Consumers, conditioned by heavy promotion and by habit, did not bolt even as prices of some of their favorite soaps and cereals increased by 5% or 8% a year. And so profits increased much faster than that. Heinz's earnings climbed by an average of 13% a year during the past decade, Clorox's by 15%. Their shareholders and owners reaped a treasure.
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The number one thing I've learned is that investors invest in people, not ideas. You can have the best idea in the world, but if people don't trust you, don't believe in you, and don't think you can execute, they're not going to give you money.
John Kim — Invest Like the Best with Patrick O'Shaughnessy
You have a $50 billion company printing 5.5 billion in free cash flow. You can use a lot to finance debt, obviously, which is what's proposed here. Uh 400 million uh consumer accounts. So, lots of consumers have PayPal accounts, have Venmo accounts. Maybe they're not fully active, but they're ready to be engaged. It's a huge footprint and huge distribution mechanism. Uh, and they have bank info attached. That's difficult. You can't get that from many other consumer applications.
Diet TBPN
The thing that's really interesting about transformers is that the model architecture is essentially fixed. The operations that transformers do are the same whether you're running GPT-4 or any other large language model — it's always matrix multiplications and attention. And if you build a chip that only does those operations, you can make it much faster and much cheaper than a general-purpose GPU.
Invest Like the Best with Patrick O'Shaughnessy