Best Colossus | Investing Podcasts (2025)

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GE Aerospace: Full Throttle - [Business Breakdowns, EP.235] 59:20

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13d ago59:20

59:20

Today we are breaking down GE Aerospace. We did cover GE several years ago, but that episode focused on Larry Culp's turnaround of the conglomerate. Ramesh Narayanaswamy, co-founder and portfolio manager of Tourbillon Partners, joins me to explore what is now a pure-play aerospace business. We discuss the unique dynamics of the aerospace supply cha…

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Alternative Investing: Alts For All - [Business Breakdowns, EP.234] 50:14

20d ago50:14

50:14

This is Matt Reustle. Today, we are back to talk about increased access to alternative investing. My guest is Josh Clarkson, managing director at Prosek Partners. You may remember that Josh joined us last year in our primer series on private credit. He is back today to discuss what this development could mean for all the counterparties involved. W…

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Robinhood: Mobile First, Margins Later - [Business Breakdowns, EP.233] 1:00:15

27d ago1:00:15

1:00:15

This is Matt Reustle. Today we are breaking down Robinhood. My guest is Arthur Olson, founding partner at Ravenswood Partners. We get into how Robinhood grew from a mobile-native brokerage idea that faced many challenges along the way into the third-largest broker in the USA. Arthur educates on how the business model has evolved and diversified awa…

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CompoSecure: Heavy Metal - [Business Breakdowns, EP.232] 56:08

1M ago56:08

56:08

This is Matt Reustle. Today we are breaking down CompoSecure, a company that manufactures premium metal credit cards and payment cards. My guest is Parsa Kiai, Managing Partner at Steamboat Capital. What really made Parsa the ideal guest is that he has a history with CompoSecure from before the Dave Cote era, which started sometime in 2024. We get …

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Amphenol: The Nervous System for Electronics - [Business Breakdowns, EP.231] 53:36

1M ago53:36

53:36

This is Matt Reustle. Today, we are breaking down the industrial giant Amphenol. Amphenol pairs two of my favorite business frameworks that are often discussed on Breakdowns. Firstly, I am drawn to any company that specializes in selling mission-critical parts, which represent a small percentage of a manufacturer's total production cost. And secon…

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Media M&A - [Business Breakdowns, EP.230] 46:42

2M ago46:42

46:42

This is Matt Reustle. Today, we are exploring the world of media deals. My guest is Blake Saunders. Blake has been in media investment banking for almost two decades. When I first met him, he was a banker, so I wasn't expecting to lean into this relationship, but I often introduce Blake to others as the banker. We delve into the current deal landsc…

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Exor: Fiat Crisis to Ferrari Glory - [Business Breakdowns, EP.229] 48:00

2M ago48:00

48:00

This is Zack Fuss. Today, we are breaking down Exor. The origins of Exor date back to the end of the 19th century when Giovanni Agnelli founded the Auto Company Fiat. Over the company's 100-year-old history, a lot has changed. While some of the core assets remain the same today, Exor serves as an investment holding company. Its largest and most no…

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WaterBridge: Oil and Water - [Business Breakdowns, EP.228] 1:03:57

2M ago1:03:57

1:03:57

This is Matt Reustle. Today we are breaking down the recent IPO WaterBridge. I am joined by James Davolos from Horizon Kinetics. We start with HK's history with these very unique businesses that are off the radar for many with TPL, Landbridge and now Water Bridge. James gets into the weeds and nuances of what this business actually doesa and why t…

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Mercado Libre: E-commerce Empire - [Business Breakdowns, EP.227] 1:13:08

3M ago1:13:08

1:13:08

This is Matt Reustle. Today we are breaking down the Latam e-commerce Giant, Mercado Libre. My guest is Daniel Wu of Bristlemoon Capital. I was introduced to MELI about 15 years ago when it was still the eBay of Latam, and similar to a place that you revisit after a long time away, MELI looks a lot different than those early days. Just consider t…

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Compass: Real Estate Revolution - [Business Breakdowns, EP.226] 1:02:51

4M ago1:02:51

1:02:51

This is Matt Reustle. Today, we are breaking down the real estate broker Compass. Compass itself is a fascinating business and historically a controversial stock. It was founded in 2012 by Robert Reffkin and has scaled in that short period of time to become the largest real estate brokerage in the United States. Geoff Collette, founder of Aeon Cap…

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PE Perspective on Insurance Brokers - [Business Breakdowns, EP.225] 58:35

4M ago58:35

58:35

This is Matt Reustle. Today's Breakdown caters to both public and private investors alike. My guest is Aaron Cohen, head of the Financial Services and Technology Group at GTCR, and our topic is insurance Brokers. I was initially intrigued by Aaron and GTCR after seeing their announced $13 billion sale of Assured Partners to Arthur J.Gallagher, an …

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CME Group: The House Always Wins - [Business Breakdowns, EP.224] 1:00:23

4M ago1:00:23

1:00:23

This is Matt Reustle and today we are breaking down the Chicago Mercantile Exchange. My guest is Adam Chandler, co-PM at Claremont Global, and together we get into the nitty gritty of exchanges. We all know how integral exchanges are to the financial system but we rarely stop to understand how they operate, how they make money, and how they shape …

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Agilent: Back To The Lab - [Business Breakdowns, EP.223] 41:31

4M ago41:31

41:31

This is Matt Reustle. Today, we are breaking down Agilent. If you aren't familiar with Agilent, it is a $30 billion market cap company at the time of this recording, and they focus on one of the more interesting niches: equipment and instruments sold into laboratories. Its equipment is being sold to the life sciences sector, diagnostics, applied c…

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Patek Philippe: Watch Perfection - [Business Breakdowns, REPLAY] 58:35

5M ago58:35

58:35

This is Matt Reustle. Today we are replaying our Breakdown of Patek Philippe. You never own a Patek Philippe. You merely watch over it for the next generation. I'll say it's the best marketing campaign in history, a campaign appropriate for the world's premier watchmaker and a watchmaker worthy of a Business Breakdown. Our guest today is John Reard…

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Alpha In Podcasts? - [Business Breakdowns, EP.222] 10:37

5M ago10:37

10:37

This is Matt Reustle. Today’s episode looks a little different. We are exploring whether podcasts can be a source of investment alpha, sparked by a Wall Street Journal article about portfolio manager Steve Schurr's success mining podcast transcripts for Millennium Management. I analyze performance data from over 200 companies covered on Business Br…

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Nexstar Media: Broadcasting's Biggest Bet - [Business Breakdowns, EP.221] 1:00:46

5M ago1:00:46

1:00:46

This is Zack Fuss. Today, we are breaking down Nexstar Media Group. Nexstar controls more local television stations than any other company in the US. This industry has experienced substantial consolidation, which has reshaped itself over the past decade and ultimately culminated in the emergence of businesses like Nexstar as the preeminent station…

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EQT: Returns at Scale - [Business Breakdowns, EP.220] 1:18:02

5M ago1:18:02

1:18:02

This is Matt Reustle. Today we are breaking down EQT, the Swedish global investment organization. Right off the top, I need to mention our guest today, Sean Barrett, who couldn't have been more perfect for this breakdown. Sean has been investing in the Alts since Blackstone christened this asset class just over a decade ago. Sean is the founder of…

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UnitedHealth Group: Beyond The Premium - [Business Breakdowns, EP.219] 1:04:50

6M ago1:04:50

1:04:50

This is Zack Fuss. Today, we're tackling a giant in a controversial and incredibly complex industry, UnitedHealth Group. At its recent apex, UNH was a half-trillion-dollar market cap business, the 15th largest listed business in the United States. Today, that market cap sits at just $275 billion. The company generates an excess of $400 billion in s…

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Moncler: The Après Playbook - [Business Breakdowns, EP.218] 59:03

6M ago59:03

59:03

Today we are breaking down Moncler, the high-end outerwear brand. Known for their down jackets and stylized M logo, it’s a mix of style and substance that blends into the brand history and evolution of Moncler. I am joined by Chris Davies, investment manager at Baillie Gifford to cover Moncler’s story, particularly in the hands of Remo Ruffini. We …

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Asurion: Retracing the Path to 100 times 50x with Irv Grousbeck - [50X, S2 EP.3] 59:24

6M ago59:24

59:24

Today’s episode is the finale of our season on Asurion, the world’s leading tech care company with more than 300 million customers. In an interview with legendary long-time director, Irv Grousbeck, we discuss Irv’s path to investing in Asurion, his stewardship across several cohorts of PE ownership, and compare Asurion to Irv’s previous power law e…

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Vulcan Materials: Rock On - [Business Breakdowns, REPLAY] 52:14

6M ago52:14

52:14

Today, we are replaying our Breakdown on Vulcan Materials. Vulcan is America's largest producer of construction aggregates. This includes all of the crushed rock, sand, and gravel, which gets used for the foundation of nearly everything around us. Think of all of the buildings, the roads, and the infrastructure that define the physical footprint of…

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Asurion: The Flywheel Era (‘01-‘07) with Kevin Taweel - [50X, Asurion S2 EP.2] 1:01:05

7M ago1:01:05

1:01:05

Today’s episode is the second in a series of three on Asurion, the world’s leading tech care company with more than 300 million customers. In an interview with Co-Founder and Chairman Kevin Taweel, we dive deep into Asurion’s divinely discontent culture, hyper-rational approach to talent management, growth over $1 billion in sales, and transformati…

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monday.com⁠: Work Management Software - [Business Breakdowns, EP.217] 1:17:01

7M ago1:17:01

1:17:01

Today we are breaking down the work management software platform monday.com. Founded in February 2012, today monday.com has a market cap of over $14 billion. The platform has transformed a simple task management tool to a versatile platform serving numerous industries and use cases. I am joined by Ben Hensman, Portfolio Manager of the Global Tech F…

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Interactive Brokers: Margin Masters - [Business Breakdowns, EP.216] 45:03

7M ago45:03

45:03

This is Zack Fuss. Today, we are breaking down Interactive Brokers, widely recognized as IBKR. Founded in 1978, Interactive Brokers evolved from a market maker on the American Stock Exchange to a global, cutting-edge electronic brokerage firm. Its founder, Thomas Peterffy, remains far and away its largest shareholder and has earned his place as one…

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Asurion: The Early Days (‘95-‘01) with Kevin Taweel - [50X, S2 EP.1] 1:08:42

7M ago1:08:42

1:08:42

Today’s episode is the first in a series of three on Asurion, the world’s leading tech care company with more than 300 million customers. In an interview with Co-Founder and Chairman Kevin Taweel, we explore Asurion’s scrappy origins in roadside assistance, acquisitive entry into handset insurance, contentious capital allocation decisions, and much…

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Chemed: Empire of Care - [Business Breakdowns, EP.215] 45:23

7M ago45:23

45:23

This is Zack Fuss. Today we are breaking down Chemed. Chemed represents the union of two seemingly distinct businesses: end-of-life healthcare and plumbing services. As our guest aptly puts it, old houses and old people. The two underlying businesses, VITAS and the widely recognized Roto-Rooter, both offer interesting stories in their own right. Th…

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Season 2: Asurion - (50X, Trailer) 2:40

7M ago2:40

2:40

50X is back for Season 2! This season centers on Asurion, the world’s leading tech care company with over 300 million customers. Hosted by Will Thorndike, author of The Outsiders and a co-founder at Compounding Labs, 50X aims to dissect the anatomy of investments that have appreciated at least 50-fold. We track the often circuitous route to excepti…

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Ecolab: Clean Machine - [Business Breakdowns, EP.214] 41:15

7M ago41:15

41:15

Today we are breaking down Ecolab, a global sustainability leader offering water, hygiene, and infection prevention solutions that protect people & the resources vital to life. As of this recording, Ecolab has a $66 billion market cap and protects over 36% of the world's packaged food supply and over 44% of the global milk supply. My guest is Todd …

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Snap-on: Tools of the Trades - [Business Breakdowns, EP.213] 46:22

8M ago46:22

46:22

Today, we explore the world of tools to break down Snap-on. Snap-on has been around for over 100 years and operates with over a $17 billion market cap. It has continuously evolved the straightforward model of selling tools to specialists, like mechanics, into a durable business model while carving out a leadership position in the professional tools…

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Goosehead: Insuring Coverage - [Business Breakdowns, EP.212] 1:09:07

8M ago1:09:07

1:09:07

Today we are breaking down Goosehead Insurance. I always enjoy hearing about how a new entrant has effectively carved out a niche in a world of incumbents and Goosehead fits that billing perfectly. I'm joined by Geoff Collette, founder and PM of Aeon Capital Partners, and he walks us through the story of Goosehead identifying a bottleneck in the ho…

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Compass: Meals for the Masses - [Business Breakdowns, EP.211] 58:14

8M ago58:14

58:14

Today, we are breaking down the food catering giant Compass Group. Whether it's your corporate cafeteria, the food stands at a sporting event, or the old hospital food tray, the food services industry is all around you. Compass is the giant in this space, with a history that dates back to the emergence of this outsourced trend. My guest is Asif Jee…

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EssilorLuxottica: Sight To Behold - [Business Breakdowns, EP.210] 44:25

8M ago44:25

44:25

Today we are breaking down EssilorLuxottica, a global leader in the eyewear industry, formed by the merger of Essilor and Luxottica in 2018. Today the business sports a nearly $130 billion market cap. EssilorLuxottica represents a vertically integrated business, encompassing design, manufacturing, distribution, and retail operations across both vis…

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Watsco: Air Apparent - [Business Breakdowns, EP.209] 55:54

8M ago55:54

55:54

Today we are breaking down Watsco, the market leader in HVAC distribution with a unique value proposition. If you've ever had an air conditioning issue, there's a decent chance it was a Watsco distributor on the other side of that phone call. My guests today are Lucy Adams, Investment Director at Caledonia Investments, and Alan Murran, Co-Head of P…

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Apollo: Connoisseurs of Complexity - [Business Breakdowns, EP.208] 1:13:28

9M ago1:13:28

1:13:28

Today, we are breaking down the global alternative asset manager, Apollo. I reflected on my personal experiences with Apollo for this episode, and there's a saying that hard work can beat talent when talent doesn't work hard. Well, Apollo has talent, and Apollo works really damn hard. They will do everything they can to protect their capital, so…

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Cognex: Vision Quest - [Business Breakdowns, EP.207] 43:45

9M ago43:45

43:45

Today we are breaking down machine vision leader, Cognex. Cognex Corporation is an American manufacturer of machine vision systems, software and sensors used in automated manufacturing to inspect and identify parts, detect defects, verify product assembly, and guide assembly robots. It is not your typical reoccurring revenue story. They are a self …

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Rolls-Royce: Turbines and Tribulations - [Business Breakdowns, REPLAY] 54:41

9M ago54:41

54:41

Today, we are breaking down Rolls-Royce. A fair warning to those expecting to hear about luxury automobiles, that division was split from this business in the 1970s. But as we discuss the history of Rolls-Royce on this episode, you will hear how the DNA of this company still ties together from its early 1900s origins. Our guest is Graeme Forster fr…

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AMETEK: Industrial Excellence - [Business Breakdowns, REPLAY] 54:11

10M ago54:11

54:11

Today, we are replaying one of our favorites, breaking down the industrial conglomerate AMETEK. AMETEK is a great pairing with last week's episode on Jack Henry. These are two businesses with very long track records executing a playbook. AMETEK is one of eight companies that Mark Leonard and his team at Constellation Software studied as they built …

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Jack Henry: VMS King - [Business Breakdowns, EP.206] 1:01:53

10M ago1:01:53

1:01:53

Today, we are breaking down Jack Henry. If you're not familiar with it, Mark Leonard of Constellation Software once referred to this business as their ‘gold standard.’ Jack Henry is a true best in class operator within the vertical market software space. To break down the business, I'm joined by Bob Desmond, Portfolio Manager and Head of Claremont …

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APi Group: Safety Services at Scale - [Business Breakdowns, EP.205] 50:33

10M ago50:33

50:33

This is Zack Fuss. Today, we are breaking down APi Group, a leading provider of life safety and specialty services to buildings and construction projects. While not necessarily a household name, APi's services play a vital role in the buildings where we live and work. With over 100 acquisitions under their belt, they've strategically built a busine…

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Kaspi.kz: The Kazakh Super-App - [Business Breakdowns, EP.204] 55:42

10M ago55:42

55:42

This is Zack Fuss. Today, we are breaking down Kaspi, a leading financial technology company based in Kazakhstan best known for its super app. Kaspi plays a central role in the lives of millions of Kazakh citizens by offering a seamless ecosystem that combines payments and digital wallets, e-commerce, and financial services. Its success is often at…

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Gaming Consoles Part 3: Nintendo - [Business Breakdowns, EP.203] 1:15:54

10M ago1:15:54

1:15:54

Today's episode is the third in our three-part miniseries on video game consoles. Here, we are breaking down Nintendo. Our guest is Ryan O'Connor, the founder of Crossroads Capital. He has a wealth of knowledge about Nintendo, and you will hear it throughout this episode. We discuss the history of the brand and business, including how it revitalize…

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Gaming Consoles Part 2: Sony - [Business Breakdowns, EP.202] 47:29

11M ago47:29

47:29

This is the second episode of our multi-part series on the video game console market. If you've yet to listen to Episode One, Sia Kamalie is the founder and fund manager at Skycatcher. Join me in breaking down the video game console market and his thesis for why it's an inflecting opportunity. In this episode, we go micro and Sia is back to break d…

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Gaming Consoles Part 1: The Thesis - [Business Breakdowns, EP.201] 54:07

11M ago54:07

54:07

Today's episode is the first in a multi-part series on the video game console market. Our guest is Sia Kamalie, the founder and fund manager at Skycatcher. Skycatcher describes itself as focused on capturing asymmetry at the internet frontier, and Sia has very strong conviction that the video game console market is entering a major paradigm shift w…

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Arm: The Silicon Blueprint - [Business Breakdowns, EP.200] 43:43

11M ago43:43

43:43

This is Zack Fuss. Today, we're breaking down Arm Holdings. Arm designs the architecture powering billions of devices, from smartphones and data centers to IoT devices and automotive systems. In this episode, we'll explore Arm's unique value proposition and how it thrives as a licensing giant in a market dominated by leading-edge manufacturers. To …

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Kering: It’s Gucci - [Business Breakdowns, EP.199] 45:27

11M ago45:27

45:27

Today, we are breaking down the global luxury group Kering. You know Kering from its brands Gucci, YSL, Bottega Veneta, Balenciaga, and the list goes on. It's a luxury house similar to LVMH, but LVMH over the past five years is up over 40% and Kering is down over 60%. To break down Kering, I am joined by Jonathan Eng, portfolio manager at Causeway.…

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2024 Anecdotes to Remember - [Business Breakdowns, EP.198] 42:00

11M ago42:00

42:00

Today we have a special year-end episode of Business Breakdowns, running through some of the best ideas that were featured on the podcast. The goal of the podcast is to detail whatever business we're covering that day. But when you think about the best investors, the best business builders, they're constantly borrowing insights from the success sto…

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FilterBuy: Fresh Air - [Business Breakdowns, EP.197] 51:22

11M ago51:22

51:22

Today we‘re breaking down FilterBuy. From time to time, I come across a compelling founder who is willing to cover everything about their business and David Heacock, founder of FilterBuy, is exactly that. We explored the psychology of David's transition from Goldman options trader to starting an air filter business in Alabama just over 10 years ago…

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Inditex: Fast Fashion - [Business Breakdowns, EP.196] 58:24

11M ago58:24

58:24

Today we are covering the world of fast fashion. If you don't know the name Inditex, you certainly know Zara, the core business inside Inditex. My guest, Alistair Wittet, recently launched Aecus Partners, an equity boutique specializing in European and global equities, and has followed Inditex for decades. He gets into how the company pivoted its b…

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Alternative Lending in Real Estate - [Business Breakdowns, EP.195] 1:01:35

12M ago1:01:35

1:01:35

Today we are breaking down commercial real estate lending with Josh Zegen, co-founder and managing principal of Madison Realty Capital. Josh and his team at Madison launched in 2004 and evolved from a hard money lender when there really was no alternative industry called commercial real estate lending. They've developed into a single-source capital…

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SpaceX: Rocket Ship - [Business Breakdowns, EP.194] 1:02:29

12M ago1:02:29

1:02:29

Today we are breaking down SpaceX. Luke Ward from Baillie Gifford was the perfect match for this episode, as he and his team first invested in SpaceX in 2018. We cover the story of SpaceX and its scientific magic, but we really key in on the business model. We focus on the cost curve of launches, separating manufacturing from reusability. Luke gets…