Thoughts on CFO Gary Swidler? To me capital allocation weakness falls squarely in his court. Would like to hear a more nuanced process defined for allocating FCF to debt reduction v share buybacks (i.e. valuation centric - based on company valuation level, x% of FCF will be applied to buybacks and y% towards debt reduction).
Additionally the excuses almost exclusively came from Gary in Q&A. I get the sense that blaming macro is a cover for not deeply understanding the initiatives which directly tie to KPIs. Personally a fan of BK. While it's likely difficult to know the interworking of each app across the portfolio, I would personally like a new CFO who more deeply understands the growth drivers for Tinder + Hinge (and could speak to how initiatives will drive KPIs).
Great information as always.Would love to see a bit more detail on your portfolio such as purchase cost,date and profit/loss percentage
Thanks for the newsletter Brad. This is the best one out there. Looking forward to it every week!
Thanks for the summary Brad, I appreciate the time and effort this must take you. Keep up the great work
Thoughts on CFO Gary Swidler? To me capital allocation weakness falls squarely in his court. Would like to hear a more nuanced process defined for allocating FCF to debt reduction v share buybacks (i.e. valuation centric - based on company valuation level, x% of FCF will be applied to buybacks and y% towards debt reduction).
Additionally the excuses almost exclusively came from Gary in Q&A. I get the sense that blaming macro is a cover for not deeply understanding the initiatives which directly tie to KPIs. Personally a fan of BK. While it's likely difficult to know the interworking of each app across the portfolio, I would personally like a new CFO who more deeply understands the growth drivers for Tinder + Hinge (and could speak to how initiatives will drive KPIs).
I'm sure you already know this Brad but the amount of detail and data you put out in a week like this is nothing short of exceptional. Respect.