Michael Jue

[Michael Jue @michaeljue]

"The cowards never started and the weak died along the way - that leaves us."

[Asset Scholar @AssetScholar]

The Foster is actually a unique property. It's the first property listed on @ArrivedHomes that was sourced from @doorvestco.

It seems like a vote of confidence for Doorvest's property selection. Also a potentially interesting partnership if DV can lower sourcing costs for them.

[archie 🦋 @archieemwood]

When I was a Chief of Staff, one meeting generated more stress than *all the others* in the week.

What was it?

Our Tuesday AM 📊Weekly Business Review📊

(1/x)

[The Proptech Podcast @TechNestPodcast]

★ Just published a new episode of Tech Nest: The Proptech Podcast: Full-Service, Passive Real Estate Investing Platform with Andrew Luong, CEO of Doorvest. Listen: https://t.co/AK5GBt45qo

[Michael Jue @michaeljue]

Love this thread.

One of my favorite quotes “If you don’t find a way to make money while you sleep, you will work until you die.”

And a new one, “Passive income is false advertising”

[Nik @nikhil17]

Why did @andrewluong_ start Doorvest?

@doorvestco is a platform that has raised a total of $92.5M to help people easily buy income-generating homes entirely online

Here’s his story 👇

[Michael Jue @michaeljue]

Never use "utilize" when you can utilize "use."

[Lulu Cheng Meservey @lulumeservey]

Never use “utilize” when you can use “use”

[Michael Jue @michaeljue]

This has everything. Fresh steaks, a Tik Tok reference and GrillMasters.

[Joe Weisenthal @TheStalwart]

Love seeing some classic BI content https://t.co/1pIrwYzDUE

[Assembly HOA @AssemblyHOA]

We're excited to welcome Andrew Luong to Assembly's Advisory Board! Andrew is the co-founder and CEO of Doorvest, a company that's dedicated to helping busy working people own and invest in passive income rental homes.

Welcome Andrew to our advisory board!!

[Michael Jue @michaeljue]

Vertically integrated hot dog value.

[Trung Phan @TrungTPhan]

The Costco hot dog combo is a legendary meme.

But how does it still only cost $1.50? Introduced in 1985, the price of that combo should be ~$4.20 if adjusted for inflation.

Thankfully, the $216B warehouse retailer has done everything in its power to keep the price down.

And Costco sells A LOT of them: 130m+ hot dogs a year (more than all MLB teams combined).

Many believe the $1.50 combo is a “loss-leader” for Costco, but this is incorrect.

In a 2009 interview, Costco co-founder and former CEO Jim Sinegal told the Seattle Times that Costco doesn’t “engage in loss leaders” and “the only time we sell below cost is when we’ve made a mistake and have to mark it down”.

However, the retailer does cap its margin at 14% and drives many products to near break-even.

Here’s how Costco has managed to keep the cost of the inconic hot dog combo at $1.50:

1️⃣It dropped leading hot dog suppliers like Hebrew National and Nathan’s because they wouldn’t lower prices

2️⃣In 2009, Costco built its own hot dog manufacturing plant in LA (and has a second one in Chicago)

3️⃣ It got better pricing on buns, ketchup and mustard

4️⃣ It removed onions and sauerkrauts as free condiments

5️⃣ It dropped Polish sausages

6️⃣ The pop that came with the combo was swapped from a can to refillable fountain soda

Costco’s effort to keep hot dog prices low is also the source material for the greatest quote in business history.

In 2018, the current Costco CEO Craig Jelinek was recounting a conversation he had with Sinegal, who he just replaced as CEO.

Jelinek told Sinegal he wanted to raise the price of the $1.50 hot dog and pop combo.

Sinegal shot back, “If you raise the [price of the] f**ing hot dog, I will kill you. Figure it out.”

Costco has figured it out and, in September 2022, the company’s CFO Richard Galanti confirmed that the hot dog combo would remain at $1.50 despite rising inflation.

“There are some businesses that are doing well with margin like gas business on a smaller way -- in the travel business,” said Galanti. “Those things help us be more aggressive in other areas, or as you mentioned, hold the price on the hot dog and the soda a little longer, forever.”

Forever sounds about right.

[Andrew Luong @andrewluong_]

Love the Wefunder experience & are about to close our 2nd round! https://t.co/MHIbvfnG0P

[AlchemistAccelerator @AlchemistAcc]

@AlchemistAcc applications close soon!

Early-stage B2B & B2B2C startups w/ distinctive technical teams: join our global accelerator for support from the highest caliber mentors & network. Apply now for our 6-month program starting in April! #accelerator #fundraising #startups

[Carbon Health @CarbonHealth]

Delivering great care doesn’t end with your doctor's visit. Today we are acquiring @AlertiveHCare to accelerate our investment in home-based care tools and connected devices— so you and your doctor can manage your health from anywhere. https://t.co/weVgsitagv

[Adaptation Health @AH_Innovation]

Along with @chcfinnovations and @Acumen we are excited to announce the finalist for the RPM Innovation Challenge:

➡️ @lucidact
➡️ @Jointherimidi
➡️ @CareSignal_
➡️ @Certintell
➡️ @AlertiveHCare
➡️ @memorahealth

Join us on Nov. 18. RSVP now https://t.co/mfNdAK9Mtn.

[Jag Singh @JagSinghMD]

Remote monitoring usage continues to expand! Understanding Device health and patient health from a distance is making care individualized and improves outcomes!
Great talk by ⁦@Nchatterjeemd⁩. #EPeeps ⁦@netta_doc⁩ ⁦@OluAjijola⁩ ⁦@AbbottCardio⁩

[Michael Jue @michaeljue]

Congrats to @doorvestco for raising their pre-seed round! They're on a mission to democratize financial security for everyone, beginning with real estate investing. Learn more here: https://t.co/aLiXOcAgIs

[Leo Polovets @lpolovets]

Last year: "Commuting sucks. Utopia would be if my job went fully remote."

Today: "My job is fully remote. I'm on Zoom calls for 8 hours daily, there's no time to eat lunch, evenings are spent on email, and weekends are gone. What kind of dystopian nightmare is this??"

[AlchemistAccelerator @AlchemistAcc]

Read Our New Post: "Patrick Beattie, Redbird - Founder Story” by @AlchemistAcc Alum and Redbird CEO, Co-Founder, @ThatRedBird https://t.co/OI3425m4LB #Africa #Entrepreneur #Health #Diagnostic #Pharmacies

[Nick Ng @_nickng]

Wish I had this advice in college, in startup land, at any job really. https://t.co/8LPX7pCQEg

[Matthew Herper @matthewherper]

Teladoc Health and Livongo merge in an $18.5 billion deal https://t.co/hT08LlRyQo

[Michael Jue @michaeljue]

@beijingdou @feedthebeans You, sir, are a fortunate man.

[StartX @StartX]

Congratulations Nirav H. Shah, Founder & CEO of #StartX company @SentinelHCare, on its recent partnership with Vituity.https://t.co/aoZHXZSaJx

Apply to be a StartX Company! The deadline to apply for the Fall 2020 Session is Sunday, Aug 2.https://t.co/p045u4APrS
#FounderSuccess