Good news everyone, Jay Hoag gave us the simple 5 point playbook for finding Magical Companies in consumer technology.
1. product offers combo of value, convenience, selection
2. there's tremendous engagement
3. a virtuous cycle
4. tremendous execution
5. kinda crazy leader

More from Business
Here are 10 that are pure gold:
Fund-raising is hard for all of us.
@justinkan shares some unique insights on how to do it well.
I've raised over $150,000,000 as a founder, simply by being a good storyteller.
— Justin Kan (@justinkan) October 20, 2021
Here's how to get VC's to throw money at you:
We rarely hear honest reflections from founders on what they messed up.
@apartovi shares his reflections on a deal that went wrong with Steve Jobs.
As the world celebrated Steve Jobs\u2019s life last week, I recalled a lesson he taught me. My one meeting with Steve didn\u2019t end well. It\u2019s one of my most painful memories, and a warning to startup CEOs about the danger of taking hype too far. Here\u2019s the story. (1/n)
— Ali Partovi (@apartovi) October 10, 2021
Some gems in this thread by @agazdecki on a wide variety of founder
Here's 20 of my top startup tweets... \U0001f9f5
— Andrew Gazdecki (@agazdecki) October 16, 2021
shares some solid principles learned from building a multi-billion dollar business.
Over the last 5 years, I built a $4B company.
— Ryan Breslow \U0001f57a (@ryantakesoff) September 20, 2021
Sounds awesome right?
Not until recently.
I made every mistake imaginable.
The toughest part was getting my head right.
Here are the 12 mindset rules that I\u2019ve developed.
"it doesn't affect me if companies pay low wages"
— Dan Price (@DanPriceSeattle) February 11, 2021
In reality, you're paying for it. Over 50% of people on food stamps are actively working. The leading employers are Walmart, McDonald's and Amazon.
As taxpayers, you're subsidizing corporations to pay literal poverty wages.
A large number of new jobs being created are minimum to low wage, so looking for a new job generally won’t increase pay.
Raising minimum wage helps things not directly related.
Helps Infant mortality? Yup.
Lowers Suicide? Yup.
Reduce smoking rates? You bet.
It also boosts the local economy! Minimum to low wage earners spend more % of their money, so an increase means more is spent, often in community!
Low paying jobs are often in sectors which would gain from this. More people spending money in your shop makes your business more money! Now you have more profits and increased labor costs are covered.