June ‘24 recap

Articles I read, podcasts I listened to, and some stuff I wrote in June.

Articles:

1. Magma Partners Q1 2024 Investor Letter

   • Our public investment letter for Q1 of this year.

2. The Self-Checkout Revolution | WSJ

   • How the US implemented barcodes in supermarkets in 1974 and new laws that are trying to limit the growth self-checkout in some states.

3. A closer look at Michael Jordan's 1988 DPOY award raises questions about its validity. Has LeBron James been chasing a ghost? | Tom Haberstroh

   • Long read about how common it was for NBA stats keepers in the 90s and before to juice the stats (namely blocks, steals and assists) for the home teams.

4. NBA Nears $76 Billion TV Deal, a Defining Moment for Media and Sports | WSJ

   • The NBA is closing in on deals with NBC, ESPN and Amazon that would bring in about $76 billion in media revenue over 11 years

   • NBC will pay $2.5 billion for 100 games per season, half on Peacock. Amazon will pay $1.8 billion per year, and Disney will keep the NBA finals and pay $2.6 billion annually, up from the $1.5 billion they’re paying now.

5. How to be an effective early stage employee | Daniel Debow

   • tips for how to become a top level “GPSM” (general purpose smart guy/gal)

6. Visa, Plaid, Networks, and Jobs | Stratechery

   • I went back and read this Ben Thompson article from 2020 after Visa thought they were going to acquire Plaid. The deal was abandoned after the DOJ filed a lawsuit claiming the acquisition would stifle competition. That said, I enjoyed the article because I learned about the beginning of the credit card industry in the US.

   • Credit Cards were launched by Bank of America in 1958 under the name “Bank Americards.” Bank Americards eventuallly spun out to be Visa.

   • BofA launched 60,000 Bank Americards in Fresno, CA in 1958. They planned to charge merchants 6% of sales. Despite no initial network value, smaller merchants joined first, attracted by the potential of 60,000 cardholders eager to spend their new credit cards. The other positive externalities for merchants was that accepting credit cards meant they didn't have to extend credit, collect payments, handle excess cash, or manage back-office tasks.

7. Flex Report | Scoop

   • Report on in person, remote, and flexible work in the US

Podcasts:

1. Lessons in Unreasonable Hospitality with Will Guidara | This week in startups

   • One of my favorite books from this year is Unreasonable Hospitality. I recommend the book, but this podcast is a good primer.

2. How & Why to Strengthen Your Heart & Cardiovascular Fitness | Andy Galpin

   • Some basics on how the heart works and different ways to measure and improve cardiovascular health

Some stuff I wrote over the last few months

1. People debt and HR debt: what they are and when should you pay them off? | Magma Blog

2. Precruiting: Simple steps to help source the right candidates for your startup | Magma Blog

3. How to write great a job description that makes top talent want to work with you | Magma Blog