Sophomore prepping for 2021 SA interviews: spring and fall. For various reasons I want to work in a tech coverage group.. are there any resources you guys recommend to learn about the industry. Have a good grasp of finance but want industry specific knowledge
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bump...have an interview next week, looking for specific websites/books/reports
Already for 2021?
Major plug for Dan Primack's "Pro Rata" newsletter via Axios.. great daily resource on tech M&A + VC/PE deals
Also Stratechery by Ben Thompson - a paid newsletter/site but you can access the article backlog and he provides really insightful, highly detailed coverage of tech business happenings with a finance/strategy focus
I'm in the tech team of an EB. Axios Pro Rata, TechCrunch, TermSheet are the best in my opinion. If you're interested in tech, I'd make sure to have a good understanding of the range of tech. Software, Consumer Tech normally grabs headlines but if you make it to a tech team, you'll work on Semiconductors and Hardware too. Try to have a good understanding across the range of tech verticals - valuing a Saas business is very different to semis.
Appreciate the help I’ll check those three out for sure. in the short term, let’s say a month out, would you recommend learning about each vertical broadly or supposedly “mastering” a vertical such as SaaS?
also any chance I could PM you about this?
Sure PM me if you'd like. There's an old industry guide on WSO for tech/ TMT which should enough. Basically I'd just say you need to know say 5 core verticals: software, hardware, Internet, Semi-conductors and Networks. Just try to understand what a business in these looks like, give some examples of firms in each vertical etc etc.
For say SaaS; make sure you understand the subscription model. Know what CAC (customer acquisition cost) and CLTV (customer lifetime value are) and you should be fine. Also think on how gross margins might vary across industry groups. - Software has high margin vs. Hardware with lower margin etc.
interview for summer 2021?
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