It appears that he may be taking all company marketing material at face value, believing that Root and Lemonade are the clear and obvious comps, as opposed to Progressive (leader in usage-based insurance) or GEICO or Allstate, or even Kemper (non-standard auto).
hehe. this has aged like a fine claret.
Found this two years later and it is still incredibly thoughtful. Please write more.
Excellent and soundly reasoned.
Have you seen this other SPAC-King's 1-pager on Metromile? https://twitter.com/chamath/status/1331278297930428417?s=20
It appears that he may be taking all company marketing material at face value, believing that Root and Lemonade are the clear and obvious comps, as opposed to Progressive (leader in usage-based insurance) or GEICO or Allstate, or even Kemper (non-standard auto).
Lotta crazy out there. Thank you for this post.