Liberty

https://www.amazon.com/Four-Hidden-Amazon-Facebook-Google/dp/0735213658 Started reading this. I've enjoyed some of Galloway's podcast interviews and youtube videos. He's entertaining and at time he has some good high-level insights on the big tech companies and how the landscape is changing. I'm a few dozen pages in and so far I do wish there was more depth to it. There's lots of soundbites and surface level platitudes about human psychology and how evolution shaped us, or a bunch of one paragraph histories of various retail formats. I think his style might translate better to short videos than books, but that's a very early impression. Maybe I'll do a 180 degree a few chapters in...

Heresy ;D "Courage"

https://www.nbcnews.com/business/autos/gm-going-all-electric-will-ditch-gas-diesel-powered-cars-n806806

As per usual, Tesla will be late on its own super-ambitious self-imposed deadlines, so all the shorts will go "see, I was right!". But it'll eventually do what it said it'd do (just late), and the bull will go "they did it again". The cycle repeats again and again. As someone who cares about the tech and not the stock, I couldn't care less about them missing their deadlines, I just want them to keep pushing the industry forward and make cool EVs that people actually want to buy, something they've done better than anyone else.

“Volaris Group Welcomes Edumate to Education Vertical” http://www.marketwired.com/press-release/volaris-group-welcomes-edumate-to-education-vertical-2235755.htm

https://www.aboveavalon.com/notes/2017/10/3/iphone-courage

https://stratechery.com/2017/trustworthy-networking/ Most of the post is about Facebook's reaction to the Russian ads issue.

Sounds like you got a defective unit.

http://www.yetanothervalueblog.com/2017/10/still-bullish-on-charter-chtr.html

Barron's has a piece on LILA: http://www.barrons.com/articles/blue-skies-ahead-for-malones-lilac-group-1506743163

Lower prices means more demand too. Lots of projects that wouldn't make sense with a 100m launch might make sense with a 10m launch, for example. And once you start building bases on the moon and creating staging areas for interplanetary travel for a lot of mass, the number of launches go up really quickly... But I don't think he cares, he just wants to do his part to push the space sector forward. If it means not optimizing the economics perfectly, ¯\_(ツ)_/¯

“Volaris Group announced that it has completed its sixth acquisition in the Communications vertical“ http://www.marketwired.com/press-release/volaris-group-expands-position-communications-vertical-with-acquisition-mdm-kaas-assets-2235582.htm

Updated Mars plans: http://www.spacex.com/mars https://www.nytimes.com/2017/09/28/science/elon-musk-mars.html It's really worth watching this video and seeing it all from the primary source: (You can watch at 1.5x speed if you're in a hurry, it's still very understandable)

I remember him publicly shorting Netflix and Reed Hasting writing a public letter convincing him to drop the short... Not sure how much that hurt him..

https://www.bloomberg.com/news/articles/2017-09-28/tesla-is-sending-battery-packs-to-storm-ravaged-puerto-rico

Post on V and MA (sub required): https://www.scuttleblurb.com/visa-v-mastercard-ma-expanding-the-rails/

This seems to be a widely shared view: https://twitter.com/AlexRubalcava/status/913428918526447619 (thread)

https://www.cnbc.com/2017/09/28/whitney-tilson-is-shutting-down-his-hedge-fund-report.html

https://www.bloomberg.com/graphics/2017-john-malone/ Breaking Down John Malone’s Investments, Company by Company (graph: left is stake size, right is voting power)

Amazon has announced some new hardware today: http://phx.corporate-ir.net/phoenix.zhtml?c=176060&p=irol-newsArticle&ID=2303267 http://phx.corporate-ir.net/phoenix.zhtml?c=176060&p=irol-newsArticle&ID=2303268 http://phx.corporate-ir.net/phoenix.zhtml?c=176060&p=irol-newsArticle&ID=2303270

There's an interplay between these things. In high-fixed costs businesses, scale has a lot to do with whether you eventually make a profit or not. The scaled low cost provider get better deals from suppliers, attracts more customers, and gets operating leverage out of its expensive assets with higher inventory velocity. So they try to gain scale to make profits. But then they reinvest those profits into new startups elsewhere, so it doesn't show on the aggregate numbers just yet.

More info about how Face ID works: https://www.theverge.com/2017/9/27/16373710/face-id-iphone-x-apple-facial-recognition-impostor https://www.imore.com/face-id Here's the Apple white paper on it: https://images.apple.com/business/docs/FaceID_Security_Guide.pdf

Podcast on blockchain and cryptocurrencies: http://investorfieldguide.com/hashpower/

It's a concern, though it's a general concern, not a specific concern (ie. it's general to any company that redeploys capital by M&A, not specific to this company). The only thing you can do is monitor their acquisitions and make sure they don't lose their discipline. If you read the transcripts, they usually break out the organic growth, including by division.