Podcasts about aggregation theory

Ben and Andrew return from the holidays to check in on the AI landscape. Topics include: Aggregation Theory and the return of marginal costs for hyperscalers, the architecture of OpenAI's o3 model, the murky future for software engineers and SaaS companies, and whether Scarlett Johansson fumbled the bag. At the end: In praise of learning to ski as a middle-aged beginner.

In this episode of the Crazy Wisdom Podcast, Stewart Alsop sits down with Ryan Marsh, CEO of The Stack, to explore a range of fascinating topics, including the rapid evolution of computing and distributed systems, the emergence of complex adaptive systems, and the profound impact of rapid information transfer on societies and economies. They also discuss the transformative potential of automation and LLMs in the workplace, drawing parallels to historical shifts in information landscapes. For more about Ryan Marsh and his work, visit The Stack at thestack.io or email him at ryan@thestack.io. Check out this GPT we trained on the conversation! Timestamps 00:00 - Introduction and discussion about early predictions in computing and distributed systems 00:05 - Emergence of complex adaptive systems and the role of APIs in modern business 00:10 - The impact of rapid information transfer on societies and complex adaptive systems 00:15 - Historical examples and parallels to current information transfer phenomena 00:20 - Social and political changes influenced by rapid information transfer and media evolution  00:25 - Decentralization and distributed computing, comparing past and present military strategies 00:30 - Aggregation theory and future economic power shifts involving LLMs 00:35 - Quality assurance in software development and the role of LLMs in future workflows 00:40 - Potential of automation to replace white-collar jobs and the barriers to implementation 00:45 - Impact of significant disruptions on business operations and workforce dynamics 00:50 - Predictions on future economic and workforce transformations, closing remarks Key Insights 1-Rapid Evolution of Computing and Distributed Systems: Ryan Marsh highlights the astonishing speed at which computing and distributed systems have evolved. Predictions he made years ago, such as businesses interfacing with programmatic APIs, have materialized much faster than anticipated. This shift has transformed how companies operate, enabling seamless interaction and integration at a global scale. 2-Emergence of Complex Adaptive Systems: The conversation delves into the nature of complex adaptive systems, where interconnected components interact dynamically. Marsh explains how modern software development and distributed computing exhibit emergent behaviors similar to those in biological systems, leading to unforeseen capabilities and efficiencies. 3-Impact of Rapid Information Transfer: The ability to transfer information instantaneously has profound effects on societies and economies. Marsh compares the chaotic information landscape of today's voters to the more controlled environments of the past, illustrating how the internet and AI have exponentially increased the speed and reach of information dissemination. 4-Transformation of Work and Automation: Marsh predicts that a significant portion of white-collar jobs could be automated with existing technology, emphasizing the potential for massive efficiency gains in the workplace. He envisions a future where large companies operate with minimal staff, relying heavily on automation and LLMs to handle complex tasks. 5-Decentralization and Military Strategies: Drawing parallels between historical military strategies and modern computing, Marsh discusses the concept of decentralization. He recounts how paratroopers in World War II operated independently with minimal communication, likening this to decentralized computing systems that function efficiently without centralized control. 6-Aggregation Theory and Economic Power Shifts: The episode explores Ben Thompson's aggregation theory, predicting that future economic power will be concentrated in the hands of those who control LLMs. These models will act as ultimate aggregators, profoundly influencing markets and business dynamics. 7-Potential Disruptions and Workforce Dynamics: Both Stewart Alsop III and Ryan Marsh agree that significant disruptions, similar to the COVID-19 pandemic, will be necessary to force companies to adopt new technologies and streamline operations. Such disruptions will likely lead to drastic changes in the workforce, with many traditional roles becoming obsolete and new, technology-driven roles emerging.

Sebastian Duesterhoeft, partner at Lightspeed Ventures, returns to the pod to talk about anything and everything startup operators need to know about Competitive Moats aka the durable competitive advantage of a company. Supercharge financial operations with Maxio. Request a demo at www.maxio.com/runthenumbers for 10% off your first year. --- PSA: Run The Numbers has a new Spotify and Apple show link. Follow the links to subscribe and ensure you'll never miss an episode Apple: https://podcasts.apple.com/us/podcast/run-the-numbers/id1723787140 Spotify: https://open.spotify.com/show/0zQCkklNnVgMD364kCW5SV --- SPONSORS: Maxio | Tropic | Thoropass Maxio is the only billing and financial operations platform that was purpose built for B2B SaaS. They're helping SaaS finance teams automate billing and revenue recognition, manage collections and payments, and put together investor grade reporting packages.

Jupiter's upcoming airdrop will be a watershed moment for Solana. Tune in to find out why! In this episode, we cover the JUP airdrop, the Saga 2 announcement, why vertical integration is working on Solana but not Ethereum, if validator set size matters, why more Solana teams haven't released tokens, how to think critically and more! - - (00:00) Introduction (01:15) The Saga 2 Announcement (6:34) Jupiter's Token Launch (JUP) (16:01) Aggregation Theory and Multichain Strategies (27:25) DAS Promo (28:22) Appchains and the Validator Set Size Debate (34:40) The Solana Foundation's Delegation Program (38:30) How to Think Critically (45:28) Why Haven't More Teams Released Tokens? (52:35) Garrett's Announcement - - Join us at DAS (Digital Asset Summit) in London this March! DAS is the #1 institutional conference in crypto, hosted by Blockworks. Use the link below to learn more, and use LIGHTSPEED10 to get 10% off your ticket! Sign up now because the price goes up every month. See you there! Learn more + get your ticket here: https://blockworks.co/event/digital-asset-summit-2024-london/home - - Follow Mert: https://twitter.com/0xMert_ Follow Garrett: https://twitter.com/GarrettHarper_ Follow Lightspeed: https://twitter.com/Lightspeedpodhq Subscribe on YouTube: https://bit.ly/43o3Syk Subscribe on Apple: https://apple.co/3OhiXgV Subscribe on Spotify: https://spoti.fi/3OkF7PD Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ - - Resources Helius' blog post on Solana Validator Economics https://www.helius.dev/blog/solana-validator-economics-a-primer - - Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mert, Garrett and our guests may hold positions in the companies, funds, or projects discussed.

Ryan Watkins and Wilson Withiam join us to discuss their Solana thesis and how crypto has just entered its next phase of adoption. Ryan is the founder of Syncracy Capital (a crypto hedge fund), and Wilson is their Head of Research. In this episode, we discuss the Bitcoin spot ETF, the Ethereum and LDO thesis, the MakerDAO opportunity, the Solana thesis, investing in SOL vs Solana applications, the DA Layer wars and more! - - Timestamps (00:00) Introduction (01:16) The Bitcoin ETF Approval (05:04) The Ethereum and Liquid Staking (LDO) Thesis (09:52) Crypto's Greatest Misconception (11:27) MakerDAO Investment Thesis (17:17) ETH's Role in the Crypto Economy (20:53) Access Protocol Ad (21:55) DAS London Plug (22:52) The Solana Thesis (38:24) How Crypto Assets Can Achieve a Monetary Premium (42:09) Investing in SOL vs Solana Applications (47:50) Aggregation Theory (53:34) The DA Layer Wars (01:00:25) From Researchers to Launching a Fund - - Access Protocol is the best way to discover premium content from crypto's top publishers and independent creators. Access Protocol has reinvented content monetization, meaning you can access this premium content without endless ads or hard-to-cancel subscriptions.  Access Protocol is crypto-native, built on Solana, and already has 225K users reading content, receiving NFTs and interacting with creators! Use this link to check out Access Protocol today:https://bit.ly/AccessProtocol_Lightspeed - - Join us at DAS (Digital Asset Summit) in London this March! DAS is the #1 institutional conference in crypto, hosted by Blockworks. Use the link below to learn more, and use LIGHTSPEED10 to get 10% off your ticket! Sign up now because the price goes up every month. See you there! Learn more + get your ticket here: https://blockworks.co/event/digital-asset-summit-2024-london/home - - Follow Ryan: https://twitter.com/RyanWatkins_ Follow Wilson: https://twitter.com/WilsonWithiam Follow Mert: https://twitter.com/0xMert_ Follow Garrett: https://twitter.com/GarrettHarper_ Follow Lightspeed: https://twitter.com/Lightspeedpodhq Subscribe on YouTube: https://bit.ly/43o3Syk Subscribe on Apple: https://apple.co/3OhiXgV Subscribe on Spotify: https://spoti.fi/3OkF7PD Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ - - Resources Syncracy Capital https://www.syncracy.io/ https://twitter.com/SyncracyCapital Solana Thesis – The Fastest Horse Rises From the Ashes https://www.syncracy.io/writing/solana-thesis - -  Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mert, Garrett and our guests may hold positions in the companies, funds, or projects discussed.

What is Aggregation Theory and why is it important in pet care? With the recent purchase of Rover by Blackstone, many pet business owners are wondering what it means for them. Today, we break down how Aggregation Theory applies to dog walking and pet sitting, how other industries have navigated dominant players, and what independent businesses can do about it! Main topics: What is aggregation theory? How does it apply to Rover? What can independents do? Main takeaway:  Remember, the personal touch, community involvement, and specialization in services can be your biggest strengths as an independent business. Links: Buy PSC Merch Give us a call! (636) 364-8260  Follow us on: Instagram, Facebook, Twitter Email us at: feedback@petsitterconfessional.com Full show notes and transcript   Sponsored by: ❤️ Our AMAZING Patreon Supporters   Pet Sitters Associates Visit: https://www.petsitllc.com Code: Confessional

Seth and Matt get together for another random show to discuss: 1. Framer's new AI functionality 2. Ben Thompson's Aggregation Theory in a world of AI 3. Powering services business like fiftydollarwebsites and signatures as a service with AI 4. Ideating vs building 5. Ideas for our podcast, including growth strategies and topics to ideate on 6. Rick Rubin idea about showing work to someone else to improve it 7. Reddit Revolt 8. Zuckerberg: Lex Friedman 9. Apple VR 10. Management and AI 11. Carve Outs

This S3 finale covers the top takeaways from the last seven episodes, where we put the AppChain thesis to the test. Our thesis: Apps will leverage their proximity to customers to capture outsized value, mindshare and pricing power. Did the last seven episodes validate our thesis? Tune in for our conclusion and learnings on Aggregation Theory, product vs distribution, Cosmos' biggest weakness, scaling infrastructure and more! - - Timestamps: (00:00) S3 Finale -- Subscribe on YouTube: https://bit.ly/3R1D1D9 Subscribe on Apple: https://apple.co/3pQTfmD Subscribe on Spotify: https://spoti.fi/3cpKZXH - - Disclaimer: Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed.

We're very excited for this one. Part of our mission with Making Media is to highlight great content across the internet. Today, we're starting with business essays and to bring some wisdom to the conversation, we enlisted one of our favorite writers, Packy McCormick. Hear us break down our most influential business essays, read them through the links in the shownotes, and let us know what you think on Twitter or hello@joincolossus.com. Enjoy!   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.    -----   Scribe is the presenting sponsor of this episode of Making Media and the magic behind the Colossus transcripts. One of the best decisions we made at Colossus was transcribing all of our audio into a searchable transcript library. We had been using another provider up until the summer of 2022 but we were constantly having issues with accuracy if our audio was just the slightest bit impaired. Whether it's training sessions, internal Q&As, or for media purposes, the value of transcripts is huge. And we are not alone. Scribe is the transcription service that powers all of S&P Global - like CapIQ - and the client list includes our friends at Tegus. Go to joincolossus.com/scribe to unlock 150 minutes of free transcription and test their capabilities.   -----   Making Media is a property of Colossus, LLC. For more episodes of Making Media, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @ReustleMatt | @domcooke | @JoinColossus    Show Notes (00:02:59) - [First question] - The Not Boring back story and what he learned from his time at Breather (00:05:06) - Aggregation Theory by Ben Thompson (00:09:42) - The Bus Ticket Theory of Genius by Paul Graham (00:13:45) - Letter to a friend who may start a new investment platform by Graham Duncan (00:17:05) - Positional Scarcity by Alex Danco (00:22:23] - The Three Sides of Risk by Morgan Housel (00:26:56) - Salary Negotiation by Patrick McKenzie (00:31:47) - Sam Hinkie's resignation letter (00:37:10) - Increasing Returns and the New World of Business by W. Brian Arthur (00:41:54) - 10 Tips on Writing by David Ogilvy (00:44:46) - The next big thing will start out looking like a toy by Chris Dixon (00:49:08) - The Tail End by Tim Urban (00:53:41) - 1,000 True Fans by Kevin Kelly (00:59:07) - Honorable mention: The Great Online Game by Packy McCormick (01:03:26) - Honorable mention: Excel Never Dies by Packy McCormick  (01:05:58) - Packy's closing thoughts and why he thinks people should read more Sci-Fi (01:08:37) - Honorable mention: Snow Crash by Neal Stephenson Learn more about your ad choices. Visit megaphone.fm/adchoices

Season 3 | Episode 2 In this episode of Bell Curve, Zaki Manian and Sam Hart join us to discuss how Aggregation Theory applies to crypto protocols. We explore if applications can covert user relationships into sticky profits, crypto moats, blockspace as a commodity, the benefits of controlling the full tech stack and more! PS: don't miss the "Smiling Curve" section of the episode - it's an under-discussed idea that will start appearing in crypto value-capture debates! - - Timestamps: (00:00) Intro: Pre-Interview (02:29) The AppChain Thesis  (09:31) Aggregation Theory (25:31) Do Moats Exist? (31:34) Is Blockspace a Commodity? (38:25) The Smiling Curve (47:04) Will dYdX Validate the AppChain Thesis? (52:28) Controlling the Entire Stack (1:01:22) Recap: Post-Interview - - Follow Myles: https://twitter.com/MylesOneil Follow Mike: https://twitter.com/MikeIppolito_ Follow Zaki: https://twitter.com/zmanian Follow Sam: https://twitter.com/hxrts Subscribe on YouTube: https://bit.ly/3R1D1D9 Subscribe on Apple: https://apple.co/3pQTfmD Subscribe on Spotify: https://spoti.fi/3cpKZXH - - Resources: Ben Thompson's Aggregation Theory https://stratechery.com/aggregation-theory/ - - Disclaimer: Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed.

✨ DEBRIEF | Unpacking the Episode: https://shows.banklesshq.com/p/debrief-unichain-is-inevitable  Dan Elitzer is the co-founder of Nascent, a VC firm working on the frontier of crypto Previously, he was previously leading IDEO CoLab Ventures, and has been on the frontier of crypto innovations for as long as we can remember. Dan helps us unpack The AppChain Thesis, a possible outcome where every big DeFi app is going to have its own chain. How will this reshape crypto? Where do we find opportunities? Does this thesis even make sense? Further, Dan, Ryan, and David cover the case for why Uniswap is going to have its own chain, why Dan thinks there's an inevitable economic incentive for large DeFi apps to start their own chains, the main objections to The AppChain Thesis, and so much more. ------

In this episode of SaaS Connect by Cloud Software Association, we welcome Laura Padilla, Head of Global Channel, Platform Sales and BD at Zoom at the time of this presentation and now VP, Global Partners and Services at Airtable. Laura discusses: The explosive success of Zoom during the pandemic and how to build for scale and hypergrowth. Zoom's growth: in 2019 the company had 74,000 customers and 1,700 employees. After the pandemic, it had grown to 500,000 customers and more than 6,800 employees. Zoom's partner team grew 670% and, today, 30% of its current revenue is attributed to partners. The 4 Ps of partner ecosystem success: Product Program Partners People Resources Mentioned: Ben Thompson's Aggregation Theory - https://stratechery.com/aggregation-theory/ Note: SaaS Connect 2023 will take place in San Francisco April 19th and 20th. If you would like to be a sponsor, please contact us at admin@cloudsoftwareassociation.com for information. Thank you to our amazing podcast team at Content Allies. Want to launch your own B2B revenue-generating podcasts? Contact them at https://ContentAllies.com.

In this episode of SaaS Connect by Cloud Software Association, Scott Brinker, VP Platform Ecosystem at HubSpot, discusses consolidation vs. aggregation and what makes ecosystems great. HubSpot, one of the first Martech tools on the market, offers software products for inbound marketing, sales, and customer service. The lessons presented by Scott span the last ten years, from the start of Martech: Disruptive innovation happens. One chapter closes, another opens. Categorization is hard. It's hard to know what will go viral. Everybody has opinions. System dynamics rule everything. There's an app for everything. People don't realize how many apps they depend on in their daily lives. Great ecosystems are not fragile. Growth of the Martech landscape over the last 10 years (5,233% from 2011 to 2022). App explosion and adoption - on average, each company uses 300 SaaS apps. Difference between consolidation and aggregation. Layers of integration with aggregation. Resources Mentioned: Ben Thompson's Aggregation Theory - https://stratechery.com/aggregation-theory/ Note: SaaS Connect 2023 will take place in San Francisco April 19th and 20th. If you would like to be a sponsor, please contact us at admin@cloudsoftwareassociation.com for information. Thank you to our amazing podcast team at Content Allies. Want to launch your own B2B revenue-generating podcasts? Contact them at https://ContentAllies.com. #saas #software #cloud #saaspodcast #cloudsoftwareassociation #ecosystem #martech

The semantic web was an effort to mark up webpages with facts about their content. The dream was to enable computers, to understand the world by reading these webpages. We discuss why the effort failed, how it relates to symbolic AI/knowledge graphs, and how the vision could still be realized today.Links/Resources:Introducing the Knowledge Graphhttps://twobithistory.org/2018/05/27/semantic-web.htmlMetacrap: Putting the torch to seven straw-men of the meta-utopiaWhatever happened to the Semantic Web? https://news.ycombinator.com/item?id=16806657http://ai.stanford.edu/blog/introduction-to-knowledge-graphs/Aggregation Theory: https://stratechery.com/concept/aggregation-theory/Chapters:0:00 Intros2:12 What is the Semantic Web?3:59 The Early 2000's8:32 The Idealism of the Semantic Web11:30 How it worked18:19 Roots in Symbolic AI22:53 The OG Web 3.025:28 Why Did the Semantic Web Fail?35:46 A Misalignment with the Medium41:10 Crypto and Semantic Web Collide43:25 Deep Learning and the Semantic Web Collide47:09 Vestiges of the Semantic Web49:44 Path to Intelligent Agents55:03 Incentive structures1:02:49 Token Curated Registries and the Semantic Web===== About “The Technium” =====The Technium is a weekly podcast discussing the edge of technology and what we can build with it. Each week, Sri and Wil introduce a big idea in the future of computing and extrapolate the effect it will have on the world.Follow us for new videos every week on web3, cryptocurrency, programming languages, machine learning, artificial intelligence, and more!===== Socials =====WEBSITE: https://technium.transistor.fm/ SPOTIFY: https://open.spotify.com/show/1ljTFMgTeRQJ69KRWAkBy7 APPLE PODCASTS: https://podcasts.apple.com/us/podcast/the-technium/id1608747545

African culture and content is taking over the world - from Afrobeats and amapiano, to Nollywood and Netflix originals, to fashion. To what degree can Africans monetize their creativity not only on the continent but globally? To what extent can Africans, as owners of culture and intellectual property, participate in the upside? And if content has been largely an export product, to date, how do *we* develop the local creator ecosystem, as well?05:11 - A brief history of the creator economy. From aggregation theory to 1000 true fans.07:59 - We start with the platforms, and TikTok's Boniswa Sidwaba.11:11 - A challenge with creator monetization for African creators is the value of their audience to an advertiser. We hear from YouTuber Tayo Aina, with a cameo from another YouTuber, Hank Green.15:33 - Because of limited monetization opportunities from the platforms directly, creators ink brand partnerships and sell direct to their audience. 19:49 - The challenge with monetizing an audience directly in a market like Nigeria is the poor macroeconomic situation. So content remains largely an export product, says Iroko's Jason Njoku. 23:17 - But the local fanbase is still incredibly important, and the local infrastructure still needs to be built. It's what Mr Eazi is trying to do for the music industry. 29:22 - How do we make sure value accrues back to the markets from which the content comes?31:42 - Our retrospective conversation between The Flip's Justin Norman and Sayo Folawiyo.Resources referenced in this episode:What is Aggregation Theory? by Ben Thompson1000 True Fans by Kevin KellySo...TikTok Sucks by Hank GreenTayo Aina's YouTube Creator AcademyThis season is sponsored by MFS Africa.All this season, we're exploring value chains. And in the payments value chain, no fintech has a wider reach on the continent than MFS Africa. Through their network of over 180 partners - MNOs, banks, NGOs, fintechs, and global enterprises - MFS Africa's API hub makes connects over 320 million mobile wallets across 30+ countries in Africa.

Todays episode breaks down a business framework that explains why some businesses are so powerful, so defensible, and only get more powerful & defensible with each day that passes.Listen to my episode on Network Effects here.

Audio source: https://art19.com/shows/the-founders-journal/episodes/a77afe33-236f-44b6-a2e8-55b6ff5c8e02Ben Thompson's own writing on Aggregation Theory Transcriptswyx: [00:00:00] I generally think that Ben Thompson's aggregation theory is the most important tech strategy concept of our time. It explains a lot. But Ben Thompson himself doesn't really have a good explainer on his own site. So I really appreciated this. Summary by Alex Lieberman of aggregation theory. I thought it was the clearest explainer, with some examples, that I've ever heard. So enjoy.Alex Lieberman: [00:00:23] Aggregation theory says that some of the most dominant companies in the world became dominant by doing three things. First, they have a direct relationship with their customer. Two, there is zero marginal cost to serve their customer and three, they have network effects. I'm going to unpack each of these qualities. Own The Relationship [00:00:43] The first quality that I mentioned was having a direct relationship with the user. Google is the most trafficked site on planet earth. There are 63,000 searches that happen every second on the site. By the end of this episode, there will have been 50 million searches that happen on the platform. Since you started listening. Google's power is in its relationship with you.The user, when you search something on Google, you are Google's customer. You're not the customer of the website that you end up going to Google captures your data. They monetize you. They recommend the most relevant content for you to click on. And Google is the website that you go to when you want to find an answer.And so just so you have a comparison around like what it looks like to own your relationship versus not own it take most retail companies that sell through brick and mortar, which many of them do? So let's say you're Patagonia and let's say you sell pullovers through Bloomingdale's. You don't own the customer relationship as Patagonia Bloomingdale's does.Bloomingdale's has your information as the customer. They know what you bought and they can market to you moving forward, because they have things like your email address or your credit card information beyond getting the sale. If you're Patagonia, you haven't learned anything about your customer.That's the first characteristic of aggregators. You own the user relationship. Zero Marginal Cost [00:02:08]Now, number two, the second relationship of aggregators is that there is zero marginal cost for serving users. Let me explain what that means. If you're an aggregator, you don't incur any of the marginal costs that most businesses have to.So take Airbnb. All Airbnb does is provide a great user experience for the customer or the renter to find homes or apartments for rental Airbnb. Doesn't have to worry about the normal costs that most businesses do in serving their customers, because they're not the supplier of the product. There's no such thing as cost of goods sold for Airbnb because they are simply aggregating supply or homes or apartments.And they're playing matchmaker for demand, which are the people who want to. Rent homes or apartments, whereas let's say your t-shirt business, you have to incur the cost of each additional t-shirt to serve each customer. Airbnb doesn't have any marginal costs for adding another customer on the platform, because if someone decides to find a place to stay on their platform, Airbnb isn't paying for it.They're simply just connecting that person with the home or the apartment that they were looking for. On top of that, Airbnb also doesn't have to deal with distribution costs because their business exists on the internet. Unlike say a fulfillment based business like Amazon, which literally has to ship physical goods everywhere across the world.Airbnb is built on the internet and the internet has made delivering goods. Zero cost. That's the second quality of aggregators. Network Effects [00:03:41] The third and final characteristic of an aggregator are network effects. Basically all that, this means is an aggregator gets more valuable over time for the user and aggregators. Find that the cost of acquiring new customers goes down over time as well, which is completely opposite from what most businesses experience for most businesses.When you start your company, when you achieve product market fit, your initial customers are generally your most passionate, your most loyal and your perfect fit customers. As you grow your company, you find that the quality of your customer goes down because it isn't a perfect fit. Aggregators are different in that regard, it actually costs less to get good customers moving forward.Whereas for normal businesses, as you expand, you have to pay more to convince. Less perfect customers to join your company or buy your product. What that also means is aggregators generally operate in a winner, take all fashion because it becomes increasingly difficult for any companies in the industry that an aggregator plays into compete at scale, if not only does the product get more valuable for users, but it also gets cheaper to acquire users.

Geschäftsmodelle sind der Kern von Unternehmen. Sie bestimmen langfristig den Erfolg oder Misserfolg - viel mehr, als es kurzfristige Kennzahlen, Preisschwankungen oder politische Ereignisse es tun. Starke Geschäftsmodelle schaffen hochwertige Unternehmen. Es entspricht dem weisen Spruch von Warren Buffett: „Ich versuche Aktien von Unternehmen zu kaufen, die so wunderbar sind, dass ein Idiot sie führen könnte - denn früher oder später wird es einer tun.“ Was sind also heute bzw. 2021 die stärksten Geschäftsmodelle? Ich zeige dir die Börsenlieblinge, die wichtigsten Branchen. passende Unternehmen dazu und wichtige Faktoren für Aktienunternehmen in der Zukunft. Hochwertige Aktienanalysen, Tipps zur Aktienbewertung & Aktienmarkt-Updates: https://strategyinvest.de/ Dein Weg zum erfolgreichen Anleger: https://aktienrebell.de/academy/ Hier kaufe ich Aktien & ETFs: https://aktienrebell.de/welches-depot/ Aggregation Theory: https://strategyinvest.de/aggregation-theory/ Wenn dir der Podcast gefällt, würde ich mich freuen, wenn du mir eine positive Bewertung da lässt. Vielen Dank für deine Unterstützung! Schaue für mehr Tipps & Know-How für deine Geldanlage, zum Investieren, der Börse, Aktien und Co. auf aktienrebell.de vorbei.

The NASDAQ toppled down earlier in September worrying some investors that we may be headed for a tech crash. Michael and Adam discuss whether or not we are facing an imminent correction due to a tech bubble. Aggregation Theory    https://stratechery.com/aggregation-theory/ AssetBuilder Knowledge Center https://assetbuilder.com/knowledge-center Keep it Simple Podcast Pagehttps://assetbuilder.com/podcast email us at podcast@assetbuilder.com

For today’s episode, I want to share an out-take from my consulting work, something I think might be interesting for anyone working in the technology industry. It’s a set of 20 questions that can help you uncover the current state of play in your business. The questions are mainly useful for technology companies for reasons I’ll get to, and are probably of limited value to non-technology businesses, but you’re welcome to try using them for non-technology businesses.A caution: The only person who can usefully answer these questions for the company as a whole is the CEO. But it’s a fun game to play from any position, and useful to the extent you are close to, and aligned with, the CEO. I put this list together in the course of some work I’m doing with a client, and in doing that, I realized that these are the questions I tend to explore free-form in the first couple of orientation calls with all new clients. I don’t explore these via an explicit Q&A, but more in a sort of bingo-card format, where I look for answers to these in a free-form conversation. For me, it’s a way to efficiently learn about the business, and for them, it tends to be a useful exercise to turn an unconscious sense of the state of play into a conscious one.So here are the questions, with some commentary afterwards. Note that this is written text is a skeletal outline, not a transcript. The audio has me riffing on all these questions and explaining the logic of the sequence, so you’ll have to listen if you want the whole thing.The QuestionsWhat is the primary operational bottleneck or "firefight" currently consuming the bulk of your attention? (eg: "growing schedule slippage on launch of product X" or "difficulty filling critical CxO position" or "PR damage control due to issue X")What is currently the biggest source of uncertainty/doubt/anxiety for the company? (Be specific, eg: "high failure rate of manufacturing process X" or "poor conversion rates of sales campaign for product Y" or "What customer Z will decide for their product P")What are the top 5-7 events coming up on the company roadmap in the next few years? (eg: key technology tests, decision points, product launches, sales drives, external events like elections) Who/what are the top 5-7 most important external entities shaping your business sector environment? (key customers, value chain partners, government agencies etc. Name either individual entities, or classes that are as specific as possible, like "small food-service business owners").Which entity in the list from Q4 above exercises the MOST strategic control over the primary value chain of interest to the business?Which entity in the list from Q4 consumes the largest share of your personal attention? (can be the same as 5)What is the MAIN line of business (LOB) the company MUST win in, within the current business model, to be successful?What is currently the MAIN strategic metric/measure that tells you whether you're winning or losing in that LOB? (be specific, eg: "free cash flow" or "increasing yield rate from process X" or "rate of increase of production volume")Who is the ultimate customer/end user for the overall value chain this LOB is part of? (Be as specific as possible. Eg, "fast-food restaurant chains")Who is the immediate prototypical customer for this LOB for your business? (Eg, "commercial kitchen equipment manufacturers")What is ONE belief held by this prototypical customer that you would like to change, and what would you like it to change to?What they believe:What you would like them to believe:What is your "Thielean Secret"? ONE key belief held by you/your company that is NOT widely shared by the industry?What is working unexpectedly well, where you seem to be getting surprisingly lucky?What is working predictably badly, and seems hopeless/doomed?Overall, how well is the current business model working? Use a qualitative phrase in the range from "succeeding wildly" to "in big trouble"What do you estimate are the % chances you'll need to execute a major business model pivot within the next 3 years?If you do need to pivot, what is the most likely alternative business model you will be considering?What are the top 3-5 macro trends affecting your business environment (Be specific: examples: Covid, China trade war, climate change, software eating the world, input X commoditizing, industry structure going from horizontal to vertical…)What are the top 3-5 elements of the business environment that are NOT changing?Based on reflection on your answers to questions 1-19, list  between 3-5 problems that you consider to be the top strategic priorities. Describe each with a single sentence. They can relate to any aspect of the business: internal or external, relating to marketing, engineering, HR, sales, or cutting across functional boundaries. Try and state it in terms of key details that have strategic significance, not generalities (eg, "Get defect rate for manufacturing process X below Y%" not "Improve quality") These questions are specifically useful for technology businesses — businesses that develop and sell products or services that take significant engineering, and are driven by, and drive, technology trends. This is because technology businesses are strongly time-based, and have to evolve and maneuver in a marketplace where competition is based primarily on innovation, not supply and demand shifts due to macro factors in an otherwise unchanging market. In other words, there is a sort of fast-evolving real history to technology businesses that’s not really there in non-technology businesses, like managing a corner grocery store or even a consulting business like mine. These questions assume that the logic of the business is the logic of time-based competition, which means your approach will include things like OODA loops, S-curves, disruption, Simon Wardley’s Wardley Maps, Ben Thompson’s Aggregation Theory, and so on.Even though the questions might seem banal and obvious, the thing is there’s a lot of banal and obvious questions you can ask about any business, like hundreds, and it’s not immediately obvious, at least to me, that these are the right ones. These questions — in this rough sequence — are ones I’ve converged on through trial-and-error over nearly a decade of initial orientation conversations with new clients. Many other questions can be usefully asked once you have a sense of the answers to these basic questions, but skipping these and going straight to other questions is usually a recipe for frustration.So that’s it for this episode. You’ve been listening to/reading a free podcast issue of the Breaking Smart newsletter, where I send out a longform piece for subscribers every Friday, usually an installment from one of my multi-part projects, and sometimes stand-alone essays. Once every 3 or 4 weeks, I publish a free public podcast like this. In the previous 3 weeks, I published 3 subscribers-only essays:Control Failure -1 from my Great Weirding essay series, about the global transformation of the last few years.The Descent of the Public, from my After Westphalia essay series, about what comes after the nation-state.Operating in Time -2, the concluding part of Chapter 3 of my book project, The Clockless Clock.Thank you for listening, andI’ll be back next week with another longform piece. Get full access to Breaking Smart at breakingsmart.substack.com/subscribe

Podcast Notes Key Takeaways The smartphone is the true personal computer:“You have this device with you that has a large enough screen to do work done is small enough to be pocketable” – Ben ThompsonExpect to see more  specialized devices like AR glasses and smartwatch in the future, but the smartphone will still be the main device people useWhat makes a company an aggregator:Has relationships with usersZero marginal cost of serving usersDecreasing acquisition costs over timeSpotify’s master plan to take over the podcast space:“They’ll say, look, we have all these customers, we monetize better because we understand these customers better. You need to come onto our platform and use our superior, we will monetize you better. And then suddenly they become the center of this where they have a critical mass of users who they understand better and they pull podcasters on and start getting this sort of a virtuous cycle and becomes sort of the center of podcasting.” – Ben ThompsonApple had the opportunity to do this but they passed on it: “ iTunes doesn’t host podcasts. A lot of people don’t realize this, but it’s sort of the directory where everything is and the more important thing is the Apple podcast player is the biggest podcast player. Had Apple chosen to leverage that particularly a couple of years ago, they could have built this whole thing, built an ad network, but…it’s just not what Apple sort of does and so they sort of just let it be” – Ben ThompsonDisney is able to charge a lower subscription fee for their service than Netflix because Disney can monetize their customers in more ways than Netflix (ex: cruise lines, amusement parks, etc.)Ben is bullish on local journalism but only if they report on important local events instead of constantly posting non-essential articles“I don’t need more content. What I’m looking is to feel informed and you deliver the experience of feeling informed oftentimes by telling someone nothing here, go spend your time somewhere else and you’ve actually checked that.”– Ben Thompsoneval(ez_write_tag([[728,90],'podcastnotes_org-medrectangle-3','ezslot_0',122,'0','0']));Read the full notes @ podcastnotes.orgMy guest today is Ben Thompson. Ben is the author of my favorite business strategy newsletter called Stratechery. He’s also the host of the exponent podcast, and now the Dithering, a podcast he recently launched with John Gruber. I think Ben is among the most interesting business analysts in the world, and I’ve learned from and directly applied many of his ideas. We cover many of the major concepts he’s introduced over the years, including his well know aggregation theory. I think that to understand how the internet has changed the business world for good, you must read Ben and follow his thinking. I’m excited to finally have him as a guest on the show. Please enjoy our conversation. For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub. Follow Patrick on Twitter at @patrick_oshag   Show Notes (01:26) – (First question) – Companies that are built for the next disruption             (1:32) – The End of the Beginning (9:58) – Aggregation Theory and the Smiling Curve (13:18) – Steps to creating an aggregator (19:46) – Pattern of successful aggregators or luck? (24:34) – How aggregators interact with suppliers and consumers (30:49) – Taking on other aggregators (34:09) – Platform vs aggregator in the scope of Shopify vs Amazon/Walmart (40:55) – The Moat Map (46:16) – Value chain thinking and profitable business models (51:58) – Future of media and independent content creator’s vs bundles (56:07) – Bundling independent creators (1:00:37) – The infrastructure layer of technology and software companies (1:02:35) – His thoughts on gaming platforms (1:06:13) – The atoms vs the bits in the tech world (1:12:18) – What he’s learned from covering Netflix (1:13:46) – Kindest thing anyone has done for Ben             (1:15:56) – Stratechery Podcast   Learn More For more episodes go to InvestorFieldGuide.com/podcast.  Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on Twitter at @patrick_oshag

My guest today is Ben Thompson. Ben is the author of my favorite business strategy newsletter called Stratechery. He’s also the host of the exponent podcast, and now the Dithering, a podcast he recently launched with John Gruber. I think Ben is among the most interesting business analysts in the world, and I’ve learned from and directly applied many of his ideas. We cover many of the major concepts he’s introduced over the years, including his well know aggregation theory. I think that to understand how the internet has changed the business world for good, you must read Ben and follow his thinking. I’m excited to finally have him as a guest on the show. Please enjoy our conversation. For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub. Follow Patrick on Twitter at @patrick_oshag   Show Notes (01:26) – (First question) – Companies that are built for the next disruption             (1:32) – The End of the Beginning (9:58) – Aggregation Theory and the Smiling Curve (13:18) – Steps to creating an aggregator (19:46) – Pattern of successful aggregators or luck? (24:34) – How aggregators interact with suppliers and consumers (30:49) – Taking on other aggregators (34:09) – Platform vs aggregator in the scope of Shopify vs Amazon/Walmart (40:55) – The Moat Map (46:16) – Value chain thinking and profitable business models (51:58) – Future of media and independent content creator’s vs bundles (56:07) – Bundling independent creators (1:00:37) – The infrastructure layer of technology and software companies (1:02:35) – His thoughts on gaming platforms (1:06:13) – The atoms vs the bits in the tech world (1:12:18) – What he’s learned from covering Netflix (1:13:46) – Kindest thing anyone has done for Ben             (1:15:56) – Stratechery Podcast   Learn More For more episodes go to InvestorFieldGuide.com/podcast.  Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on Twitter at @patrick_oshag

With a $1.5bn valuation, ZipRecruiter is revolutionizing careers as the #1 Job Search app in the market. Ian Siegel, Founder and CEO at ZipRecruiter, walks us through how ZipRecruiter has created a sustainable competitive advantage with the help of 1) Aggregation Theory and 2) AI/machine-learning capabilities. Ian also shares how ZipRecruiter's novel monetization model and disciplined focus on product have satisfied employers of all sizes.

AnexiPod: Episode 41 Aggregation Theory with Cohesity Steve Grewal CTO, Federal & Eastern US https://twitter.com/SteveGrewal Show Notes: Aggregation Theory Music Puzzle Pieces – Lee Rosevere Bust This Bust That – […] The post Episode 41: Aggregation Theory with Cohesity appeared first on Anexinet.

Fat Protocols sparked a revolution when it was first published in 2016. It’s absolutely essential reading for everyone in the industry. This panel brings together three leading GPs in crypto to reexamine the thesis and challenge its long-term viability two years after it was first proposed. This panel features Kyle Samani of Multicoin Capital; Joey Krug, the Co-CIO of Pantera Capital (and the co-founder of Augur, a decentralized prediction market platform); and Jesse Walden, a Partner at a16zcrypto.

James and Ben talk about the connection between Jobs to be Done and Aggregation Theory, why the consumer and enterprise markets are so different, and discomfort with big companies like Google. Links Ben Thompson: Aggregators and Jobs-to-be-Done — Stratechery Ben Thompson: The Scooter Economy — Stratechery Ben Thompson: Aggregation Theory — Stratechery Ben Thompson: The Jobs TV Does — Stratechery Ben Thompson: The State of Technology at the End of 2018 — Stratechery Ben Thompson: What Clayton Christensen Got Wrong — Stratechery Ben Thompson: Data Factories — Stratechery Ben Thompson: Slack versus Teams — Stratechery Ben Thompson: Antitrust, the App … Continue reading Episode 157 — Clumping and Clustering

James and Ben talk about the connection between Jobs to be Done and Aggregation Theory, why the consumer and enterprise markets are so different, and discomfort with big companies like Google. Links Ben Thompson: Aggregators and Jobs-to-be-Done — Stratechery Ben Thompson: The Scooter Economy — Stratechery Ben Thompson: Aggregation Theory — Stratechery Ben Thompson: The Jobs TV Does — Stratechery Ben Thompson: The State of Technology at the End of 2018 — Stratechery Ben Thompson: What Clayton Christensen Got Wrong — Stratechery Ben Thompson: Data Factories — Stratechery Ben Thompson: Slack versus Teams — Stratechery Ben Thompson: Antitrust, the App … Continue reading Episode 157 — Clumping and Clustering

Interview location: SkypeInterview date: Wed 5th September 2018Company: Multicoin CapitalRole: Founding PartnerKyle first appeared on the What Bitcoin Did podcast in March, where we discussed his views on regulation in Crypto, institutional inflows and his doubts about Bitcoin. Since then, Kyle Tweeted about his changing stance with Bitcoin, specifically stating "TLDR: I'm bought in. Kind of."Kyle does split opinion; there are maximalists who think he talks nonsense, some who hold him to account for his over bullish thoughts on EOS and others who appreciate his hard work and the thought pieces he puts into the market.Following Kyle, I have come to understand his approach. As a hedge fund manager, his goal is to create a return on his capital, and he sees blockchain as a disruptive technology which can change the world, thus creating a return for the fund. Kyle, therefore, puts out statements, questions and ideas into the market to spark a debate. He doesn't mind being wrong, insulted or challenged; everything is done with the goal of finding value and investment ideas.Whether you agree with Kyle or not, if there is value to be created outside of Bitcoin then Kyle will likely find it, which is why significant other investors are backing him. In this interview we discuss:Why his view has changed on BitcoinMiner rewards after the 2024 halvingProof of stake v proof of workWhat will be the global digital reserve assetKyle’s article: Aggregation Theory, Thin Protocols, And Recentralization: Augur Edition-----If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:Become a Patron and get access to shows early or help contributeMake a tip:Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2SQR Codes: Bitcoin | Ethereum | Litecoin | Monero | ZCash | RipplecoinIf you do send a tip then please email me so that I can say thank youSubscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | TuneIn | RSS FeedLeave a review on iTunesShare the show and episodes with your friends and familySubscribe to the newsletter on my websiteFollow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTubeIf you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Ben and James discuss Zillow’s shift in business model and the further refinement of Aggregation Theory through the incorporation of the ideas of disruption. Presented by WordPress.com: Get 15% off on a new site by visiting WordPress.com/Exponent. Links Ben Thompson: Zillow, Aggregation, and Integration — Stratechery Ben Thompson: Opendoor: A Startup Worth Emulating — Stratechery Episode 098: Shattered Glass — Exponent Ben Thompson: Defining Aggregators — Stratechery Ben Thompson: Aggregation Theory — Stratechery Ben Thompson: Netflix and the Conservation of Attractive Profits — Stratechery Ben Thompson: The Truth About Windows Versus the Mac — Stratechery Ben Thompson: Books and Blog … Continue reading Episode 149 — Zillow and Sustaining Aggregation

Ben and James discuss Zillow’s shift in business model and the further refinement of Aggregation Theory through the incorporation of the ideas of disruption. Presented by WordPress.com: Get 15% off on a new site by visiting WordPress.com/Exponent. Links Ben Thompson: Zillow, Aggregation, and Integration — Stratechery Ben Thompson: Opendoor: A Startup Worth Emulating — Stratechery Episode 098: Shattered Glass — Exponent Ben Thompson: Defining Aggregators — Stratechery Ben Thompson: Aggregation Theory — Stratechery Ben Thompson: Netflix and the Conservation of Attractive Profits — Stratechery Ben Thompson: The Truth About Windows Versus the Mac — Stratechery Ben Thompson: Books and Blog … Continue reading Episode 149 — Zillow and Sustaining Aggregation

Your Innovation Engine Sherpas explore the new Amazon-Berkshire Hathaway-J.P. Morgan Chase venture through the lens of Aggregation Theory. So what's that? Don't worry, we'll explain it! Special thanks (an understatement) to Ben Thompson of Stratechery and the ExponentFM Podcast and his podcast partner James Allworth. Ben's understanding of Amazon's strategy and business model, and his formulation of Aggregation Theory are absolute must-reads for anyone trying to sort out what might transpire in the years ahead. We are grateful to Ben and James for their insight, and for teaming up on our favorite podcast. Yes, some of us in health care are listening, and we totally grok it! https://stratechery.com/2018/amazon-health/ https://itunes.apple.com/us/podcast/episode-139-amazon-and-health-care/id826420969?i=1000401315874&mt=2 https://stratechery.com/2016/the-amazon-tax/ https://stratechery.com/2017/amazons-new-customer/ https://stratechery.com/2018/amazons-go-and-the-future/ Support the show (https://healthpodcastnetwork.com/)

Ben and James discuss the why it is Ben can’t stop talking about Aggregation Theory, and the future of regulation. Presented by MailChimp Links Episode 016: Naked People (James first trip to Burning Man) — Exponent Ben Thompson: Everything is Changing; So Should Antitrust — Stratechery Ben Thompson: TV Advertising’s Strength — and Inevitable Fall — Stratechery Ben Thompson: Ad Agencies and Accountability — Stratechery Ben Thompson: Paypal’s Incentive Problem — Stratechery Ben Thompson: Aggregation Theory — Stratechery Ben Thompson: Dollar Shave Club and the Disruption of Everything — Stratechery Episode 005: The World Has Changed — Exponent Ben Thompson: Antitrust and … Continue reading Episode 123 — There Is No Going Back

Ben and James discuss the why it is Ben can’t stop talking about Aggregation Theory, and the future of regulation. Presented by MailChimp Links Episode 016: Naked People (James first trip to Burning Man) — Exponent Ben Thompson: Everything is Changing; So Should Antitrust — Stratechery Ben Thompson: TV Advertising’s Strength — and Inevitable Fall — Stratechery Ben Thompson: Ad Agencies and Accountability — Stratechery Ben Thompson: Paypal’s Incentive Problem — Stratechery Ben Thompson: Aggregation Theory — Stratechery Ben Thompson: Dollar Shave Club and the Disruption of Everything — Stratechery Episode 005: The World Has Changed — Exponent Ben Thompson: Antitrust and … Continue reading Episode 123 — There Is No Going Back

Ben and James discuss the European Commission’s antitrust ruling against Google and the challenges of antitrust in a world governed by Aggregation Theory. Presented by MailChimp Links Ben Thompson: Ends, Means, and Antitrust — Stratechery Episode 005: The World Has Changed — Exponent Ben Thompson: Antitrust and Aggregation — Stratechery Press Release — European Commission Fact Sheet — European Commission Hosts Ben Thompson, @benthompson, Stratechery James Allworth, @jamesallworth, Harvard Business Review Podcast Information Feed iTunes SoundCloud Twitter Feedback Presented by MailChimp

Ben and James discuss the European Commission’s antitrust ruling against Google and the challenges of antitrust in a world governed by Aggregation Theory. Presented by MailChimp Links Ben Thompson: Ends, Means, and Antitrust — Stratechery Episode 005: The World Has Changed — Exponent Ben Thompson: Antitrust and Aggregation — Stratechery Press Release — European Commission Fact Sheet — European Commission Hosts Ben Thompson, @benthompson, Stratechery James Allworth, @jamesallworth, Harvard Business Review Podcast Information Feed iTunes SoundCloud Twitter Feedback Presented by MailChimp

Ben and James discuss the Donald Trump and inequality, then FANG, Aggregation Theory, and Disruption. This episode is sponsored by Wealthfront. See recommended portfolios and get up to $15,000 managed for free by visiting Wealthfront.com/exponent. Links Michael Brendan: How an Obscure Adviser to Pat Buchanan Predicted the Wild Trump Campaign in 1996 — The Week John Gruber and Phil Schiller: Live From WWDC 2015, with Special Guest Phil Schiller — The Talk Show Ben Thompson: The FANG Playbook — Stratechery Ben Thompson: Netflix and the Conservation of Attractive Profits — Stratechery Ben Thompson: Netflix Goes Global — Stratechery Daily Update … Continue reading Episode 064 — Disrupting Trump

Ben and James discuss the Donald Trump and inequality, then FANG, Aggregation Theory, and Disruption. This episode is sponsored by Wealthfront. See recommended portfolios and get up to $15,000 managed for free by visiting Wealthfront.com/exponent. Links Michael Brendan: How an Obscure Adviser to Pat Buchanan Predicted the Wild Trump Campaign in 1996 — The Week John Gruber and Phil Schiller: Live From WWDC 2015, with Special Guest Phil Schiller — The Talk Show Ben Thompson: The FANG Playbook — Stratechery Ben Thompson: Netflix and the Conservation of Attractive Profits — Stratechery Ben Thompson: Netflix Goes Global — Stratechery Daily Update … Continue reading Episode 064 — Disrupting Trump