“I'd say the, like, the number one mistake that people make is that they you know, they assume too much of the data. They assume the data's perfect, right?”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
(the analysis reads context, assessments check outside sources). how →
More from Michael Babineau
AssertionNot checkable as stated
Lapsed Amazon Prime subscribers continue spending more than they did before subscribing
“People who became an Amazon Prime subscriber, even if they lapse, right, even if they are no longer a subscriber they're still spending more on Amazon after than they did before.”
Michael BabineauMay 29, 2019▶ 25:50Analyzing Billions of Transactions to Understand Consumer Behavior - Michael Babineau and Kevin Hale · Y Combinator
AssertionNot publicly verifiable
Most hedge funds operate without any in-house coders, Michael Babineau says
“In reality most most hedge funds have a handful of analysts and just some back office support, right? They don't have any coders in house.”
Michael BabineauMay 29, 2019▶ 2:04Analyzing Billions of Transactions to Understand Consumer Behavior - Michael Babineau and Kevin Hale · Y Combinator
Insight
Investors generally lack the technical skills to process messy credit card data
“Credit card transaction data is, it's a messy and, like, there, it's a messy data set with unstructured data problems baked into it. And the skill sets of investors, even the more technical ones those tend to lean more towards, like, time series analysis as op…”
Michael BabineauMay 29, 2019▶ 9:18Analyzing Billions of Transactions to Understand Consumer Behavior - Michael Babineau and Kevin Hale · Y Combinator
AssertionNot checkable as stated
Most Bay Area venture capital firms are Second Measure customers, Babineau claims
“And now most most of the VCs here in the Bay Area, they are our customers, you know”
Michael BabineauMay 29, 2019▶ 12:32Analyzing Billions of Transactions to Understand Consumer Behavior - Michael Babineau and Kevin Hale · Y Combinator
AssertionSupported
Stitch Fix did not cannibalize department store spending, Second Measure found
“And what we found is that Stitch Fix had
no impact on department store spend.
Right?
People just started spending more on clothes.
Period.”
Michael BabineauMay 29, 2019▶ 21:24Analyzing Billions of Transactions to Understand Consumer Behavior - Michael Babineau and Kevin Hale · Y Combinator
AssertionSupported
Peloton monthly active members have surpassed SoulCycle riders, Second Measure data shows
“I mean, the short version is that Peloton has now surpassed SoulCycle in terms of, like, the number of active Peloton members, right, and this is based on a spending based on spending behavior. Active Peloton members on a monthly basis have surpassed the numbe…”
Michael BabineauMay 29, 2019▶ 23:52Analyzing Billions of Transactions to Understand Consumer Behavior - Michael Babineau and Kevin Hale · Y Combinator
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