I have provided 1) key takeaways on the business models, but also 2) key learnings for investing overall from each episode. I have also added transcripts. I love business deep-dives and this was a good way for me to learn about businesses across sectors in a generalist manner. Reading any of these will be a good source of ‘commerciality’ for you, allowing you to understand business models across sectors (an important skill for any investor).
Note: none of this is monetized, please see here a link to the podcast, which I encourage you to listen to and support.
Apollo: Connoisseurs of Complexity
Apollo: Connoisseurs of Complexity
Asset Management
March 14, 2025
208
APi Group: Safety Services at Scale
APi Group: Safety Services at Scale
IndustrialsConstruction
January 29, 2025
205
Informa: Where Industries Meet
Informa: Where Industries Meet
MediaInformation Services
November 27, 2024
192
Fastenal: A Nuts & Bolts Success Story
Fastenal: A Nuts & Bolts Success Story
IndustrialsDistributors
November 11, 2024
191
Sherwin-Williams: Brushstrokes of Success
Sherwin-Williams: Brushstrokes of Success
Chemicals
September 18, 2024
183
Rakuten: Rewiring Japan’s Digital Economy
Rakuten: Rewiring Japan’s Digital Economy
EcommerceInternetTechnology
November 11, 2024
182
Renishaw: The Precision Pioneers
Renishaw: The Precision Pioneers
SemiconductorsIndustrials
September 4, 2024
181
Rolls-Royce: Turbines and Tribulations
Rolls-Royce: Turbines and Tribulations
Aerospace & DefenceAutosIndustrials
July 17, 2024
174
Coupang: Korean E-Commerce Craze
Coupang: Korean E-Commerce Craze
EcommerceInternetTechnology
June 12, 2024
169
Lifco: Dentistry, Demolition, and Decentralization
Lifco: Dentistry, Demolition, and Decentralization
HealthcareIndustrialsConglomerates
June 5, 2024
168
InterDigital: Setting Wireless Standards
InterDigital: Setting Wireless Standards
TelCo
May 29, 2024
166
Bajaj Finance: Strategies of a Lending Gian
Bajaj Finance: Strategies of a Lending Gian
Fintech
May 22, 2024
165
British American Tobacco: Clearing the Air
British American Tobacco: Clearing the Air
AgrifoodTobacco
May 8, 2024
162
Mitsubishi Corporation: A Japanese Trading Company
Mitsubishi Corporation: A Japanese Trading Company
ConglomeratesIndustrials
March 27, 2024
156
Intuitive Surgical: Robotic Precision
Intuitive Surgical: Robotic Precision
Healthcare
March 20, 2024
155
Intel: Cyclical Recovery or Secular Demise?
Intel: Cyclical Recovery or Secular Demise?
Semiconductors
February 14, 2024
149
Arthur J. Gallagher: Insurance Broking
Arthur J. Gallagher: Insurance Broking
Insurance
February 7, 2024
148
Samsung: Semiconductors over Smartphones
Samsung: Semiconductors over Smartphones
ConglomeratesTechnology
January 31, 2024
147
Patek Philippe: Watch Perfection
Patek Philippe: Watch Perfection
LuxuryLuxury - Watches
January 24, 2024
146
Visma: Mission Critical European Software
Visma: Mission Critical European Software
Technology
January 17, 2024
145
Ferrari: Magic from Maranello
Ferrari: Magic from Maranello
LuxuryLuxury - AutosAutos
December 13, 2023
140
Charter Communications: Cable Cash Flows
Charter Communications: Cable Cash Flows
TelCo
December 6, 2023
139
Vistra Corp: Full Stack Energy Provider
Vistra Corp: Full Stack Energy Provider
EnergyRenewable Energy
November 29, 2023
138
Entegris: Solutions for Semiconductors
Entegris: Solutions for Semiconductors
SemiconductorsTechnology
November 22, 2023
137
Databricks: Data Based Decisions
Databricks: Data Based Decisions
DbaaSTech - Infrastructure
November 1, 2023
134
Kingspan: Influential Irish Insulation
Kingspan: Influential Irish Insulation
Construction
September 13, 2023
128
Casey’s General Stores: Fuelling Convenience
Casey’s General Stores: Fuelling Convenience
RetailConsumer
August 23, 2023
125
Argenx: Changing Lives with Llamas
Argenx: Changing Lives with Llamas
BiotechPharmaHealthcare
August 2, 2023
122
Lululemon Athletica: The Athleisure Leader
Lululemon Athletica: The Athleisure Leader
ConsumerRetail
July 19, 2023
120
Toast: The Restaurant Operating System
Toast: The Restaurant Operating System
TechnologyConsumerVertical Software
July 12, 2023
119
Roku: One Stop Streaming Shop
Roku: One Stop Streaming Shop
InternetTechnologyConsumer
June 21, 2023
116
First Citizens Bank: The Bank Buyers
First Citizens Bank: The Bank Buyers
Financial Services
June 7, 2023
114
PayPal: A Digital Money Marketplace
PayPal: A Digital Money Marketplace
Financial ServicesPayments
May 31, 2023
113
Restoration Hardware: Climbing the Luxury Mountain
Restoration Hardware: Climbing the Luxury Mountain
LuxuryHome FurnishingsConsumerRetail
May 24, 2023
112
FC Bayern Munich: The Best Run Club in Football
FC Bayern Munich: The Best Run Club in Football
Sports
May 10, 2023
110
Roper Technologies: Industrial Titan to Software Giant
Roper Technologies: Industrial Titan to Software Giant
IndustrialsTechnology
April 26, 2023
108
Electronic Arts: FIFA, The Sims, Madden and More
Electronic Arts: FIFA, The Sims, Madden and More
TechnologyGaming
April 12, 2023
106
Titan: A Golden Case in Indian Retail
Titan: A Golden Case in Indian Retail
RetailConsumerLuxury
April 5, 2023
105
The Walt Disney Company: An Entertainment Empire
The Walt Disney Company: An Entertainment Empire
Consumer
March 15, 2023
101
IPL: The World’s Fastest Growing Sports League
IPL: The World’s Fastest Growing Sports League
Sports
March 8, 2023
100
Wise: Moving Money Around the World
Wise: Moving Money Around the World
FintechPayments
March 1, 2023
99
Floor & Decor: Raising the Floor
Floor & Decor: Raising the Floor
IndustrialsHome-BuildersRetail
December 7, 2022
97
Constellation Software: Principled, Profitable, Permanent
Constellation Software: Principled, Profitable, Permanent
TechnologyVertical SoftwareRoll-Up
February 16, 2023
96
Qualcomm: Making Smartphones Smart
Qualcomm: Making Smartphones Smart
TechnologySemiconductors
February 1, 2023
95
Orangetheory Fitness: A Franchise HIIT
Orangetheory Fitness: A Franchise HIIT
FranchisingFitnessConsumer
January 27, 2023
94
WeChat: China’s Operating System
WeChat: China’s Operating System
TechnologySocial Media
January 18, 2023
93
DoorDash: Looking for Profitable Routes
DoorDash: Looking for Profitable Routes
Online GroceryTechnologyConsumer
December 14, 2022
88
Brookfield Asset Management: Alternative Cash Flows
Brookfield Asset Management: Alternative Cash Flows
Asset Management
November 25, 2022
85
Harvard Business Publishing: A Case Study
Harvard Business Publishing: A Case Study
ServicesPublishing
November 16, 2022
84
Old Dominion: Best in Class Trucking
Old Dominion: Best in Class Trucking
TruckingTransportation & Logistics
November 2, 2022
82
The Home Depot: The Pro Builder’s Choice
The Home Depot: The Pro Builder’s Choice
ConsumerRetailHome-Builders
November 2, 2022
81
Cameo: Monetizing Fame
Cameo: Monetizing Fame
TechnologyConsumerSocial MediaMarketplaces
October 26, 2022
80
Archaea Energy: Turning Pollution into Profit
Archaea Energy: Turning Pollution into Profit
Renewable EnergyEnergy
October 19, 2022
79
Spotter: Finding YouTube Creators
Spotter: Finding YouTube Creators
TechnologySocial Media
October 12, 2022
78
Intuit: An Operating System for Small Businesses
Intuit: An Operating System for Small Businesses
TechnologyVertical SoftwareFinancial Software
October 5, 2022
77
Trader Joe’s: Grocer to the Overeducated and Underpaid
Trader Joe’s: Grocer to the Overeducated and Underpaid
ConsumerRetailAgrifood
September 28, 2022
76
Polaroid: The Genius of Edwin Land
Polaroid: The Genius of Edwin Land
ConsumerFilm
September 21, 2022
75
GE: Lessons From the Rise and Fall
GE: Lessons From the Rise and Fall
IndustrialsManufacturingAviation
September 14, 2022
74
Atlas Copco: Sweden’s Best Kept Secret
Atlas Copco: Sweden’s Best Kept Secret
IndustrialsManufacturing
August 24, 2022
71
ChargePoint: Leading the EV Charge
ChargePoint: Leading the EV Charge
Electric VehiclesEnergyInfrastructureRenewable Energy
August 19, 2022
70
Union Pacific: Long Train Runnin’
Union Pacific: Long Train Runnin’
Transportation & Logistics
August 10, 2022
69
LVMH: The Wolf in Cashmere’s Conglomerate
LVMH: The Wolf in Cashmere’s Conglomerate
ConsumerLuxury
August 3, 2022
68
DuPont: Two Centuries of Chemistry
DuPont: Two Centuries of Chemistry
ChemicalsIndustrials
July 27, 2022
67
Charles Schwab: The 8 Trillion Dollar Gorilla
Charles Schwab: The 8 Trillion Dollar Gorilla
Asset Management
July 20, 2022
66
Dino Polska: Serving Small-Town Poland
Dino Polska: Serving Small-Town Poland
RetailConsumerConsumer - Grocery
July 6, 2022
64
Berkshire Hathaway: The Incomparable Compounder
Berkshire Hathaway: The Incomparable Compounder
Financial Services
June 29, 2022
63
Anduril: Building The Future of Defense
Anduril: Building The Future of Defense
IndustrialsAerospace & Defence
May 25, 2022
59
Goldman Sachs: Fortune Favors The Old
Goldman Sachs: Fortune Favors The Old
Financial Services
May 19, 2022
58
Baytex Energy: The Business of Oil & Gas
Baytex Energy: The Business of Oil & Gas
CommoditiesEnergy
May 4, 2022
57
AppLovin: Monetizing & Marketing Mobile Apps
AppLovin: Monetizing & Marketing Mobile Apps
Gaming
April 20, 2022
55
Block: Square, Cash App, and Economic Access
Block: Square, Cash App, and Economic Access
PaymentsFinancial Services
April 6, 2022
53
McKinsey & Company: The First Management Consultants
McKinsey & Company: The First Management Consultants
ServicesConsulting
March 30, 2022
52
Adyen: A First Principles Payment Platform
Adyen: A First Principles Payment Platform
PaymentsFintech
March 9, 2022
50
Cadence: Software Behind Semiconductor Design
Cadence: Software Behind Semiconductor Design
IndustrialsSemiconductors
March 2, 2022
49
The New York Times: The Empire Strikes Back
The New York Times: The Empire Strikes Back
Media
February 23, 2022
48
Basic-Fit: Increasing Returns to Scale
Basic-Fit: Increasing Returns to Scale
Consumer
February 16, 2022
47
Twitter: Towing the Clown Car out of the Goldmine
Twitter: Towing the Clown Car out of the Goldmine
Media
February 2, 2022
45
ViacomCBS: A Content King in the Streaming War
ViacomCBS: A Content King in the Streaming War
Media
January 26, 2022
44
NextEra Energy: The Renewable Leader
NextEra Energy: The Renewable Leader
EnergyRenewable Energy
December 8, 2021
38
Novocure: Using Physics to Fight Cancer
Novocure: Using Physics to Fight Cancer
PharmaHealthcare
December 1, 2021
37
AutoZone: Exemplary Capital Allocation
AutoZone: Exemplary Capital Allocation
IndustrialsAuto Parts
November 24, 2021
36
HelloFresh: Delivering on Process Power
HelloFresh: Delivering on Process Power
InternetTechnologyConsumerTransportation & Logistics
November 10, 2021
34
MongoDB: The Database Platform
MongoDB: The Database Platform
TechnologyDbaaSTech - Infrastructure
November 3, 2021
33
Universal Music Group: The Gatekeepers of Music
Universal Music Group: The Gatekeepers of Music
Media
October 27, 2021
32
John Deere: Centuries of Farming Innovation
John Deere: Centuries of Farming Innovation
AgrifoodIndustrials
October 13, 2021
30
Salesforce: The Cloud & SaaS Pioneer
Salesforce: The Cloud & SaaS Pioneer
CRMSaaSTechnology
October 6, 2021
29
Solana: Faster, Cheaper, More Scalable
Solana: Faster, Cheaper, More Scalable
Crypto
September 29, 2021
28
Taboola: The Open Web’s Suggestion Engine
Taboola: The Open Web’s Suggestion Engine
MediaInformation Services
September 22, 2021
27
Datadog: The Realtime Data Monitor
Datadog: The Realtime Data Monitor
SaaSTech - Infrastructure
September 8, 2021
25
Wyndham Hotels: Loyalty Matters
Wyndham Hotels: Loyalty Matters
Real EstateHotelsLeisure
September 1, 2021
24
Dexcom: Digitizing Diabetes Management
Dexcom: Digitizing Diabetes Management
Healthcare
August 25, 2021
23
SmileDirectClub: Closing the Gap with Affordability
SmileDirectClub: Closing the Gap with Affordability
Healthcare
August 18, 2021
22
Cardlytics: The Ad Platform with Purchasing Power
Cardlytics: The Ad Platform with Purchasing Power
Media
July 14, 2021
17
Invisalign: Patents, Patients, Profits
Invisalign: Patents, Patients, Profits
Healthcare
June 2, 2021
11
Visa: The Original Protocol Business
Visa: The Original Protocol Business
Financial Services
May 5, 2021
7
Cinnabon: The Omnichannel Approach to Indulgence
Cinnabon: The Omnichannel Approach to Indulgence
Consumer
April 21, 2021
5
Costco: Relentless Focus on the One Thing
Costco: Relentless Focus on the One Thing
ConsumerRetail
April 14, 2021
4
Chipotle: Simplicity as the Recipe for Success
Chipotle: Simplicity as the Recipe for Success
ConsumerRetail
April 7, 2021
2
