Musings on Markets

APRIL 21, 2022

In the years since, those user numbers have grown, as can be seen in the chart below: In keeping with disclosure practices at other user-based companies, in 2017, Twitter also started tracking and reporting the users who were most active on its platform, by looking at daily usage, and counting daily active users (DAU). The Musk Entree!

Start-ups 99

Start-ups Marketability Technology Market Capitalization 99

Musings on Markets

DECEMBER 2, 2020

While the concept was heavily promoted, it has been slow to take off, with only $10 million in sales in 2017, but Airbnb has not given up, hiring Catherine Powell, a Disney theme park executive in 2020, to revamp the business. The other is the target operating margin, in 2031, with higher margins translating into higher value.

Start-ups 52

Start-ups Marketability Equity Market Capitalization 52

Musings on Markets

NOVEMBER 4, 2022

Investors, used to a decade of better-than-expected earnings and rising stock prices at these companies, have been blindsided by unexpected bad news in earnings reports, and have knocked down the market capitalization of these companies by hundreds of billions of dollars in the last few weeks.

Start-ups 98

Start-ups Market Capitalization Marketability Dividends 98

Musings on Markets

DECEMBER 10, 2021

I think Uber dodged the bullet in 2017, when t hey decided not to hire Jeff Immelt as CEO for the company. A Hiring Mistake : The first is that the board of directors for a company seeking a new CEO hires someone who is viewed by many as a successful CEO, but whose success came at a company at a very different stage in its life cycle.

Start-ups 83

Start-ups Marketability Technology Market Capitalization 83

Musings on Markets

APRIL 20, 2021

I will begin by laying out the pathways through which corporate taxes affect company value, and then looking at how the 2017 tax reform act, which lowered the federal tax rate from 35% to 21%, has affected corporate behavior. In a more telling statistic, the dollar value of taxes paid increased between 2017 and 2019 by 1.4%

Start-ups 52

Start-ups Debt Financing Finance Equity 52

Musings on Markets

NOVEMBER 1, 2023

To deliver this growth, I did assume that Tesla would have to invest large amounts of capital in capacity, and that this would create a significant drag on value, resulting in a equity value of just under $10 billion.

Start-ups 114

Start-ups Marketability Market Capitalization Equity 114

Reynolds Holding

NOVEMBER 15, 2022

Charges against audit firm CohnReznick LLP for improper professional conduct on engagements for two clients in 2017. million in municipal bonds across two offerings in 2017 and 2018. A litigated matter charging Vale S.A. , Regulated entities and associated individuals. Foreign Corrupt Practices Act.

Compliance 45

Compliance Marketability Technology Alpha 45

Musings on Markets

OCTOBER 4, 2021

In 2017 it added Paytm Gold , allowing users to buy gold in quantities as little as 1 rupee, and Paytm Payments Bank , a messaging platform with in-Chat payments. In 2018, it added a Paytm Money , for investment and wealth management, and in 2019, it launched a Paytm for Business app for merchants to track payments.

Start-ups 72

Start-ups Banking Marketability Technology 72

Musings on Markets

SEPTEMBER 1, 2021

In the graph below, I plot the market capitalization of Chinese listed companies, in dollar terms, and as a percent of market capitalization of all global companies: World Bank Database Chinese equities have risen from a negligible share of global market capitalization, in 2000, to more than 10% of global market capitalization, in 2020.

Market Capitalization 98

Market Capitalization Marketability Start-ups Technology 98

Musings on Markets

OCTOBER 25, 2022

Since a business can raise capital from owners (equity) and lenders (debt), the free cash flows that you compute can be to just the equity investors in the business, in which case it is free cash flow to equity , or to all capital providers in the business, as free cash flow to the firm.

Dividends 92

Dividends EBITDA Equity Start-ups 92