Keywon

An amazing story of the Mingkwai typewriter, designed to input over 8,000 Chinese characters... youtube.com/watch?v=-IhuFg…

Ghost in the Shell’s tera‑keyboard broken down: • 30 cybernetic finger‑lets, 24 positions per second • 9‑key chords → ≈2.7 trillion combos • Likely a brain‑computer interface, not manual typing scifiinterfaces.com/2013/07/24/the…

Whooo’s Loading? 🦉 A funny load concept for a mobile app. Made with @rive_app

"Find My Sketchers" theverge.com/news/716076/fi…

This is my unfiltered, raw reaction as I watched the YouTube trailer youtube.com/watch?v=TX9qSa… without any prior knowledge about the product. All in all, Vision Pro looks amazing -- kudos to the Apple teams!

11. This video is super long -- it often means the creators haven’t exactly figured out the value proposition of their product. (9:09)

My unfiltered reaction to the Apple Vision Pro trailer, as a former HCI researcher and current GTM/Marketing lead (1/11): 1. I love how the look of the person footage matches the sharp look of the device rendering as they come together. Great videography. (00:13)

@richfalkwallace @richfalkwallace Thanks for sharing this. I would like the Excel file too—it would be fun to study it.

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.

No-bra-wear for teenagers, by prev client Ilgiso 😍

We wanted to know what it takes to achieve Product-Market Fit. So we collected traction timelines of 30+ startups. After analyzing them, a clear pattern emerged: A distinctive 3-step process. We're now creating a DB of the strategies used in each step. Stay tuned 📣

@marksbirch @readwiseio save