Mark Mahaney - Nothing But Net

Praise for Nothing But Net

People always ask me what investment books can help them understand how to value technology stocks. I gave up suggesting them a long time ago; nobody knew enough or had enough history with the most important sector in the market. And then along comes Mark Mahaney with Nothing But Net. The problems solved; I have the answer. Read this book. Its the most comprehensive, self-deprecating, and insightful book I have come across that explains how tech stocks really work: which ones go up, which ones go down, from the only person who has opined for the entire era. I thought I knew these stocks cold; I learned a ton. You will too.

JIM CRAMER, host of Mad Money and cofounder of TheStreet.com

Timeless insights into stocks, management, and what makes a company worth investing in. Required reading for the next generation of investors.

SCOTT GALLOWAY, Professor of Marketing at NYU Stern School of Business, cohost of the Pivot podcast, and author of The Four

Marks book will help all investorsfrom novice individual investors to seasoned institutional investorsgather the confidence to invest in the future today. Nothing But Net offers important investment lessons that I have not forgotten and, thanks to his analysis, will never forget.

CATHIE WOOD, founder, CEO, and CIO of Ark Invest

Mark has been one of the sharpest, smartest, and most reliable analysts on my show for the last 10 years. He takes it to the next level in Nothing But Net, a remarkably personal, witty, engaging, yet informative read. Youll laugh and learn, not just about picking tech stocks, but also about the meteoric rise of the worlds most dynamic and valuable companies, and where theyre going next.

EMILY CHANG, host and Executive Producer of Bloomberg Technology, author of Brotopia

This fun, informative book is Peter Lynch meets Michael Lewis. Ive long known that Mark Mahaney is a top player, thinker, analyst, investor, and human being, and now Ive learned, hes also an amazing writer. His 10 Timeless Stock Picking Lessons are really insightful and useful. Read this book.

ED HYMAN, Chairman of Evercore ISI and the #1 Ranked Analyst for Economics for 40 years by Institutional Investor

Wall Street analyst Mark Mahaney has been watching Internet stocks rise, fall, and confound investors since the start of the web era. In this personable, compelling book, Mahaney reflects on both the hits and misses from his storied career while dishing out critical tips on how to appraise tech companies, when to invest, and how to stay sane through it all.

BRAD STONE, author of The Everything Store and Amazon Unbound

Copyright 2022 by Mark S.F. Mahaney. All rights reserved. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher.

ISBN: 978-1-26-427497-0
MHID: 1-26-427497-1

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To My SonsNoah, Carter, Aidan, and Malcolm
All My Love... ALWAYS

In Memory of Robert and Olga Mahaney
ETERNALLY Grateful

To Brother Brendan and Sister Alex
FOREVER Thankful

To The Abbey Boys
Pax in Sapientia

I am the oldest and longest-lasting Internet analyst on Wall Street. And I have been lucky. Very lucky. For almost 25 years, my job has been to cover Internet stocksto write about, model, analyze, discuss, and explain arguably the most dynamic and interesting investment sector on Wall Street. I have had the opportunity to track some of the most innovative companies of the last quarter centuryAlibaba, Amazon, AOL, eBay, Expedia, Facebook, Google, LinkedIn, Netflix, Pandora, Priceline, Snap, Spotify, Twitter, Uber, Yahoo!, Zillow, and others. I have had the chance to meet and get to know (sometimes barely, sometimes well) some of the leading entrepreneurs and CEOs of the last 25 yearsJeff Bezos, Reed Hastings, Meg Whitman, Steve Case, Mark Cuban, Eric Schmidt, Jack Dorsey, Jeff Boyd, Dara Khosrowshahi, Tim Westergren, Evan Spiegel, and Doug Lebda, to name a few. And my stock calls have had their share of failures, but also many dramatic money-making wins.