WORKWEEK

Negative & Positive Network Effects There have been two transformative platforms created in the last two decades: TikTok & Facebook. The growth and engagement of both are unprecedented. At its peak, Facebook averaged 58 minutes of usage per user per day. And now, TikTok is averaging 93 minutes of usage per user per day. When…

Advertising and upfronts In the 1960s, ABC pioneered upfronts. The concept was simple: In the spring, give advertisers a glimpse at the new programming launching the following fall, then give them a chance to secure their ad spots for those programs a few months in advance. The upfront time period is full of parties, celebrity…

Advertising has caught investor’s attention  It’s not big new news that advertising-driven businesses have had really crappy multiples on the public markets over the past few years. Did you know you can buy Buzzfeed today for $60M? Yes, just $60M for a business that does $300M+ in revenue.  Buzzfeed’s horrible multiple is a reflection of…

There are plenty of stories about SVB, the banking crisis, and what transpired the last 7 days. It’s safe to say that numerous decisions on the financial front caused SVB to come into a liquidity crisis. But that wasn’t their real downfall. Narrative control The success of commodity businesses is primarily dictated by the perception…