So Automattic acquires Day One, and I suppose Matt Mullenweg's plan is to eventually become a capital allocator? ma.tt/2021/06/day-on
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It *will* be interesting to see if Automattic becomes a collection of high-FCF generating businesses. As far as I can tell they haven't monetised Tumblr yet.
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FWIW, I’m a huge fan of Day One, used it for ~6 yrs. Not sure how to feel about this acq., TBH. From a Berk/Hath perspective, Day One already profitable. Hoping they don’t switch gears & go the Investment Firm route, bundle it w/an underperformer then sell it for profit.
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