In your podcast players now!
Tomorrow.
Toy Story was my favorite movie as a kid. Posters, action figures, the whole deal. My mom texted me this photo tonight. I forgot how much I had been dying to meet Woody and Buzz when our family went to Disney World in '95. All I cared about the whole trip.
Tomorrow, my wife and I are taking our son (2.5) to see Toy Story 5. It'll be his first movie in theaters. It feels so surreal. Full circle.
The kid loves Toy Story more than I ever did. It's all he ever wants to watch, and he cackles his way through the first four films. It's the best sound in the world to hear. Almost makes me cry thinking about that chuckle as I type this.
Happy Father's Day everyone. Parenthood is hard, but it's also the best thing ever. To infinity and beyond.
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Next week's episode... Disney :)
Excerpt in the @WSJ now:
Doing a little hands-on prep for our next episode...
It's crazy my brain has a subconscious place for "don't copy anything, you already have something important copied but not pasted yet."
We're experimenting with a PDF companion for each episode — tables, charts, timelines, etc.
Here's our first one for Vanguard. Let us know what you think!
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We're coming to NYC this month. In conversation with the one and only @btaylor. Hope to see you there :)
In case you woke up this morning, saw people on the internet yelling at each other, and thought "jeez, why is the Luce so controversial for all the Ferrari die-hards?"
Dithering is my favorite podcast. I listen to every episode.
I've been reading @daringfireball for over 20 years. @djrosent and I first bonded over sending each other @stratechery articles in 2014.
This is unbelievably cool and a complete surprise when I woke up this morning.
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Acquired the Podcast
John discovers a new podcast and an innovative business model.
Subscribe at
Now that's a TAM slide right there.
I love how heavily @SpaceX leaned into photography in their S-1. The first 15 pages are all pictures, many of which have no explanation at all.
It just makes you... feel.
Astonishing stats on drawdowns from @APNavaratnam:
In the new @AcquiredFM episode on Vanguard, @gilbert, @djrosent cited our research on companies that have 100x'd since IPO.
These are history's best stocks, with a 533x avg return. The basket includes Microsoft, Amazon, Costco, etc.
Yet the experience of owning them ain't easy.
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Vanguard is the largest shareholder of most companies in the S&P 500.
Here's their stake in the largest 10:
Vanguard has directly saved investors $500 billion in fees since 1975.
And it's all because of their unique structure: they have no shareholders (besides their customers!), so they have no need to generate profits.
Our latest episode, in your podcast players now.
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In your podcast players now.
Tomorrow.
"Do not allow the tyranny of compounding costs to overwhelm the magic of compounding returns."
-Jack Bogle
Fun news from Acquired HQ: we will now be writing a regular column in the @WSJ with an excerpt from each new episode.
This Friday. Stay tuned.
