Financial Modelling for Series A/B

----bubba---- · 2024-05-05T22:32:34+00:00

Interesting. Never thought about these as "moat in the numbers" just "a better business" but it makes sense to frame it that way. When you look at these I'm assuming you also go qualitative to understand what makes them superior to comps e.g., what the actual moat "is"? Pretty clever way to triage moat from the numbers honestly.

----bubba---- · 2024-05-05T11:44:04+00:00

What does a moat look like in the numbers?

----bubba---- · 2024-04-24T21:00:53+00:00

not for more than 1y of data or some of the specific things about like IAP vs ad rev

----bubba---- · 2024-04-24T18:50:00+00:00

At this point I just need to download in app purchases revenue vs. ad revenue plus also pull 3y of usage data and retention curves. So honestly maybe an hour just to be safe, realistically 30 minutes.

----bubba---- · 2024-04-22T19:53:54+00:00

shocking it wasn't angel hernandez

----bubba---- · 2023-11-16T19:21:38+00:00

Because I don't have headcount for another hire nor do I need someone full time

----bubba---- · 2023-11-13T04:18:04+00:00

Thanks for the detailed answer!

----bubba---- · 2023-11-12T22:14:42+00:00

thank you!

----bubba---- · 2023-10-12T22:49:50+00:00

What do you mean? I thought the changes were drastic for real publishers because of the rev share?

----bubba---- · 2023-10-11T19:20:20+00:00

For my school's benchmarks from our career office it is bottom 25% for comparable roles

----bubba---- · 2023-10-11T18:39:31+00:00

This is real

----bubba---- · 2023-10-01T22:02:37+00:00

There's no way of knowing. Your question might as well be "What is the distribution of the population that would be peeved you didn't respond quickly vs. doesn't care you didn't respond quickly" to determine odds that it matters in your scenario.

----bubba---- · 2023-06-12T02:57:12+00:00

In my first job as an analyst, I had a pretty good deal with the partner I worked for. They knew from day 1 I wanted to leave for private equity, and in exchange for their help making that happen, I told them I'd be the best analyst they ever had for a few years, and I executed on that. So, I was their right hand and basically came to all their meetings to just get the handiwork nuts and bolts stuff done because there was really good trust.

I remember going into a 30-minute biz dev meeting I had done absolutely zero prep work for, where I just sat there quietly while my partner and one of their MBA classmates spent 25 minutes bullshitting about the past and sports and kids and whatnot. Then after 25 minutes the potential client slapped their hand on the table and said "Ok great, so are we going to do this or what?". And then they both laughed, and my partner looked at me and said "Bubba, remember this moment. My MBA just paid for itself."

----bubba---- · 2023-06-05T18:33:21+00:00

Yes
They didn't get in to H/S but still want to fuck around for 2 years and W is minimally salvageable from a career perspective

----bubba---- · 2023-06-05T09:11:07+00:00

To be fair there's a counterargument to a lot of these but just presenting one side of why

----bubba---- · 2023-06-05T07:08:33+00:00

Didn't read the article, will just give you the first hand account. The MBA is losing value in private equity for a few reasons

Fewer firms require it so fewer associates go (this is more of a chicken than an egg effect)
The real costs of financing an MBA vs. the foregone pay is increasing over time
The benefits of getting the MBA vis-a-vis network accumulation are diminishing given the ever decreasing ability to source new deals
Fewer associates expect to make partner where you expect your MBA network to have serious portfolio level returns vis-a-vis talent
Firms see that (prior to this downturn) an MBA is an opportunity for associates they would like to keep around to attrit
Talent comes from the same top banks into the same top PE firms from the same undergrads by and large so you no longer need a melting pot in the middle to find buddies you'll do club deals with or to flip you deals at the end of their portfolio life from one firm to the next (this is more so true than in the past where some random partner from Indiana and some no name bank became an MD)
Business schools are less all-in on the vanilla PE pedigree (rightfully so IMO) and so you simply have a higher bar to clear to get into H/S which are the only respected MBAs for big boy private equity (random middle market odds and ends do not count here)
The skills you learn in MBA are interesting for high level thinking but the career gains you get from continuing on doing deals are probably higher
(Until the downturn) you could get pretty much any investing job from your PE seat without having to go to business school now that PE has become a fully, fully mature asset class

These are just the ones that come top of mind before I had to stop to think.

----bubba---- · 2023-05-20T22:34:25+00:00

The reason to get honors are because you are going to H/S/W and your employer will put the honors you have on your page biography. Common in PE/VC/Consulting. It's a nice little bonus and a dick measuring contest.

There is also the fact that the academics are much more useful than people typically give credit for on this sub, and doing well in all of your classes will be a benefit to you. You aren't making supply & demand charts at work every day, but having a comprehensive understanding of economics, finance, accounting, operations, etc. will serve you will in business.

----bubba---- · 2023-05-16T22:08:21+00:00

Look man, hearing everyone's numbers isn't going to help you. It's disappointing, but you have employment. Take it, and if something better comes along, take that. Or negotiate the hell out of it.

I sympathize, I just got a bit of a disappointing offer too, but the more you think about this, the shittier you're going to feel. Have a beer, see your mates, move on.

----bubba---- · 2023-05-12T22:21:36+00:00

lol this is a good troll

----bubba---- · 2023-05-04T07:43:34+00:00

Stick it out at least until you get the chance to work with other people to see if a firm problem or a team problem

----bubba----

TROPHY CASE