John Dorrian

I’m so impressed by @GabeStengel and the team he’s built, and excited to invest in Rogo again alongside a world-class group of investors. If you are in finance, you need to check out what they are building.

The future of applied finance is AI driven by Rogo.

We’re excited to announce our $75 million Series C led by @sequoia, with participation from @jpmorgan, @WellsFargo, @ThriveCapital, @khoslaventures,@BoxGroup, Mantis VC, Positive Sum, Stonecroft Management & @_altcapital to build AI that makes the best financial professionals smarter, faster, and more ambitious. There’s a long road ahead and we’re grateful to our clients, team, and investors for their partnership as we set out to transform finance. rogo.ai/series-c

@EnthusiAdams I’ll take @DanielOchefu32 any day of the week for a decision maker. Dude knows where to mop up so the buzzer beater can fall. @RyArch15 @Smoove2you_

@brianbeers 400-500 locations. Would be curious on your perspective

@jdorrian Never heard of it

Did you know 50% of franchises are less than $350k? People mistakenly only think of McDonalds, Dunkin, & other high-cost retail brands thanks to "Top 10" lists My Top 10 list of great franchises under $250k:

@brianbeers Thoughts on Fyzical @brianbeers ?

This is just a start. There's also: - Popsicles - Senior Care - Pest Control - Junk Removal - House Cleaning - Dumpster Rentals - Doggy Poop Pickup - Mobile Pet Grooming - Windows & Insulation - Pavement Maintenance - Lawn Care & Mosquitoes

@thesamparr I live in the area. Killer coastal and woodsy/bucolic spots in Greenwich Stamford Darien New Canaan Norwalk & westport. Get too much further north/east of westport and the commute time to the city gets to be a little much

Spent the day in Westport, CT. Shockingly amazing. 50 miles outside NYC but felt like a beach town. Not considering moving at the moment, but anyone live there? What is your experience? How’s it compare to Greenwich, CT?

@noahgenda928 @80sSportsNStuff I had this TPX. Loved it. In fact, still have it. Untouched and unused in 2 decades.

@80sSportsNStuff Nope, this one was better….

The two best bats ever made…

@80sSportsNStuff @JoeyJ33 @keithjanosky

@andruyeung Details…

🌇 I'm throwing a rooftop tech mixer on June 6 in NYC. It's at a rooftop with stunning views of Manhattan! Join hundreds of other founders, operators, and investors for an evening of skyline views, conversation & connection. 👉 Comment (& follow me) so I can DM you details

@MugnoaAl @MugnoaAl love the accolade! The sincerest congratulations. flash back to 96. Who may have this team been? Frei Garrison McCormack Kousaka & Barkauskas? @JoeyJ33 @keithjanosky

Northern Highlands comes in 2nd at the NJ Finals STEM League competition. The team of Anderson, Lavinio, Rota, Chen, Sanchez, Kumar did an excellent job in their overall performances in CAD, Engineering Buoyancy calculations and analysis, Prototype, and Presentation.

CEOs selling to enterprises: don’t let the PLG / PLS motion blind you to the importance of relationships in enterprise sales. These relationships are nurtured over time through meals, gifts, sporting events, etc. Don’t skimp on $1000 to close $5m deals. Too many CEOs who’ve grown up in the age of PLG, seem to think of enterprise selling as purely transactional and rational. Don’t make this mistake. Have your EA or CoS figure out a schedule of getting Warriors / Knicks / Lakers tickets for your enterprise partners and prospects, taking them to nice dinners, sending them (nice) holiday gifts, etc. Don’t leave it to chance. Build the machine.

@Super70sSports @keithjanosky @JoeyJ33

Minor league Wade Boggs looked like that one cool dude who used to work at your local liquor store and never carded anyone.

@bigeastrewind Rivers was a legit G for ND. I’d say he is top 3 collegiate career on that 5x5 matrix

1984 McDonalds All-America Team

@richfalkwallace I’d love to review this

An entire MBA fits on one page. But you better know the math cold. Like & comment if you want the excel. 6 topics: *1) Unit economics* This builds from product-level unit economics to company financials. Quantity per unit, growth in units. Price per unit, growth in pricing. Cost per unit, marketing spend per unit. Get you return on ad spend (ROAS), customer acquisition cost (CAC), LTV/CAC, gross margins, unit contribution margins, and more. This model sets up two diverging products: A higher gross margin (GM), higher marking cost, low pricing power, low growth product. Against a lower GM, better pricing power, better growing, lower unit market cost product. To show how the dynamics of the two play out over time. *2) Accounting* Unit drivers flow into revenue, variable COGS, and variable SG&A. Then to EBITDA, EBIT, EBT, Net income & EPS. Simple cash flow statements & balance sheets reconcile D&A to inflation-adjusted replacement CapEx, debt levels, & GAAP PP&E. You have to be fluent in accounting to look at public companies. Not because accounting itself matters. But because accounting can obscure what matters. And your task it to translate GAAP into meaningful business logic. *3) Operating ratios* Unit drivers output financials, financials output overall business ratios. Revenue growth, EBITDA growth, EBITDA margins. Contribution margins (= change in profit over change in revenue). Net debt-to-EBITDA, net debt % of EV. *4) Valuation* You can drive valuation on multiples or a DCF. Which are equivalent: The discount rate minus the growth rate determines the 'terminal multiple.' Using a P/E instead of a DCF simply uses next year as the terminal value. This model drives value from the DCF, and maps that to the multiples to show how they connect. *5) Corporate finance & DCFs* DCF math attached using the CAPM. The summary is a beta from historical returns, add the cost of debt. To get the WACC - the theoretically correct discount rate. DCFs are extremely assumption laden - you can get out almost whatever you want. But realistically. Your banker (or analyst) will make the math work out to a 7-13% discount rate. Depending on the risks, industry, markets - and what they want to achieve. *6) Sensitivities & the hard part* The last section sensitizes the equity value and multiples to unit and price growth. Bringing unit drivers full circle to valuation outcomes. Ultimately, the hard part isn't the math. You have to be fluent in the math, its nuances and its limitations. If not, you will lose out to those who are. But once you are, you also have to shift focus. To the hard part. Which is always in filling in the numbers. If you're investing, that means thoughtful views on unit drivers; on how, when, and why they shift. And if you're building, it means making the numbers on the page happen. That's all for now. Like & comment if you want the excel.

A message from our CEO

@TheRealMcHoy Denver’s seafood can match up to nearly any coastal American town. True story

Denver is land locked.

The rise of product-led sales, or why product-led growth requires a sales makeover tcrn.ch/401nckI ... hey! I know that guy. It's @tolson!

@BarstoolNova Almost executed an nice 2 man game with Whitmore & Dixon. Maybe it was wi 5-6mins left in 1H. A glimmer of material impactful progress

Up 4 at half. What are we thinking?

@ARayfor3 That last 90 seconds was garbage.

Talk to me..