Free guides
How companies make money
Famous businesses, taken apart in plain English: where the money comes from, where it goes, and what's left. Every number is cited, most from the company's own annual report, with a link to check it.
Each one leads into a free hands-on lesson. See them all in Big companies.
How airlines make money
From Delta Air Lines' 2025 annual report · then the 9-minute lesson
Huge fixed costs and prices that change by the day. Why every empty seat hurts.
How Amazon makes money
From Amazon's 2025 annual report · then the 9-minute lesson
An online store, a delivery network and a cloud computing business under one roof.
How banks make money
From JPMorgan Chase's 2025 annual report · then the 9-minute lesson
How lending other people's money turns into a business.
How Costco makes money
From Costco's 2026 annual report · then the 9-minute lesson
A warehouse store with low prices and thin markups. So where does the profit come from?
How Google makes money
From Alphabet's 2025 annual report · then the 9-minute lesson
Search is free to use. So who pays? Advertisers.
How insurance companies make money
From Progressive's 2025 annual report · then the 9-minute lesson
A business where risk is the product.
How McDonald's makes money
From McDonald's 2025 annual report · then the 9-minute lesson
Burgers, yes. But most of its restaurants are run by franchise owners, who pay it rent and fees.
How Netflix makes money
From Netflix's 2025 annual report · then the 9-minute lesson
Subscriptions, and paying for shows long before anyone watches them.
How Starbucks makes money
From Starbucks' 2025 annual report · then the 9-minute lesson
Coffee on a lot of corners, and customers who put money on the app before they buy.
How Uber makes money
From Uber's 2025 annual report · then the 9-minute lesson
A marketplace: it doesn't own the cars. It connects riders and drivers and takes a fee.