Given that a lot is happening in Q1, we do not expect to be profitable in the first quarter

But I actually think stock and flow is a useful metaphor for media in the 21st century. Here’s what I mean: Flow is the feed. It’s the posts and the tweets. It’s the stream of daily and sub-daily updates that reminds people you exist. Stock is the durable stuff. It’s the content you produce that’s as interesting in two months (or two years) as it is today. It’s what people discover via search. It’s what spreads slowly but surely, building fans over time.

Reorder sales are strong: on a TTM basis, they've risen 21% in just the past two years. But the obvious top-line concern here is that smaller new customer cohorts will pressure reorder sales at some point down the line. And with Chewy Pharmacy launching this summer, competitive pressure for new customers is only going to get more intense going forward.

Reorder sales (which includes any customer who has previously placed an order) rose 10%+. New order sales, however, fell by about the same amount.

It operates a "gray market" business model, in which it acquires inventory indirectly, angering veterinarians and suppliers in the process.

largely irregular purchases

DX Exchange uses Nasdaq’s Financial Information Exchange (FIX) protocol to facilitate trades. Using this platform, DX Exchange allows users to swap tokenized stocks in major global companies, including Amazon, Baidu, Apple, Facebook, Google, Intel, Microsoft, Netflix, Nvidia, and Tesla. All of these companies will be available for trading on the platform as easily as you would swap tokens on a conventional cryptocurrency exchange.

So where does the remaining $2 billion a year go? Into expansion? No, ten years of the savings will help pay for the $20 billion stock buyback announced last fall.

companies have claimed that the sudden influx of money, which will likely go to boosting stock prices (top executives and board members are shareholders, too), actually allows them to invest in employees and their businesses. But they generally follow a pattern of doing something seemingly flashy for employees that lasts a year or less following by something far more obviously moderate over time

Gratisography