Better, Cheaper, Faster: Why Companies that Reduce Friction Win

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[00:02:37] – How investing is about underwriting the future 

[00:05:42] – Essential tools to underwrite the future

[00:09:02] – Increasing returns to scale as the most important tool

[00:11:36] – Example of silly investments

[00:14:00] – Ideas of consumer signal and non-linear behavior

[00:16:30] – Why he was blown away by ibuyer.com

[00:19:08] – How businesses are targeting facilitating transactions

[00:23:11] – Ecommerce and digital penetration in business

[00:27:56] – His thoughts on the extinction of so many businesses as a result of the pandemic

[00:32:26] – 2x2 chart tracking product vs. service against homogeneous vs. heterogeneous

[00:43:51] – Other features of business that fascinate him

[00:46:29] – Ideas that pique his interest right now

[00:51:20] – Case study: IAC/InterActiveCorp

[00:59:36] – Barry Diller’s superpowers

[01:01:17] – Why he’s spent so much time exploring IAC/InterActiveCorp

[01:02:56] – Related companies to explore