Youtube daily google Nov 27 2018

How to read and analyze a balance sheet?

This balance sheet tutorial is a follow-up video to the 2017 Alphabet Inc financial statement

analysis series, and compares the September 30, 2018, balance sheet of Alphabet Inc (the

parent company of Google) to the balance sheet of Facebook on the same date.

As always on the Finance Storyteller channel, this video is for educational purposes only,

none of the comments in this video should be interpreted as investment advice, and I

do not hold any positions in either Alphabet Inc or Facebook stock.

As the video is for educational purposes, please do try this at home (either for other

companies, or the same companies in future quarters), and comment on your findings below!

The balance sheet is an overview of what a company owns and what a company owes at a

specific point in time.

What a company owns is called Assets, what a company owes is called Liabilities and Equity.

The difference between current and non-current assets is whether this asset will be converted

to cash within one year.

The difference between current and non-current liabilities is whether the amounts are due

within one year, or further out.

Let's put the Alphabet Inc (Google) balance sheet on the left, and the Facebook balance

sheet on the right.

The latest balance sheets available at the time of making this video are those of September

30, 2018.

The balance sheet total for Alphabet Inc on the left is $221.5 billion, for Facebook on

the right $92.5 billion.

So from the balance sheet perspective, Alphabet Inc is a much bigger company.

Alphabet Inc (Google) was incorporated in 1998, Facebook in 2004, in terms of number

of years of existence Alphabet Inc is a few years ahead of Facebook.

Let's walk through each of the categories on the balance sheet,

starting on the top left: Current Assets.

Current assets are cash and other assets that are expected

to be converted to cash within a year.

Both companies have a huge amount of Current Assets.

For Alphabet Inc, 59% of the total assets.

For Facebook, 53% of the total assets.

This is not unusual for the tech sector, but compared to the Dow Jones Industrial 30 companies

or the S&P 500 this is very high.

Let's look inside, and see what makes up the Current Assets balance.

For Alphabet Inc, Cash and cash equivalents of 13.4, Marketable securities 93, Accounts

receivable 17.9 (which is equivalent to 48 days of Days Sales Outstanding if you relate

it to Alphabet Inc's Q3 revenue), Other current assets 5.4,

to get to Total Current Assets of 129.7.

For Facebook, Cash and cash equivalents 9.6, Marketable securities 31.6, Accounts receivable

6.1 (which is equivalent to 40 days of Days Sales Outstanding if you relate it to Facebook's

Q3 revenue), Other current assets 1.9, to get to Total Current Assets of 49.1.

What jumps out at us in this overview is the very large balances of cash and cash equivalents,

and marketable securities.

Both companies are very cash-rich.

We will find out why once we get to the bottom right of the balance sheets: Equity (which

is the offset on the other side of the balance sheet).

A useful metric to calculate to evaluate a company's short term liquidity

is the Current Ratio.

The Current Ratio is simply Current Assets divided by Current Liabilities.

Alphabet Inc's current ratio is 4.1, Facebook's current ratio is 8.9.

These are very high numbers, compared to a group of 25 Dow Jones Industrial Average companies

that I recently reviewed, that have a current ratio of 1.4.

In short, the liquidity of both Alphabet Inc and Facebook is very high.

Bottom left of the balance sheet: Non-Current Assets.

What does this category consist of?

Alpabet Inc.

Property and equipment 55.3, Goodwill 17.9, Intangible assets 2.4, Other non-current assets

16.2, Total Non-Current Assets 91.8.

Facebook.

Property and equipment 21.1, Goodwill 18.3, Intangible assets 1.5, Other non-current assets

2.5, Total Non-Current Assets 43.4.

What jumps out here is that both companies have around $18 billion in goodwill, which

is related to acquisitions that were done in the past: goodwill is the excess of the

purchase price paid for an acquired firm, over the fair value of its separately identifiable

net assets.

In absolute terms, this is a similar amount for both companies, but in relative terms

(compared to the balance sheet total), this is a much bigger item for Facebook.

Onward to the top right of the balance sheet: Liabilities.

$51.7 billion in total for Alphabet Inc, $12.1 billion in total for Facebook.

Let's look at the detail that each company provides.

In Current Liabilities, the line item "Accrued expenses and other current liabilities"

is by far the largest for both companies.

For Non-Current Liabilities, Alphabet Inc does and Facebook doesn't give any line

item detail.

A quarterly earnings release, such as the ones that I retrieved these balance sheets

from, do not provide a lot more detail behind these numbers.

In the December 31 2017 balance sheet analysis for Alphabet Inc (a related video), based

on its more detailed annual report, I did go into more detail for Alphabet Inc's accrued

expenses, as well as income taxes payable.

Bottom right of the balance sheet: Equity.

On the balance sheet, the Equity balance is stated at the book value.

The market value of the equity in these companies is far higher than that.

Equity as % of the balance sheet total is extremely high for both companies:

77% for Alphabet Inc, 87% for Facebook.

For other companies, I would usually calculate the debt-to-equity ratio as well when doing

a balance sheet analysis.

Given that Alphabet Inc has long-term debt of $4 billion, and Facebook none at all, debt-to-equity

ratio is not a meaningful metric in this comparison.

What is interesting to analyze, is what makes up the Equity balance.

For Alphabet Inc, Common stock and additional paid-in capital 43.1, Retained earnings 128.4,

Accumulated other comprehensive loss of (1.7), make up Total Equity of 169.8.

For Facebook, Common stock and additional paid-in capital 42.4, Retained earnings 38.8,

Accumulated other comprehensive loss of (0.8), make up Total Equity of 80.4.

An interesting coincidence is that for both companies, the amount of total capital contributed

by the shareholders, represented in the first line Common stock and additional paid-in capital

is a similar amount.

Retained Earnings, that part of a company's cumulative historical profits that has not

been distributed to shareholders through a dividend, is very high for both companies.

Both companies are very profitable, and are growing profitability in the income statement

quickly versus the prior year.

Alphabet Inc (Google) does have the advantage here that it was incorporated in 1998, versus

Facebook in 2004.

Let's specifically look into the word "Retained" in the term "Retained Earnings", and review

the companies' dividend policy as disclosed in the latest annual reports.

Let me read Alphabet Inc's dividend policy,

which is substantially the same as that of Facebook.

"We have never declared or paid any cash dividend on our common or capital stock.

We intend to retain any future earnings and do not expect to pay any cash dividends in

the foreseeable future."

This explains the large Retained Earnings balances in Equity.

Very profitable companies that do not pay dividends, have high Retained Earnings balances.

My summary of this short review of Alphabet Inc's and Facebook's Q3 2018 ending balance

sheets: both very financially healthy companies, with high scores on financial ratios such

as Current Ratio and Equity as % of total balance sheet.

Thank you for watching!

If you enjoyed this explanation of how to read a balance sheet and how to perform a

balance sheet analysis, then please give it a thumbs up!

On this end screen, there are a few suggestions of videos you can watch next.

Please subscribe to the Finance Storyteller YouTube channel!

Thank you.

For more infomation >> Balance sheet comparison Alphabet Inc (Google) vs Facebook - Duration: 9:28.

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Send PDFs or Any Files From Chatfuel Chatbot Using Google Drive, Dropbox or WordPress Site | C+I 42 - Duration: 8:25.

In this lesson, you'll learn how to send PDF to your user using your Dropbox,

Google Drive or even WordPress website. login to Chatfuel and go to your bot

Automate section, add a new group and name it PDF file.

Create a block and name it PDF file as well.

Just so you know, Chatfuel already has a plugin that allows you to send video or

audio to your user if you are using Dropbox or your own server to host the

file. At the moment they don't have PDF plugin yet that's why we have this

lesson. So if you are sending video and audio file you don't have to use

Integromat, you can use Chatfuel plugin for that unless your file is

hosted in Google Drive. Now let me remove these two plugins and we will continue

the lesson.

Insert a typing action

and a text card just to indicate to the user that the file is loading.

After that, add a JSON API plugin.

Now let's go to Integromat to get the URL.

Create a new scenario,

Search for Chatfuel and continue.

Select JSON Listener.

Add a new webhook and name it however you want.

Copy the URL to clipboard, go back to Chatfuel.

You may leave the type as GET. Paste the URL here.

Uncheck this option so we don't get an error message then go to Setup AI.

Add a new AI rule with the keyword PDF then direct user to the "pdf file" block.

Let's head back to Integromat, click OK

and add another Chatfuel module, select JSON Response.

Under the messages, add a new item. Object type will be generic file but if you are

sending a video or audio file make sure you select it accordingly.

Now we will need to paste the file URL here. Just a gentle reminder here, make sure the

file size is not more than 25 MB. We will start with Dropbox. Go to your

Dropbox account, assuming this demo.pdf is the file that you want to send to your user.

Click on the share button,

create a link

then copy the link.

I will paste the link here just to show you how I change the link that can be

used in Integromat. You can download this document in the resources section.

For a Dropbox link it is very simple just change the number at the end from 0 to 1.

Once you have done that, copy the link and go to Integromat then paste the

link in the file URL. Add the item, I will add a text message

below just to indicate where is the file coming from.

Add the message and click OK. Since we are not sending any user attribute

from Chatfuel, we don't have to run the scenario once. So just save the scenario

and turn it on to run the scenario immediately.

Just type in pdf, the file should appear.

Next we will proceed with Google Drive. Click on the Chatfuel module and edit the

file type. Login to your Google Drive,

right click on the demo.pdf then select get shareable link.

Copy the link,

I will paste it here just to show you how I change it. You can actually paste it

directly in the Integromat. Now select the red color text just like this

copy it and replace it with "open?".

Copy the URL, go back to Integromat

and paste it in the file URL.

Save

and I will change the text to Google Drive.

Save the scenario and we can test the bot.

It's working well. Now for the last part I will show you

how to host a file in your WordPress website.

Login to your WordPress website. Under the media section, click on the "Add New"

button to upload a new file. After that click on the "Select Files" button and

select your PDF file.

Once the file has been uploaded, click on the edit link beside the file.

Copy the file URL and go back to Integromat and paste it here. Click save.

I will change the text to WordPress.

Save the scenario and we can test the bot again.

Now you have learned how to send PDF to your user using the files in your

Dropbox, Google Drive or even your WordPress website. Thank you so much for

watching, I hope to see you in another lesson.

For more infomation >> Send PDFs or Any Files From Chatfuel Chatbot Using Google Drive, Dropbox or WordPress Site | C+I 42 - Duration: 8:25.

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(light upbeat music)

- Google and Deloitte come together to go

and solve really complex, really intricate issues

that Clouds are facing.

That's where it starts

and being able to deliver against that

is incredibly important for us.

Being a Google partner,

it allowed us to really look at Google

and really get a better understanding

of what Google technology is.

When we look at Gage Cloud,

it's a very comprehensive decision and process that we make.

As Deloitte leverages Google Cloud, an open-cloud platform,

the ability to service large global internationals

using Google's network, security around that,

to size and scale, is really key.

Now we're doubling down with Google.

We believe in what Google's technology is.

We believe in what Google has to offer.

We believe that Google,

with Deloitte's expertise in the industry,

is an incredibly good match.

(upbeat music)

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Google Pixel Slate Review: half-baked - Duration: 8:26.

- I don't even know where to start with this thing.

This is the new Pixel Slate,

it's not quite the first Chrome OS tablet ever

but it is the first one that signals Google

is really trying to make Chrome OS

its big screen computing platform of the future.

It's a tablet that runs

the full desktop Chrome web browser, web apps,

and Android apps.

It can cost as little as $600 bucks

but the one that I'm testing right here costs a thousand

plus $200 bucks for this keyboard right here.

This thing is weird.

It's somewhere between a tablet and laptop

and it's not great at either.

It feels like an experiment in the future of computing

but not the actual future.

So, in a lot of ways I do kind of love it but sometimes,

I really hate it.

Let's just get into the hardware.

The Pixel Slate has a 12.3 inch, 3,000 by 2,000 screen

that Google calls a molecular display

but it pretty much just looks like any other LCD to me.

It's good.

It has some fairly sizable bezels,

partly because there are two front-facing speakers

that sound great on the front of it.

It is blue and it picks up fingerprints really easily

but overall, it's pretty nice in terms of quality.

You can login with your fingerprint

right there on the power button.

There are a couple of cameras

that do camera things pretty well.

There's no headphone jack and there are two USBC ports

and I'll get to those USBC ports in a minute,

don't you fret.

Anyway, as tablets go, it's big but it's still manageable.

It's sort of like that 12.9 inch iPad Pro

but unlike that iPad Pro, this has an Intel chip inside it

and that's where things start to get weird.

Google decided to offer four different processor options

and three different RAM options

in five different price points,

so picking out a Pixel Slate is complicated.

You can spend as little as $599,

but it won't do much more than open up a few tabs

and run the Netflix app.

Or you can can kid it out with the max specs

and a keyboard and pen and spend $2,000 dollars.

I think the only one really worth considering

is the Core i5 model that I'm using right here

but I think that because I know how Chrome OS works

and I know that I want to do more

than just use it as a basic tablet.

And that's the thing,

you need to know a lot about what you want out of Chrome OS

just to figure out which one to buy.

In fact, you need to know a lot about Chrome OS

to get most outta the Pixel Slate

no matter which one you buy.

So, let's talk about Chrome OS and more specifically,

let's talk about how it works on this hybrid Pixel Slate.

When you have the keyboard attached,

it works just like any other Chromebook.

You've got a mouse and resizable windows,

you can open up Chrome tabs and Chrome windows,

and web apps and Android apps,

and move them around, the whole works.

It's all really familiar right on down to Android apps,

working but still feeling just a little bit different

than the rest of the OS.

I gotta say though, I don't love this Folio keyboard much.

It's not the rounded keys, they're fine,

they're quiet and they're backlit, and it's pretty nice.

And it's great that you can use it in almost any angle

thanks to this really neat magnet trick

that puts it up at just the right spot.

But the keyboard deck is connected by this floppy flap

and it flexes so much

that you can actually click the trackpad

by accidentally resting your palms on it

when it's on your lap, just like it flexes.

No good.

Brydge makes a Bluetooth keyboard

specifically for the Pixel Slate that's way better

and it's $40 dollars cheaper.

Anyway, when you detach the keyboard

or when you flip it under like this,

it goes into tablet mode.

All your windows go full-screen,

but you can do some split-screen

by dragging down from the top and then over to the right.

And there are some neat touches here,

I really love that if you want,

you can have this little thumb-swipe keyboard

over on the right

instead of having the full-screen keyboard

taking up half the screen.

It's kinda neat.

But the thing is, in tablet mode,

the animation feels really kinda janky,

it's inelegant and it's pretty stuttery.

And performance overall is a mixed bag,

it's not bad most of the time,

I can have like 20 tabs

and a few apps going at the same time.

So, that's good but sometimes I get really bad lag

where I feel like I shouldn't.

So, for example in the Google Keep app,

sometimes I pen with it and it's totally fine

other times it lags really bad.

And other times, things are just kind of unstable.

There are bugs.

The first review unit that Google sent me,

straight up crashed into a boot loop

and it had to be replaced.

The second one, luckily, hasn't had that issue

but I've still had problems with Bluetooth disconnecting

and since there's no headphone jack,

that's kinda just a killer.

Now let's say you trust Google to fix all those bugs,

there is a new version of Chrome OS out

every six weeks after all.

That brings us to the next question,

really the most important question,

can you make this your main computer?

It's the same question we asked about the iPad Pro.

I don't know if you noticed,

but I started this video with the exact same line

that Nilay used in his iPad Pro video

because in a lot of ways,

these devices are trying to do similar things

but from different directions.

- Either you have to completely understand

the limitations of IOS so well

that you can make use of these little hacks

all over the place to get things done,

or you just deal with it and accept the fact

that you have to go back to a real computer

from time to time because it's just easier.

- Yeah, it's the same thing with the Pixel Slate

but for different reasons.

Most people should not make this their main computer

but Chrome OS experts could.

There are a million examples I could cite here,

so I'm just gonna pick one and yeah,

it's finally time to talk about those USBC ports.

So, let's just plug some stuff in.

(quiet upbeat music)

Check, check, check, ha.

Oh no,

ah, woop woop!

So the Pixel Slate isn't restricted like the iPad Pro,

there's a real file browser that sees drives

and if you plug a microphone in, it'll work

and any app can theoretically see whatever you plug in.

It's not really limited by the OS,

instead it's limited by the apps that you can get on it.

So, for example, when I plug in an SD card,

it just pops up the files app.

So far so good.

But the Adobe Lightroom Android app

was designed to work with phones

and doesn't work with Chrome OS' file browser,

so you have to injust the photos into the file app,

then go looking for 'em in Lightroom,

and then go back and delete them in the files app.

Now look, I don't wanna just pick on Adobe here

because this Android app weirdness is kind of all over.

It's nice that you have access

to the full Google Play library of Android apps

but most of the stuff you're really gonna wanna use

instead of web apps

are stuff like video streaming apps and games.

I mean, I don't know,

Spotify just looks silly here for example,

it's just like a tacked on phone app.

The trade off though,

is you get a real desktop-class web browser,

you can't get that on an iPad.

So, I'm able to get more work done on this

than I can on an iPad Pro based on my particular needs.

Just the thing is, I gotta admit,

this is way less fun to use.

So look, I've been hard on this Pixel Slate

but I think it's time to start expecting more

from Chromebooks.

This thing is in the same price range as the iPad Pro,

the Microsoft Surface,

and tons of high-end Windows and Mac laptops.

I honestly think the only people who should buy this

are Chrome OS diehards,

and you know what?

Even for them, I don't think this makes sense.

Last years Pixelbook is still right there

and it's getting discounted all the time.

Sure, it's last years processor

and you can't attach the keyboard,

but otherwise, it's basically the same thing

and it weighs a quarter pound less than this tablet

with the keyboard attached.

I still love my Pixelbook and I'm sticking with it.

Now, the Pixel Slate has a lot going for it

but I think it's just too experimental.

The bummer of it all is I really do like

what Google is trying to do here,

I just wish it was less trying and more doing.

Hey, thanks so much for watching

and let me know in the comments, what would it take for you

to consider a full Chrome OS tablet?

I'm really curious and you know?

I'm obsessed with these new kinds of computers

and I have a video that's a good introduction

to what I think about 'em

it's the very first processor episode

where I try to answer the question,

what's a computer?