
About
Learn how companies work from the people who know them best. We do deep research and interview industry veterans, investment professionals, and business leaders to explain the inner workings of public stocks and private businesses. Every business has lessons and Breakdowns is here to highlight them.

Matt is the CEO of Colossus. Zack is the Chief Investment Officer of Shoni Holdings, a single family office.
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Business Breakdowns
Ep.150
HEICO: Parts for Planes
Eric Ruden is an Analyst at Ironvine Capital. We cover the market for aircraft parts and maintenance, how the Mendelson family have built HEICO into what it is today, and how its operating model compares with that of TransDigm.
02.21.2024

Business Breakdowns
Ep.92
Hermès: The Luxury Icon
Mark Urquhart is a partner at Baillie Gifford. We cover the brand's iconic handbags, how Hermès exudes exclusivity, and its potential for future growth.
01.11.2023

Business Breakdowns
Ep.151
Vulcan Materials: Rock On
Rob Hansen is a Senior Analyst at Vontobel Asset Management. We cover how Vulcan is crushing the competition in the construction aggregates market, the numerous applications of its products in critical infrastructure, and the excellent logistics that underpin its success.
02.28.2024
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Business Breakdowns
Ep.46
UPS: Leaders of the Package
Matt Reustle is CEO of Colossus and a former Transport analyst. We cover the factors behind the UPS approach of "bigger not better", Amazon's position in the parcel delivery market, and the secular shifts taking place in the industry.
02.09.2022

Business Breakdowns
Ep.45
Twitter: Towing the Clown Car out of the Goldmine
@Compound248 is an anonymous professional investor. We cover Twitter's history, why it's delivered negative returns since IPO, and why there are reasons to be optimistic about the platform going forwards.
02.02.2022

Business Breakdowns
Ep.44
ViacomCBS: A Content King in the Streaming War
Naveen Chopra is the CFO of ViacomCBS and Chris Marangi is co-CIO at Gabelli Asset Management. We cover the economics of a typical cable network channel, dive deep into the dynamics of content creation and capital allocation, and discuss ViacomCBS' transition into streaming.
01.26.2022

Business Breakdowns
Ep.43
Peloton: Reinventing the Wheel
Vinny Pujji is a partner at Left Lane Capital. We cover Peloton’s success in creating a new fitness category, the impact of the pandemic on its financials, and why it might make sense for Peloton to build its own music label.
01.19.2022

Business Breakdowns
Ep.42
Cannabis: Legalizing the Leaf
Jeff Hoffman is a co-portfolio manager at Marathon Partners Equity Management. We cover the size of the Cannabis industry today, the structural inefficiencies present in the market, and the anticipated path of regulatory changes.
01.12.2022

Business Breakdowns
Ep.41
Finch Therapeutics: Empowering Immune Systems
Mark Smith is the co-founder and CEO of Finch Therapeutics. We cover the importance of the microbiome, how Finch helps patients transform their lives, and what Mark has learned about the economics of drug development.
12.29.2021

Business Breakdowns
Ep.40
LSEG: More Than Meets the Eye
Nick Shenton is a fund manager at Artemis Investment Management. We cover LSEGs expansion from a regional stock exchange to a global financial infrastructure business, their mega acquisition of data business Refinitiv, and how the business is able to earn 90% gross margins.
12.22.2021

Business Breakdowns
Ep.39
The National Football League
Jay Kapoor is a General Partner at VSC Ventures. We cover the NFL's unique $15 billion business, what makes it stand out relative to other sports, and how it dominates linear TV.
12.15.2021

Business Breakdowns
Ep.38
NextEra Energy: The Renewable Leader
Mark Tomasovic is an investor at Energize VC. We cover the structure of the energy market, what’s changed in the renewables space over the past twenty years, and how NextEra deploys its cost of capital advantage.
12.08.2021

Business Breakdowns
Ep.37
Novocure: Using Physics to Fight Cancer
Bill Doyle is the Executive Chairman of Novocure. We cover the state of cancer treatment, Novocure's innovative new approach, and unique way they've structured their business model.
12.01.2021