Devin

I took my first CFO client in November 2021. They had terrible books, no financial insight, and couldn't raise a dollar. Within a few weeks they had clean books, a clear financial plan, and an oversubscribed fundraising round. Here's a step-by-step walkthrough of what I did:

@elonmusk Growth in real GDP is a lot easier when you just make the numbers up (China) economist.com/graphic-detail…

The balance of power is changing

The 2nd best thing about NVIDIA’s earnings releases (1st being carrying the market on its back) is finance accounts with tons of followers show you how little they understand accounting….

@cfo_mm @bottombucketaf “Draft - for discussion purposely only” aka if I fat fingered a formula and this is all wrong oh well!

@bottombucketaf They never mark them final. It’s insane.

Nothing a QofE provider loves more than calling their materials DRAFT

@DDuggan21 He literally said the cowboys should clock it after a quick pass on 3rd and 10 with no timeouts… going to be hard to attempt a field goal with a turnover on downs

Greg Olsen is the best in the biz. Best aspect is his handle on the rules. Nothing worse than when analysts sound like fans watching on their couch trying to figure out what's going on. He knows instantly what flags are for, what can be challenged, etc.

@deansloves_ @JamesonCamp Yessir

@JamesonCamp @devin_j_obrien maybe know anyone?

@_willcompton Richie incognito after kicking down the door of the Nebraska frat house

What an ass beating on the golf course There’s simply no way you can come back from this

@OnlyCFO Gross margin month over month probably looks like this

My friend owns a construction business and asked me to help look at his financials SaaS is so easy in comparison… Pretty sure we just make up a bunch of metrics and acronyms to make it seem hard

@patrickdichter I was saying on a call yesterday that entrepreneurs have a completely different view of the accounting function in their next venture once they have experienced buy side due diligence where the QofE impacted one or all of deal timing, purchase price, and blood pressure!

“Can you clean up our last 2 years of financials and do our taxes so we can sell our business? We’re trying to sell but the broker and banker said our accounting is too messy.” Yes. We have 3 of these projects currently. I’m sure they’ve lost lots of time, lost good buyers, and might sell for less now. Good accounting pays for itself.

@tryramp While I have you... Brainstorming a finance newsletter launch What topics would you want to read about?

Idea -> June of 2022 Launch -> March of 2023 Times Square Billboard -> April of 2025 And a lot of trials and tribulations in-between, but grateful for an amazing team, clients, and partners (like the best expense platform ever @tryramp 🤝)

@unusual_whales Now this NBC poll makes so much more sense. Tariffs and the $2 trillion saved from DOGE that’s now less than not even going to eclipse $100bn. Selling beachfront property in Alaska

TRUMP: "There's a chance that the money from the tariffs will be so great that it would replace [income taxes]."

@blim004 You are right. This must be why Sacks is so anti Ukraine because he’s grateful that chamath already solved rare earths for the US. 😩😩 grateful 4 u chamath and for clover health and solana and virgin galactic!

@devin_j_obrien @drewfallon12 Ur ears must be allergic to greatness. Chamath solved China’s rare earth ransom. FB virality Covid/spac investing Morality Happy Marriage Gaslighting

all in podcast has gotten 3% less listenable every week this year

@EntangledHorses @drewfallon12 with the mansplaining from 1. early FB employee turned SPAC shitco pump and dumper who touted being able to call the administration and they listen 2. early FB employee now VC who's in the administration Definitely even playing field in economics and not biased at all!

@devin_j_obrien @drewfallon12 Mansplaining to a guy that was in the highest public sector position in the field of securities.

@xxxYEET Incredible line

@devin_j_obrien @drewfallon12 this line had me cackling

Not trying to cherry pick, just my view. To your point, there's a million factors that impact markets and only us as humans try to rationalize it into 1 or 2 reasons. I couldn't care less if it was Larry Summers or some other economist's points. My opinion / view is when you're looking at the people having the conversation and their backgrounds, you have an early FB and Paypal employee, 1 turned into a SPAC retail pusher and 1 a VC who are either in the administration or spoke how they can call and influence the administration are clearly more bias and less sophisticated re: markets than someone who spent their entire life in economics. That's nothing but my opinion and prefer Howard Marks investor memo's over Larry Summers or anybody else.

Real cute how you cherry pick … if I recall there was also another moment more recently 2021-2022? When stocks and USTs went down… utilities were acting as bonds .. key point not the first time we haven’t seen the usual flight to safety… also the current timeframe is very acute .. why not mention or at least caveat it a bit and say some of the excess leverage and basis trades that are also impacting the movement … seem like a Larry summers paid bot

The facts are that when there’s been high volatility in the US equities markets, US treasuries (TLT as an example during covid in 2020) traded at almost a 50% higher price than today. Investors pivoted to US treasuries as a “risk free” asset during volatile equity markets. Treasury yields have spiked during this uncertain / volatile equity environment with bond prices tanking. Clearly US treasuries don’t have the same “risk free” asset allocation view as determined by the market, with treasury and equities moving down together. Similar to what you see in emerging markets. That was my point

@devin_j_obrien @MarginalContrib “I felt” feelings don’t care about facts 🤡

@SYSTEP A good friend said he wanted me to listen so we could discuss. I don’t follow the show because it became insufferable awhile ago

@devin_j_obrien @drewfallon12 Don’t bother next time

@MarginalContrib He can be. But when I listened to the actual points made, I felt none of them came close to Larry’s point on the US trading like an emerging market.

@devin_j_obrien @drewfallon12 So Larry summers can’t be wrong?

@thekrushi9 @drewfallon12 Couldn’t agree more

@devin_j_obrien @drewfallon12 Lmao same I thought Larry made good analogy on differences in the market between US and emerging markets or developing countries. The Pod is loosing it’s trust mainly I think because of Chamath and David