WeWork parody; Adam Driver; Selling to Spotify; A fall cocktail; Elon Musk's troll job; A new way to exercise.
👋Hello friends. Here’s to a great weekend.
📚WHAT WE READ
Matt Levine parodies Adam Nueman’s first encounter with Masayoshi Son:
Son: What does your company do?
Neumann: We lease office buildings, spruce up the space and sublet it in small chunks.
Son: Hmm I invest in visionary tech stuff, this doesn’t really sound like my thing.
Neumann: Did I mention we are a state of consciousness. A generation of interconnected emotionally intelligent entrepreneurs.
Son: Okay yeah that’s more like—
Son: You’re crazy! I love it! But could you be, say, ten times crazier?
Neumann: You’re going to invest $10 billion in my company, which I will use as kindling to light the whole edifice on fire, and then when we are both standing in the ashes you will pay me another billion dollars to walk away while I laugh at you.
Son: All my life I have dreamed of meeting someone as crazy as you, but I never really believed this day would come.
Neumann: I’m gonna use your money to buy a mansion with a room shaped like a guitar, where I will play the world’s tiniest violin after all your money is gone.
Son: YES PUNCH ME IN THE FACE.
Neumann: Also I’ll rename the company “We” and charge it $6 million for the name.
Son: RUN ME OVER WITH A TRUCK.
Adam Driver, The Original Man (The New Yorker)
Probably best known for playing Kylo Ren in the last two installments of Star Wars (the third coming out this December). But his acting chops run deeper as he is expected to be a shoo-in for a best actor nod at this year’s Oscars for his role in Marriage Story👇
Also, one of my favorite SNL skits😂😂😂
How Former Hollywood Mogul Barry Diller Built A $4.2 Billion Tech Fortune Out Of Underdog Assets (Forbes)
From the article:
In a former life, he was one of the most powerful hired hands in Hollywood, heading Gulf & Western’s movie studio, Paramount Pictures, from 1974 to 1984 before leaving to build Rupert Murdoch’s Fox Broadcasting into the fourth national network.
His string of blockbusters include Saturday Night Fever, Grease and Raiders of the Lost Ark at Paramount and The Simpsons at Fox. But in the 1990s Diller pivoted hard after a sojourn selling zirconium baubles on QVC convinced him that the future lay in the convergence of entertainment, commerce and the internet.
Act Two (or Three or Four—who’s counting?) for Diller has been IAC/InterActiveCorp, an online conglomerate that has grown to a value of $20 billion after a tenfold surge in its stock over the past decade, yielding Diller a $4.2 billion fortune, good for No. 168 on The Forbes 400 list of richest Americans.
📚Read Barry’s profile. (HE’S A FASCINATING CHARACTER)
🎙WHAT WE LISTENED TO
StartUp, the final season (Gimlet Media)
One the first podcast I listened to after Serial season one.
In three episodes, they document their sale to Spotify ($SPOT).
To see how far they’ve come, I recommend listening to the first episode when Alex pitches angel investor Chris Sacca on the idea that would eventually become Gimlet Media.
How to spot trends before they are obvious… (Noah Kagen Presents)
You subscribe to Glimpse.
Noah Kagen interviews Noah Fram-Schwartz, co-founder of Glimpse.
What they do:
Glimpse analyzes hundreds of millions of consumer behavior signals from across the web to surface the fastest growing trends that are under the radar; including products, companies, and industries.
How you can use their data:
Lanch products before they go viral.
Source under-the-radar investments.
Understand the marketing tactics of today’s viral trends.
After listening to this episode, I immediately got the itch to start a Shopify ($SHOP) store.
By the way, if you do want to start a Shopify store, I’m re-recommending this Twitter thread from last week.
How stories and psychology shape our economic lives (Hidden Brain)
Boy does this seem timely…
In this episode: Economist Robert Schiller talks about the role stories play in our economic lives — not just the purchases we make as individuals, but the fate of entire economic systems.
Want more Bob?
Barry Ritholz of Bloomberg also interviews the professor.
📺WHAT WE WATCHED
Why Costco ($CSTO) is cheaper than Amazon ($AMZN)
One of my favorite follows on YouTube. He goes by the handle, PolyMatter.
Tis the season for fall cocktails🍂
My first exposure to the Oracle of Omaha
One of the first videos I ever watched of Warren Buffett back in 2007. The quality is lacking but the info is great.
I think there are seven parts to this talk. Parts two through seven should pop-up under recommended videos. If not, just search — “Warren Buffett, Florida.”
🔥TWEETS OF THE WEEK
Ohhh…Snap😮 What a troll job by Elon Musk
He wrote this letter to hedge fund manager David Einhorn; who came to fame during the financial crisis and is a vocal short-seller of Tesla ($TSLA).
#9 is tough for me. I’m drawn to things that are familiar.
Useful hack: At least once a week, I force myself to read or listen to something that is out of my comfort zone.
Great thread. (HIGHLY RECOMMENDED)
🔮PRODUCTS TO WATCH
Interesting products from emerging companies.
Move over Peloton ($PTON), and say hello to Mirror
A review by Wirecutter👆
Curated: A personalized shopping experience
Curated helps you find just what you’re looking for by pairing you with experts in their chosen field.
📊THE WEEK’S BEST CHARTS
ISM manufacturing index falls to the lowest level since June 2009
The ISM manufacturing index — a.k.a the purchasing manager’s index (PMI) — is considered a leading indicator for the U.S. economy. They compile the index by surveying purchasing managers at more than 300 manufacturing firms.
The big picture. Per Axios:
Manufacturing is a small portion of the U.S. economy but is considered a leading indicator.
The services sector, which makes up close to 70% of the economy, has been closely following manufacturing. If it falls into contraction that could mean real trouble.
A list I will never make😔
Just not great🤬
💥LATEST MEMBER UPDATES
🤡GIPHY TO GO
Joker is set to book almost $500 million in profits; A record for an R rated movie.
Which is almost as much as Avengers Infinity War. But Joker was $260 million cheaper to make. Bravo to our favorite clown👏👏👏
Thanks for reading, and have a great weekend!