I would argue that only steps 1-8 are necessary for your own bottom-up analysis. You can live without step 2. Also understand that your results from step 3 are likely to be wrong – don’t let a fancy model fool you into thinking you can predict the future. Building a model is helpful for understanding the business and getting some sense for what is priced in so I don’t advocate skipping it entirely.
I especially like the “three asses rule”:
From Dan Primack’s daily Term Sheet email, this is hilarious:
*** Dear GPs: Prospective limited partners look at your social media accounts to see how much time you appear to be working, and how much you appear to be skiing, etc. Same goes for VCs doing due diligence on entrepreneurs.
Although I’ve never looked at a GP / entrepreneur’s social media accounts (other than LinkedIn) I think I’m going to start…
Every time you watch the Gangnam Style video, Korean pop-star Psy makes 0.325 cents.
Interesting article from Quartz about the most watched YouTube video ever and a peak at the economics of YouTube. According to the article, Psy has generated $8M from 1.23 billion views, which works out to 0.65 cents per view. Apparently the creator of a YouTube video keeps about half that. Not a bad deal for Psy or Google.
This morning @jasonmendelson tweeted a picture of Urban Airship’s Meeting Rules. They are:
0.) Do we really need to meet?
1.) Schedule a start, not an end to your meeting – its over when its over, even if that’s just 5 minutes
2.) Be on time!
3.) No multi-tasking… no device usage unless necessary for meeting
4.) If you’re not getting anything out of the meeting, leave
5.) Meetings are not for information sharing – that should be done before the meeting via emails and/or agenda
6.) Who really needs to be at this meeting?
7.) Agree to action items, if any, at the conclusion of the meeting
8.) Don’t feel bad about calling people out on any of the above; it’s the right thing to do
Every once in a while I like to check out The Heads of State. I don’t know what it is but there’s something about their art that really draws me in, I love it. You just know good design when you see it and these guys have some of the best around. There’s actually some pretty good art floating around on Pinterest as well.
I find it rejuvenating to sometimes take a break from the day-to-day and take in some stimulating art (whatever form that may be).
“Life beats down and crushes the soul and art reminds you that you have one”