How could you say something so brave yet so true
223 karma · joined March 23, 2012
- existing models are profitable if cutoff future training and focused on inference
- debt is senior to equity
- if my life depended on one company not going bankrupt over the next decade I’d pick OAI over Citibank
- banks use revolving credit as a break even or loss leader for higher fee business
- high fixed cost businesses use debt and equity to scale
- lead investors would very rarely pay down the debt of an investment, that’s not the backstop
- unlikely for revolving credit, but a convertible structure could mitigate any perceived asymmetric downside
1) much cheaper due to none of the tax and fee apparatus local govts attach to hotel stays
2) the ability to “stay like a local” in neighborhoods where residents live instead of hotel neighborhoods like Times Square , fisherman’s wharf, soma etc
1 is completely gone and has maybe gotten worse than hotels. 2 still holds to an extent but you mostly find professional spaces
For the founder, have you thought about doing away with the 1$ for friction reduction while you scale given how tough the switching decision can be?
For the founder, have you considered using ACAT in incentives as a differentiated acquisition tool?
For the founder, are their “moments” people often switch their brokerage you could target aggressively? Ie I imagine Johnny software, 28 , is a hard sell to sit down and port their holding over from fidelity to save a couple of BPS, but maybe people starting their first job? Setting up a retirement plan? What’s your target “moment”?
Open APIs > short form mobile video > creator owned long form text?