I spoke to 5 global enterprises about remote work last week

Here’s what they told me about their plans for the future

[ a thread ] 💻🏠🌎

💰 Office space: All of them have $Billion real estate portfolios

All of them plan to cut it by atleast 50% and as much as 70%

📍 Talent Access: The thing they are most interested in is access to talent

Rather than hiring the best person in a 30-mile radius of the office, they’ll hire the best person on the planet

📈 Efficiency: Their concern about remote work post-pandemic was that productivity would slip

It’s increased. They now know remote work works

🤔 Remote Dilemma: A big concern is losing their best people through not giving their teams what they want

Each company plans to let people work from home 60-100% of the time

SoFi was founded in 2011 by 4 students who met at Stanford

🎓 The goal was to decrease the student debt burden by giving out lower rates than federal standards

💸 SoFi’s rates ranged from 5.99% to 6.5%, undercutting federal and privates rates which ranged from 6.8% to 16%

By September 2012, SoFi was reported to have commit over $ 200m in loans

📈 This increased to $ 450m by April 2014 and its borrowers reportedly got on average $ 9,400 in savings by refinancing their

💸 Today, SoFi wants to help its customers with every “financial” step of their journey, providing:

· Student loans

· Medical loans

· Home loans

· Renters insurance (powered by $LMND)

· ETFs

· Stocks & cryptos

· Credit card

· Auto insurance (powered by $ROOT)

& more!

⏱ It has also understood that time-pressed and convenience-seeking young professionals value the following elements:

· Speed

· Choice

· Content

· Education

And $SOFI thus turned itself into a convenient, affordable, transparent and user-friendly financial platform

This means that SoFi’s wants to be a “one-stop-shop” for its users

💸 Enabling it to cross-sell its different products and reduce its Customer Acquisition Cost

The early Disney company had several near-death experiences, some due to exogenous shocks and some self-inflicted (bad labor practices, weird technology choices), and all through it, a power struggle between "Roy people" (finance) and "Walt people" (tech/art).

1/

After WWII, the company was transformed, with Roy ascendant and financial discipline the order of the day. Walt - who struggled with depression - sought desperately for an escape from the company.

2/

He came up with plans to outfit a train with traveling exhibits that he would drive around the country, putting thousands of miles between him and his brother.

3/

Another plan called for Walt to build an ambitious model train system and transform his role in the company to showing people around his trains.

4/

In 1953, Walt came up with the plan that stuck: a park called "Disneyland" that would be his own fiefdom, a commercial project that would justify the kinds of R&D and experimentation that Walt doted on and Roy looked on as high-risk, potentially ruinous follies.

5/

Sources : This author has been continuously maintaining that the Brahminical hegemonic forces are surrounding Tamil Nadu from all sides and they are seeking revenge for Periyar’s social justice.

One Sridhar Vembhu, @svembu is the CEO of Zoho Corporation. He is 1/n

High Net Worth individual. He is the founder and CEO of Zoho Corporation. According to Forbes, he is the 59th richest Indian in the world with a net worth of US$2.5 billion as of 2020

Vembu runs the in-house Zoho University, which provides training to students who have 2/n

completed 12th grade and have certain math and tech skills.
Vembu has a Ph.D. in electrical engineering from Princeton and started his career at Qualcomm in 1994. Zoho is building a new 375-acre campus in Austin, Texas, which will also house its Zoho University. 3/n

Recently, he announced the release of a new Messaging App called “Arattai” and said this is an alternate to WhatsApp.

Vembhu owns a palatial house in Pleasanton California. With such huge money and wealth, the said Vembhu is purchased 4 acres land in Mathalamparai, Tenkasi under the guise of improving villages. In an interview to Forbes India, the said Vembhu had this to say 5/n

What do the Atlantic, Business Insider, Vox, Salon, Slate, BuzzFeed, Washington Post, New York Times have in common? They've all knowingly published lies about me over the past four years. There's zero honesty or accountability in journalism. We're going to change that in 2021.

I'm in a unique position to know just how dishonest the mainstream media is, because I've read lies about myself in so many major news outlets. I know who the bullshitters are, on the left and right, because they've all targeted me to try to score cheap points.

I have a hard time trusting anything that's reported the mainstream political media, because I've read lies about myself most of the major publications publications, thus forcing me to question what all else they might be lying about. It's a really creepy position to be in.

What's even more disturbing is how few people truly know how dishonest the mainstream political media is. If it's from a big name publication, they just believe it. That's because they haven't read lies about themselves in those news outlets, like I have. It's eye opening.

I'm not even talking about misinformation. I'm talking about outright and intentional lies that major publications made up about me for competitive reasons, because they were worried Palmer Report was getting too big, and didn't want the competition. Truly evil tactics.

@HDFCLIFE #Q3marketupdates #Q3investorpresentations

Mkt share up 214 bps to 16.4%
NBM at 25.6%
8% Individual WRP growth compared to private industry de-growth of 6%
25.6% New Business Margin on the back of growth, balanced product mix

17% growth in Protection (Indl) and 42% growth in Annuity in APE terms
22% growth in renewal premium with stable persistency
PAT of Rs 1,042 Cr, with growth of 6%
Solvency healthy at 202%

Pvt mkt share rank up to 2,gain 214 bps 14.3 to 16.4%
Balanced product mix %
Savings 35
Non participating savings 30
Ulips 23
Protection 7
Annuity 5

Distribution 300+ partners

AUM 31Dec 20
1.7 lkh cr
Debt:equity mix 64:36
98% debt in Gsecs & AAA

Renewal premium growth 22%

NBM 25.6%
PAT 10.4 bn,up 6%
Solvency ratio 202%
42 % growth in annuity business

NBM %
2019 24.6
2020 25.9
9 months fy21 25.6

Strong partner ships
Hdfc bank ,Yes ,RBL , pnb housing ,Idfc 1st
etc

Sustained growth in Individual protection %
2018 2.5
9mnth fy21 3

NPS - #1 with AUM 139 bn amongst pvt players ,strong growth AUM 9mnths 81%

26000 lives covered in 9mnths Fy21

5 building blocks
Insta suite
InstaInsure
Online payments & services
AI ,Big data ,Cloud
Life 99

HDFC Life Concall was today at 5.15 pm

Here are the key highlights of the Conference call 😀👇

@dmuthuk @datta_arvind @Vivek_Investor @connectgurmeet @Prakashplutus

Business Updates:

• Continue to see pickup in saving business.
• Growth is there both in volume of policy and increase in ticket size.
• Market share remained increasing at 27% and is increasing gradually.
• Solvency Ration remained at 202%.

• Bank Assurance Channel has grown 22%. Agency Channel continuous to gain growth. HDFC Bank remained growth drive.
• Company is continuously partnering with new channel partners.
• Risk Management has been constantly watched and remained on track.

• Product Mix across key channels shown is growth gradually.

New Scheme Launches: Company has yesterday launched new health plan with add on features.

Tax:
• Tax is now no longer a reason for the people to buy insurance, as customer perspective towards Insurance is improving.

Saving
• Savings have been coming back to the growth target.
• People during the covid and post covid is continuing the saving plan.

Thread: MyPillow CEO and right-wing fixture Mike Lindell explained his White House visit with right-wing radio host Eric Metaxas (who tweeted hashtag martial law in support of Lindell).

The interview had deranged conspiracy theories, justifications of violence, and more.

The interview starts with Metaxas touting Lindell’s supposed “genuine evidence” of foreign election fraud. Lindell says it came out “ten days ago” on Twitter and starts explaining the conspiracy theory.

Lindell then clarifies that his source for this debunked lie is a conspiracy theory website. Lindell claims Trump won by 11 million votes (he did not).

Lindell lists some countries that he says were involved (China, Iran, Iraq) and then goes into the “algorithms broke” spiel that we’ve heard from Sidney Powell.

Lindell talks about some sort of apparently digital “wheel” that he says was used by foreign countries to change election results. It doesn’t make a lot of sense.

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In light of the recent events involving the owners of #Cannoli and their manager,
we at the Centre for Labour Research (CLR), in the interest of protecting the
fundamental human #right to #dignity, condemn any and all forms of #harassment.

2/12
The viral video in which the owners of Cannoli are seen singling out and
humiliating their manager due to his inability to speak the colonisers language for
their entertainment depicts a form of #workplaceharassment. Such behaviour is
unacceptable.

3/12
It is the responsibility of the employer to ensure that each and every employee,
regardless of their #employment status, the sector of employment, or their
occupation feel safe, respected and included at the workplace.

4/12
As entrusted in the Universal Declaration of Human Rights, the International
Covenant on Economic, Social and Cultural Rights and article 14 of the Constitution
of Pakistan with regard to the inviolability of the dignity of a person,

5/12
#CLR recommends all #labour legislation explicitly prohibit harassment to
ensure promotion of decent work in relation to education, language,
socio-economic status, race, gender, sex, age, colour, caste, domicile, religion, creed, political opinion and disability.

A thread on how real estate investors, developers and operators can make millions a year and pay almost nothing in TAXES by using depreciation, bonus depreciation, and 1031 exchanges.

How it works:

Depreciation is the act of slowly, over time, deducting the initial expense of an asset against your taxable income. Generally over a 27.5 (residential) or 39 (commercial) yr time frame. So each year you can write off 2-3.6% of the purchase price against your income.

Thats a big deal. We're buying a new property, a $3MM self storage facility. Thats a $60k a year write off against about $260k in NOI and 200k in cashflow on a $3MM deal.

It makes 30% of our cashflow tax free.

Very powerful but there is much more to it...

Different parts of the asset can be depreciated on different schedules.

We'll have a cost segregation study done to split up the depreciable lifespan of different parts of the building. The raw land can't be depreciated so you have to give that a value.

But other items can be depreciated on a quicker timeline. A roof, road, sidewalk, fencing, walls, gates, doors, latches, flooring, air conditioners, pavers, curbing, landscaping, etc.

The IRS has a depreciation schedule for each type. Some parts are 5 yrs. Others 15 years...

1/n
How we think about commercial property management:
1) Asset management
2) Property management
3) Operations
4) Accounting
5) Leasing

All functions are necessary and may be combined in many situations, but it's important to distinguish for clarity of thought.

2/n
Asset management: evaluating the long term investment of the property. IRR from purchase to sale, capital improvements (as necessary; you can over- and under-spend here leading to suboptimal returns), and strategic vision (i.e. bldg class) tying it all together.

3/n
Property management: understanding the physical asset. Overlaps w/ asset mgmt on, e.g., HVAC or roof CapEx. Fire/life safety regulations, ADA compliance, landscaping to draw tenants (but don't spend unnecessary $), dealing with water leaks or squatters, etc.

4/n
Operations: often thought of as property management too, but we distinguish. The blocking and tackling. Inbound issue (mostly tenants, sometimes from owners, etc.) and outbound solution (provided by us, vendors, etc.). A high volume activity -> different skills than PM.

5/n
Accounting: the most straight forward in the traditional sense. We don't do CPA work because we are 3rd party and the building is usually a small slice of an owner's tax picture. Efficient and accurate accounting w/ high importance for CAM accts and reconciliations.

Big Jason is just sitting in the office kitchen, stirring a cold cup of coffee and staring out the window. He's been like that for 35 minutes.
Sometimes he mutters things like "we're the party of fiscal responsibility" or "who else can we fire"
We're gonna try and help
#ableg

We sent in ol' Miranda, and she tried to tell him that the worst of our scandals is behind us, but he didn't seem to hear her.

We tried to send in ol' Adriana, but she refused, saying that she brings no value by visiting him. No one could disagree!

We sent in Really Big Jason, who told Big Jason that yes there have been a lot of rumours about our incompetence, but that we resolved 0.02% of them. That didn't seem to help.

Ol' Leela went in to try and talk some sense into him but it backfired. Now she's sitting behind him repeating every thing he says and then drawing emojis in the dust on the table.

Ray Kroc died in 1984. That year, McDonald's made $9.5 billion in revenue.

Personal net worth? $600 million, about $1.5 billion today.

Kroc grew McDonald's into a brand everyone in the world recognizes, and he started with just one question...

Time for a thread! 👇👇👇

In 1954, Ray was a milkshake salesman. Business wasn't exactly booming.

One day, he called his secretary from the road. To his surprise, someone had ordered six five-milkshake mixers.

Who needed to mix 30 milkshakes at a time?

Ray thought: "What if that's wrong?"

He called the restaurant. The owner was terse.

"What? Six mixers? Yes, that's us. Actually, make it eight! Gotta go!"

Now, Ray was even more confused.

Once again, he thought: "What if that's wrong?"

He decided to drive to the place himself. After a 26-hour drive, he got to San Bernardino.

What he saw was a long queue and people standing around in the parking lot, munching on their burgers.

When he got the front window, Ray ordered a burger, a Coke, and fries.

The cashier returned the food right with his change.

Ray said: "No no, that's wrong! I just ordered!"

And the cashier said: "Yeah, and now, you're food is here."

How can the wine industry shift its message and approach to reach Millennials, given shifting generational values?

If you want to reach a diverse audience, you have to hire a team that looks like it. "The good part of this is you have a consumer that wants your product. If you don't have people who are of that community, you're not going to sell to them." @SVBWine

When a person of color comes into your TR, they want to know they're going to be treated with respect. "Its Civility 101. It's not really very complicated." Devin Joshua @DJVino

Younger consumers are making the most effort to reduce alcohol consumption.

From Nielsen, top reasons for cutting back on wine center on health. "How do we [address] that in the wine business? We're still talking about long days and cool nights on back labels." Need to take this head on and address calories, e.g. Calories matter to consumers. @SVBWine

🧵While we in Fintech are Hoping for Challenger/Neo Banking Licences from RBI. Let's understand more about Small Finance Bank and from their success, try to see if a balance between Profitability (for business) and Financial Inclusion (for RBI) can be made for future usecase?👇

Since Independence, Financial Inclusion has been a top policy agenda for the central govt and hence for the RBI also, Post 90s, the accent was more on demand-led private initiatives through self-help groups, followed by the Grameen Bank model of microfinance in India.

Then, in 2015, the RBI granted licenses to two differentiated banks (SFB and Payments Banks) for pushing the financial inclusion. PB had been a mystery category, with no clear business model to operate. SFB was to cater to the diverse needs of the low-income group.

The two KEY expectation was:
1. Priority Sector Lending (75% of their total lending) and 2. Branches for Unbanked (SFB were required to have 25% of their branches in rural unbanked centres (population shall be less than 10,000)

Most (8/10) of the SFBs were previously microfinance institutions (MFIs) with a few notable exceptions, such as the Capital Small Finance Bank which was a local area bank. So, achieving the above TWO pointers was not a thought ask for them.

Are you on this list and backing @SMcPartland and @Royston_Smith's amendment to the Fire Safety Bill? Please support our campaign so leaseholders do not have to pay for historic defects. You are ruining lives:
@RobertJenrick @mhclg @ChrisPincher

#EndOurCladdingScandal

@AaronBell4NUL
@AdamAfriyie
@AlanMakMP
@AlbertoCostaMP
@AlecShelbrooke
@alexburghart
@AlexChalkChelt
@Alex_Stafford
@aliciakearns
@AlokSharma_RDG
@AlunCairns
@amandamilling
@ASollowayUK
@andreajenkyns
@andrealeadsom
@AndrewBowie_MP
@ABridgen
@griffitha
@AJonesMP
@ALewerMBE

1/n Reliance Industries Ltd announces results for Q3 & 9m FY2020-21. Details follow… #RILresults

2/n Q3 FY2020-21 Reliance reports strong sequential rebound across all the businesses #RILresults

3/n Reliance posts highest ever consolidated quarterly Net Profit; Q3 FY2020-21 PAT at Rs 15,015 crore, up 24.9% (Excluding EO) #RILresults

4/n Q3 FY2020-21 Consolidated quarterly EBITDA up 12.0% Q-o-Q to a record Rs 26,094 crore #RILresults

5/n Q3 FY2020-21 Strong 38.2% sequential jump in quarterly EPS to Rs 20.5 per share (Excluding EO) #RILresults

We need to do now what we should have done last Spring: shut it all down, provide funds to support people & businesses thru closure and—here’s the key—USE THE TIME TO IMPLEMENT GOOD RESPONSE. That means: better testing & vaccine logistics, ventilation in schools & workplaces...

...improved production & distribution of N95 masks for everyone, improve internet access to allow wfh & school from home for those who *can* continue with that, safe opening plans for every type of workplace, universal paid quarantine & sick leave, open up parks & beaches...

...public health educational campaigns that teach everyone the basics of how viruses work (and while we’re at it, lets add some bacterial info to combat overuse of antibiotics), extended eviction moratoriums, actual oversight & accountability for workplace safety...

...basic income + increased minimum wage, authorization for expanded roles for nurse practitioners, expanded authorization for vaccination delivery by dentists, authorize telemedicine across state borders so students & others can continue to access care while not on campus...

...national COVID information hotline to help combat misinformation, permanently expanded public health workforce at federal & state & local levels, a coordinated set of COVID research priorities to answer important unknowns and a rolling rapid COVID funding application system...