Identity as Infrastructure.
Identity is no longer a feature of advertising, it’s infrastructure. Roads enable commerce and electricity powers cities, identity makes modern marketing actually work.
@BoringBiz_ “Feels like we’re barely getting by” is powerful. Feeling like you’re living paycheck to paycheck while maxing out 401Ks is how 32 y/o become VERY wealthy over time no matter what the household income is. Tricking yourself into thinking you’re barely getting by is a giant unlock.
@tkawaja Agree with the frame and the outcome is spot on. Don’t love the idea that the truth is positioned as unkind though. Tough for the recipient to hear and often tough for the sender to deliver but it has always felt to me like the only way to is through.
@AdtechGod Yeah, AdTech is very good about talking about the next thing. Conversely, there are at least a few who have real products in the market. The @cvanderhook and @TimVHook launch was impressive and has always felt real.
Warren Buffett: “A batting average that does not include the cost of capital is a phony batting average.”
“We believe in managers knowing that money costs money. Generally, my experience in business is that most managers, when using their own money, understand that money costs money…but sometimes managers, when using other people's money, start thinking of it like free money. And that's a habit we don't want to encourage around Berkshire.”
So @jack wants ~6,000 employees reporting directly to him in the new version of the company.
Layers between CEO and any employee in the company: ~5 today → 2-3 this year → basically zero
@BoringBiz_ Math vs. Psychology. 32 and invests $400K/yr for 5 more years then he ends up with $61MM at 65. Assumes 9% annual return + doesn’t contemplate inflation but most would agree this is plenty. If he’s looking for “respect” from external sources then he’ll NEVER have “enough.”