Business Breakdowns

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 Reustle, Zack Fuss Hosts Matt Reustle, Zack Fuss

Matt is the CEO of Colossus. Zack is the Chief Investment Officer of Shoni Holdings, a single family office.

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

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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

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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

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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

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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

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Business Breakdowns

Ep.36

AutoZone: Exemplary Capital Allocation

Freddie Lait is the founder and CIO at Latitude Investment Management. We cover the ways in which AutoZone's customer focus echoes the best of Walmart and Costco, how the business generates some of the highest returns on capital in retail, and dive into their share buyback program.

11.24.2021

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Business Breakdowns

Ep.35

Amazon Aggregators: Buying Third-Party Sellers

Ali Hamed is a partner of CoVenture. We cover the three superpowers Amazon sellers have, why there’s only $8bn in funding for a market doing $50bn in EBITDA, and how Amazon Aggregators are structured and operate.

11.17.2021

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Business Breakdowns

Ep.34

HelloFresh: Delivering on Process Power

Dominik Richter is the CEO and co-founder of HelloFresh. We cover the challenges of scaling an operationally intensive business, why HelloFresh is more like CPG companies than grocery stores, and what he’s learned about brand building.

11.10.2021

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Business Breakdowns

Ep.33

MongoDB: The Database Platform

Ro Nagpal is an investor at Holocene Advisors. We cover Mongo’s creative approach to R&D, how database product advantages compound, and what protects Mongo from larger players like Microsoft and Amazon.

11.03.2021

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Business Breakdowns

Ep.32

Universal Music Group: The Gatekeepers of Music

Arman Gokgol-Kline is a partner and investor at Ruane, Cunniff & Goldfarb. We cover the ways music was sold historically, assess streaming's impact on the industry, and dive into UMG's place in the ecosystem.

10.27.2021

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