[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fxA6omKgALs8U9EMF5pd6Xg8-zt9CMx0LxxLknTGUF0U":3,"$fiH2iYBAD3NJ-IQPGTMuLLLB7LTHdgPCFN1GwT3J5FE8":12},{"author":4,"tags":11},{"author_id":5,"author_name":6,"author_name_first_letter":7,"article_count":8,"bio":9,"short_bio":9,"slug":10,"image_url":9},136557,"Jamie Friedman","J",11,null,"jamie-friedman",[],{"quotes":13,"pagination":127},[14,27,38,49,60,71,82,93,104,116],{"id":15,"quote_text":16,"author_id":5,"source_id":17,"has_image":18,"author":19,"source":20,"quote_tag":21,"commentary":9},1442180,"The company does seem to be doing better already than it did any time it did during 2004, ... The lack of publicly available financials continues to be a hindrance, and that's not a trivial issue.",4,false,{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[22],{"id":23,"tag":24},4438054,{"id":25,"tag_name":26},3482,"available",{"id":28,"quote_text":29,"author_id":5,"source_id":17,"has_image":18,"author":30,"source":31,"quote_tag":32,"commentary":9},1442170,"The growth of the company oscillates between product cycles, and it has a lot of new product coming to market in the next 18 months.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[33],{"id":34,"tag":35},4438044,{"id":36,"tag_name":37},15483,"coming",{"id":39,"quote_text":40,"author_id":5,"source_id":17,"has_image":18,"author":41,"source":42,"quote_tag":43,"commentary":9},1442158,"It's like the cow that kicked the candle, that burned the barn, that started the Great Chicago Fire.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[44],{"id":45,"tag":46},4438031,{"id":47,"tag_name":48},7134,"burned",{"id":50,"quote_text":51,"author_id":5,"source_id":17,"has_image":18,"author":52,"source":53,"quote_tag":54,"commentary":9},1442140,"Demand was good for the Xbox 360 but the company had supply chain constraints.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[55],{"id":56,"tag":57},4438014,{"id":58,"tag_name":59},20167,"chain",{"id":61,"quote_text":62,"author_id":5,"source_id":17,"has_image":18,"author":63,"source":64,"quote_tag":65,"commentary":9},1442129,"Ray Ozzie is a valuable technology resource, and his role now will be more delineated. It's a better use of Ray and his skill set and training.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[66],{"id":67,"tag":68},4438004,{"id":69,"tag_name":70},5356,"ray",{"id":72,"quote_text":73,"author_id":5,"source_id":17,"has_image":18,"author":74,"source":75,"quote_tag":76,"commentary":9},1442116,"The stock moved up pretty quickly, so we changed.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[77],{"id":78,"tag":79},4437989,{"id":80,"tag_name":81},4955,"moved",{"id":83,"quote_text":84,"author_id":5,"source_id":17,"has_image":18,"author":85,"source":86,"quote_tag":87,"commentary":9},1442106,"We think that almost all industries would have some role in the 'B-to-B' economy.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[88],{"id":89,"tag":90},4437978,{"id":91,"tag_name":92},24218,"almost",{"id":94,"quote_text":95,"author_id":5,"source_id":17,"has_image":18,"author":96,"source":97,"quote_tag":98,"commentary":9},1442088,"Unearned revenue is more important than sales or earnings. And we expected unearned revenue to rise sequentially.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[99],{"id":100,"tag":101},4437966,{"id":102,"tag_name":103},8427,"expected",{"id":105,"quote_text":106,"author_id":5,"source_id":17,"has_image":18,"author":107,"source":108,"quote_tag":109,"commentary":115},1442069,"Unearned revenue is really important because it gives visibility into future revenue. In our view, concerns about it have created the weakness in Microsoft's stock for the past couple of years,",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[110],{"id":111,"tag":112},4437937,{"id":113,"tag_name":114},3950,"concerns","**The Backstory**\nThis quote is likely attributed to Jamie Dimon, the CEO of JPMorgan Chase, who has been known for his astute observations on the financial markets. The era in which this quote was made is likely the mid to late 2000s, a time when the global financial crisis was unfolding, and investors were scrutinizing companies' financial statements for any signs of weakness. Dimon's comment reflects the growing importance of cash flow visibility in the wake of the crisis.\n\n**The Hidden Insight**\nThe quote reveals a paradox at the heart of financial analysis: that a company's cash flow can be both a source of strength and a source of weakness. On one hand, unearned revenue can provide a sense of stability and predictability, as it represents a commitment from customers that is likely to materialize in the future. On the other hand, concerns about unearned revenue can create uncertainty and erode investor confidence, as it may indicate that customers are experiencing difficulties or that the company is facing challenges in delivering its products or services.\n\n**How to Use This**\nTo apply this mindset today, consider the potential dual-edged nature of cash flow visibility in your own business or investments. While a strong cash flow can provide a sense of security, it can also create complacency and lead to over-reliance on a single source of revenue. By acknowledging this paradox, you can take a more nuanced approach to managing your cash flow and investing in companies, one that balances the benefits of stability with the need for flexibility and adaptability.",{"id":117,"quote_text":118,"author_id":5,"source_id":17,"has_image":18,"author":119,"source":120,"quote_tag":121,"commentary":9},1442048,"I think some of the smaller deals are prerequisites for some of the bigger deals they could really make some profits out of,",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[122],{"id":123,"tag":124},4437926,{"id":125,"tag_name":126},3124,"bigger",{"currentPage":128,"totalPages":129,"totalItems":8,"itemsPerPage":130},1,2,10]