Toptal Blog

The Toptal Blog is the top hub for developers, designers, finance experts, executives, and entrepreneurs, featuring key technology updates, tutorials, freelancer resources, and management insights.
Alex Graham
Do Economic Moats Still Matter?

Companies, like castles, need a line of defense to repel the invaders’ advances. Economic moats, taking a cue from their watery namesakes, are long-term and sustainable competitive advantages that protect others from seizing market share. But on the flipside, are they actually just lazy, passive strategies that shun innovation?

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Stefan Josefsson
Forecaster’s Toolbox: How to Perform Monte Carlo Simulations

One of the most important and challenging aspects of forecasting is handling the uncertainty inherent in examining the future. Every CEO, CFO, board member, investor, or investment committee member brings their own experience and approach to financial projections and uncertainty, influenced by different incentives. Oftentimes, comparing actual outcomes against projections underscores the need to explicitly recognize uncertainty.

Monte Carlo simulations are an extremely effective tool for handling risks and probabilities, used for everything from constructing DCF valuations, valuing call options in M&A, and discussing risks with lenders to seeking financing and guiding the allocation of VC funding for startups. This article provides a step-by-step tutorial on using Monte Carlo simulations in practice.

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Toby Clarence-Smith
The Most Exciting Asset Class in Private Equity? Search Funds from the Investor’s Perspective

In the current low interest rate environment, investors have been increasingly moving towards alternative asset classes, particularly private equity which continues to attract the lion’s share of investor capital. But could a relatively unknown, niche new asset class hold the key for outsized market performance?

In this article, Toptal Finance Expert Toby Clarence-Smith uncovers the world of search fund investing, reviewing some of the key aspects of the asset class from the investor standpoint as well as running through the main benefits of putting money to work in this space.

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Kevin Bloch
Haxe: Cross-platform Development's Best-kept Secret

The modern, cross-platform programming language Haxe is well-known in some circles, yet many developers have never heard of it. Since it first appeared in 2005, it’s been battle-tested by its loyal—if rather quiet—following.

In this article, Toptal Freelance Software Engineer Kevin Bloch explores the Haxe ecosystem and how to transpile some sample code.

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Johannes Stein
A Cold Dive into React Native (Tutorial for Beginners)

The development of cross-platform mobile applications has always been a source of many challenges. Although tools like Apache Cordova and Haxe do solve some of the associated issues, they are still not the ideal solution in many cases. React Native changes that by providing the power of React.js for mobile platforms and a promise of consistent developer experience across multiple platforms.

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Andrei Smirnov
A Vital Guide to Qmake

Qmake is a build system tool shipped with Qt library that simplifies the build process across different platforms.

In this guide, Freelance Qt Developer Andrei Smirnov describes the most useful qmake features and provides real-world examples for each of them.

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Elizabeth J. Howell Hanano, CFA
Legal Sports Betting: A New Economy Built on Vice

In the last Super Bowl when the New England Patriots faced off against the Philadelphia Eagles, Americans bet a staggering $4.76 billion on the game. 97% of that figure was done so illegally. However, this will likely change by the time the next Super Bowl rolls around. In a hotly anticipated move on May 14, 2018, the US Supreme Court struck down the Professional and Amateur Sports Protection Act, paving the way for states to legalize sports betting.

This article covers the foundations of sports betting, including its $150 billion market size, implementation timeline, and revenue distribution. It will also examine the implications of its legalization, including increased sports engagement and popularity, ethical concerns, fresh opportunities, and its impact on fantasy sports and eSports.

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Toby Clarence-Smith
Don't Scale an Unprofitable Business: Why Unit Economics (Still) Matter

With venture funding having grown more than 120% in the US in the last five years, startup founders and investors alike have grown increasingly comfortable with low margin business models. But the successes of the Amazons and Facebooks of this world often mask failure in a slew of other sectors, where the “build it and they will come” model doesn’t always work.

In this article, Toptal Finance Expert Toby Clarence-Smith brings attention back to the importance of studying a business’ long-term sustainability prospects, with a particular focus on unit economics, one of the building blocks of profitability and breakeven analysis for startups.

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