport Have a good season, get paid, $3m won’t matter.

The Phillies’ Alec Bohm sues his parents, alleging they mismanaged his finances #Echobox=1774558205" target="_blank" rel="nofollow noopener">inquirer.com/news/philadelp…

@ParisPhl Ensures no one will want to buy it.

What’s the point of this?

@JackPhillyRE Perfect for a bakery.

33 S. 16th St. at 16th & Ranstead in Center City is now available for sale/lease. This Mid-Century building was updated in 2019 by MM Partners and is now listed by Metro CRE after the Wawa that was here closed in December 2024. What would you want to see go in this space?

@Mr_Husky1 Hatadoo is helicopter. 🚁

Admit it: Your kid mispronounced a word three years ago and now the whole family says it that way. What's the word in your house? (We still say 'pasketti' and I’m not stopping anytime soon.)

@theficouple That like saying renting is better than owning. You have no asset when you leave a job but if you own the business you hopefully appreciate the asset as you hopefully get paid.

Unpopular opinion: The $110,000/yr salaried worker with a good 9–5 job is better off than the 70 hour per week business owner barely earning $65,000/yr. And it’s not even close.

@WeinsteinEdu Your entire day is down time. Try baking or running a business.

One of the hardest parts of being an educator is the lack of downtime. You have to be on all day long. This is mentally and physically draining.

@nick_kapur You don’t have to go to a university to “wrestle with human thought.” You just have to be a human with some ability to watch your own mind and Universities din’t teach that skill at all.

Powerful words from University of Pennsylvania students against their university's headlong rush to embrace of AI:

@RBPhillyTake Embiid didn’t have an agent. Represented himself.

Nobody had this kind of energy when it affected Joel Embiid though

@MikeGillShow Was Duran good in playoffs? I can’t remember.

The #Phillies won 96 games last year with Jordan Romano as their primary closer for about 4 months - they also lost Jose Alvarado on May 18th. They now have a full season of Johan Duran and Brad Keller + Alvarado back. How many extra wins do they get with Duran over Romano?

@MichaelRay937 @bowtiedmeathead Be careful. Risk of hip Avulsion fracture for 15yo. Common for that age as the hip muscles are super strong and can rip the bone off. My kid did this doing sprints with coaches pushing hard and missed an entire summer season. Dr said it’s common at that age.

@bowtiedmeathead Sprints and push ups are all you need at that age. Sprinting trumps all.

I had another baseball dad sitting in front of me the other day. We got into where our kids train etc. The shock when I said my 12 yr old lifts weights was amazing and disheartening. The fact that people still think this way is wild. A baseball dad saying 12 yr old kids shouldn’t lift weights… Make it make sense…. If anything, proper strength training prepares kids to handle those exact demands more safely, with better technique and less risk of injury. Same dad is going to be shocked when his kid doesn’t make the high school team because he is too weak.