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That’s a worse confession. I’m sure PG can read an income statement just fine and likely used his to sell ViaWeb. Looking at things like Uber, though, they’re
by projektfu 5y ago
That’s a worse confession. I’m sure PG can read an income statement just fine and likely used his to sell ViaWeb.
Looking at things like Uber, though, they’re coming up with ways of making these basic reports harder to read critically. It reminds me of the pre-SEC financials covered in “Security Analysis” by Benjamin Graham. Companies claimed all sorts of things, especially treating one-time events as operating revenue, and toed the line of fraud.
- projektfu 5y agoTo be fair, I once heard Richard Branson on the radio telling a story that he was pretty far along in building his empire when he had to be taught the difference between gross revenue and operating profit. I found it hard to believe but there’s other interesting facts out there, like David Boies is dyslexic and prefers not to read.