sari

One of the first popular posts I wrote on my old blog was called “Do property rights increase freedom? (Japan edition)”. In it, I challenged the notion that assigning property rights to everything is consistent with human liberty, and cited some examples of how Japan made people pay for a lot of stuff that was free in America.

"It’s difficult to overstate the magnitude of this market expansionary effect. For the first time in modern human history, people will have the choice of storing their wealth in state-free money as opposed to their local fiat currency. Weak governments will collapse, causing mass migrations away from fiat currency."

As everybody knows, Elon Musk wants to buy the company, and one of the ideas he’s pushing is to open-source the algorithm that decides how tweets are ranked in all of our timelines. Whether or not the sale goes through (seems unlikely), I actually think this is a great idea. In fact I would go further and argue Twitter should not only open-source t... See more

-Potential common mistakes for the Oversight Board:

5. Fundraise and financialsWhat milestone will the capital get you to?Why do you need to raise money? How much money do you really need? Why don’t you need less How much dilution will you give up? What is your pre-money target range?What will you use the capital you are raising for?What are your basic financial projections?

What I found is an underestimated market opportunity, where Spotify has a unique product advantage, the potential to improve every lever of unit economics and can build in a sustainable competitive advantage. Below is my investment case for going long Spotify, even +28% y-o-y.