Podcasts about Colossus

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Best podcasts about Colossus

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Latest podcast episodes about Colossus

Invest Like the Best
Sam Englebardt and Richard Kim - Investing in Immersive Worlds - [Invest Like the Best, EP. 259]

Invest Like the Best

Play Episode Listen Later Jan 20, 2022 80:17


Today, my guests are Sam Englebardt and Richard Kim, general partners at venture fund, Galaxy Interactive. Having come from the media and finance sectors, respectively, Sam and Richard joined forces in 2018 to invest in their shared thesis that immersive digital experiences would become the dominant way people engage with each other in the future.   Our conversation centers around the evolution of art, finance, and gaming as they proliferate in Web3. Please enjoy my conversation with Sam and Richard.     For the full show notes, transcript, and links to mentioned content, check out the episode page here.   -----   This episode is brought to you by Canalyst. Canalyst is the leading destination for public company data and analysis. If you're a professional equity investor and haven't talked to Canalyst recently, you should give them a shout. Learn more and try Canalyst for yourself at canalyst.com/Patrick.   -----   This episode is brought to you by Levels. As one of their early access members, Levels was one of the most interesting products I've ever used. Levels is attempting to make continuous glucose monitoring mainstream by using real-time biosensors to see how food affects your health. If you want early access to become a Member of their private Beta, (the waitlist is currently at 150K+ people), use this link – levels.link/PATRICK   ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.    Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:02:50] - [First question] - Their thoughts on the digital art market [00:11:33] - What motivates traditional art collectors and what has been carried over into digital art [00:17:27] - Is there an attractive beta opportunity in the digital art space? [00:24:32] - Why investors should do more work understanding NFTs and ways to consider incorporating them into your portfolio [00:27:55] - The history of Galaxy and their thesis writ large  [00:33:09] - Exciting and terrifying aspects of the financialization of everything [00:37:27] - Places where inserting markets could be beneficial with Web3 [00:45:27] - Their perspectives on gaming as a subcategory of Web3 [00:51:38] - Tokenomics and the importance of building great game communities [00:59:18] - What we can learn from successful gaming companies and in-game monetization [01:04:19] - How Diablo 3's auction house detracted from the core player experience [01:06:36] - Where they disagree with the Web3 investing community [01:10:37] - The kindest things anyone has ever done for them

Business Breakdowns
Peloton: Reinventing the Wheel - [Business Breakdowns, EP. 43]

Business Breakdowns

Play Episode Listen Later Jan 19, 2022 53:44


This is Jesse Pujji, and today we're breaking down Peloton. Peloton was founded over ten years ago with the idea of making the best in-person gym classes available at home. By delivering eye-catching hardware and compelling content, it has since become the largest interactive fitness platform in the world with over 6 million members. Peloton's rise has not been without challenges, however, and the business's economic model is under debate as we speak.   To break down Peloton, I'm joined by my brother Vinny Pujji, partner at Left Lane Capital, a growth-stage investment firm focused on consumer businesses. We discuss Peloton's success in creating a new fitness category, the impact of the pandemic on its financials, and why it may make sense for Peloton to build its own music label. Please enjoy this breakdown of Peloton.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Tegus. Much of the foundational prep for these episodes starts with research on the Tegus platform. With Tegus, you can learn everything you'd want to know about a company in an on-demand digital platform. Investors share their expert calls, allowing others to instantly access more than 20,000 calls on Coinbase, Hinge Health, Farfetch, or almost any company of interest. All you have to do is log in. If you're ready to go deeper on any company and you appreciate the value of primary research, head to tegus.co/breakdowns for a free trial.   -----   This episode is brought to you by Quartr. With Quartr, you can access conference calls, investor presentations, transcripts, and earnings reports – straight from your pocket. Quartr is 100% free and includes companies from 12 markets including the US, the UK, Canada, India, and all the Scandanavian countries. Quartr is available for both iOS and Android, so check out the app today. -----   Business Breakdowns is a property of Colossus, LLC. For more episodes of Business Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @JoinColossus | @patrick_oshag | @jspujji | @zbfuss Show Notes [00:03:37] - [First question] - What Peloton is and what they do [00:04:59] - How most consumers experience their brand [00:05:40] - Their customer base and the size of their business today [00:06:22] - The founding story and what lead to Peloton  [00:10:10] - What business they started with and how they've expanded their offerings [00:12:03] - Complexities of direct to consumer hardware distribution [00:13:01] - Scope of the global fitness and wellness market writ large [00:14:42] - Unit economics of Peloton's business [00:19:03] - Contributing factors that draw on their cash and working capital  [00:22:46] - What would solve their current liquidity problem [00:25:11] - Their latest treadmill product and their subscription product [00:26:22] - Thoughts on why management has struggled with their forecasts [00:29:44] - The competitive landscape as it exists today and how they compete [00:33:16] - Whether or not Peloton will experience a boom and bust cycle [00:35:18] - What Peloton does very well that separates them from their competitors [00:36:52] - Gamifying fitness and incorporating a live feature [00:38:59] - How music plays into their business and its role in their future  [00:41:45] - Whether they are a subscription or hardware business [00:43:59] - What has to go right in order to scale their market cap in the next decade [00:45:08] - Their approach to marketing and what drives their engine [00:47:17] - What will have gone wrong if Peloton doesn't survive the coming decade [00:50:28] - What can we learn from Peloton

Invest Like the Best
Ricky Sandler - Building an Investment Compass - [Invest Like the Best, EP. 258]

Invest Like the Best

Play Episode Listen Later Jan 18, 2022 68:00


My guest today is Ricky Sandler, founder of Eminence Capital. Ricky is a hedge fund veteran managing over $8bn of assets across Eminence's strategies. We cover Ricky's evolution as an active investor, why he thinks this is a stock-picker's environment, and what keeps him competitive after a long and successful career. Please enjoy my conversation with Ricky Sandler.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by: Canalyst. Canalyst is the leading destination for public company data and analysis. If you're a professional equity investor and haven't talked to Canalyst recently, you should give them a shout. Learn more and try Canalyst for yourself at canalyst.com/Patrick.   -----   This episode is brought to you by Levels. As one of their early access members, Levels was one of the most interesting products I've used. Levels is attempting to make continuous glucose monitoring mainstream by using real-time biosensors to see how food affects your health. Using Levels made me realize how little we understand about what's happening in our bodies - and it was the only product that has ever made me willing to log food. If you want early access to become a member of their private beta, (the waitlist is currently at 150K+ people), use this link – levels.link/PATRICK   -----   Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.    Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:02:42] - [First question] Whether or not great investment firms should be led by a single investor [00:03:25] - Episodes where singular investment power has proven effective and powerful [00:05:06] - Where he finds joy in the investing process on a regular basis [00:06:19] - Ways he's learned to become better at guiding and helping teams he works with [00:08:14] - The most common types of fool's gold he comes across [00:11:00] - Evolution of the pricing mechanisms in ever-evolving markets [00:16:14] - Common features of a good mispricing opportunity [00:18:42] - How he interacts with other hedge funds and long-only investors [00:21:14] - An investor he often disagrees with but loves talking to  [00:22:13] - The investment he's most proud of historically [00:25:11] - What the healthy draw that keeps him coming back to investing is [00:28:31] - His opinion on crossover funds and their growing popularity [00:32:09] - What the world in 2022 looks like to him and what both excites and worries him [00:38:19] - Key contributors that influence liquidity and how it flows into equity prices [00:41:26] - A macro view of the healthcare sector and why it's so interesting today [00:42:59] - Lessons from the Titans [00:43:52] - Advice he'd give to younger investors for stepping into the space  [00:46:45] - The kindest thing anyone has ever done for him

Too Fat Dudez
Episode 513: The Carbonadium Octopus

Too Fat Dudez

Play Episode Listen Later Jan 18, 2022 68:07


Zach and Chad begin their Watch Along of the HBOMax and DC series from James Gunn, Peacemaker, starring John Cena!The Dudez also discuss the first look at Leslie Grace as Batgirl, rumors of Omega Red joining the MCU, and who could Tom Hanks theoretically play if he became part of the Marvel Cinematic Universe?Plus lots more banter!!!

Danger Room: The X-men Comics Commentary Podcast
The Beginning of the End, Pt. 2 – Bonus Content #99 – Danger Room #332

Danger Room: The X-men Comics Commentary Podcast

Play Episode Listen Later Jan 16, 2022 92:58


New Mutants #99, Excalibur #35, Wolverine #37, X-Factor #64, Spider-Man #8, New Warriors #9, Web of Spider-Man #75, Marvel Comics Presents #62 Theme Music: Lazlo Hollyfeld – Buffaloallamericacity

Business Breakdowns
Cannabis: Legalizing the Leaf - [Business Breakdowns, EP. 42]

Business Breakdowns

Play Episode Listen Later Jan 12, 2022 52:42


This is Jesse Pujji and today we are breaking down the emerging industry of cannabis. After spending decades as an illegal drug, US states have begun to make regulatory changes and build legalized marijuana marketplaces. To help me break down this market, I am joined by Jeff Hoffman of Marathon Partners Equity Management. Jeff is co-portfolio manager of a fund, which invests in US public cannabis companies. We discuss exactly what those regulatory changes look like, the difference between federal and state laws, and companies across the value chain that are showing up in public markets. I hope you enjoy this breakdown.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Tegus. With Tegus, you can learn everything you'd want to know about a company in an on-demand digital platform. Investors share their expert calls, allowing others to instantly access more than 20,000 calls on Coinbase, Hinge Health, Farfetch, or almost any company of interest. All you have to do is log in. If you're ready to go deeper on any company and you appreciate the value of primary research, head to tegus.co/breakdowns for a free trial. -----   This episode is brought to you by MITIMCo. As the endowment office of MIT, MITIMCo searches for investment firms that are focused on achieving exceptional long-term investment returns. MITIMCo's goal is to create long-term relationships. They will partner with firms as early as Day 1 and do not ask for general partner economics in return. Visit MITIMCo's website to learn more about their unconventional emerging manager approach, including examples of managers they have backed. While they only partner with a handful of new firms each year, they have also created and published resources for the broader universe of emerging managers to benefit from, making them even more unusual in the LP world. Visit www.mitimco.org to learn more. -----   Business Breakdowns is a property of Colossus, LLC. For more episodes of Business Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @JoinColossus | @patrick_oshag | @jspujji | @zbfuss Show Notes [00:03:40] - [First question] - What is cannabis and the current size of the industry today [00:05:44] - Differentiating between THC and CBD  [00:06:46] - Whether or not the whole market is growing writ large [00:08:08] - The history of cannabis, the changing legal landscape, and key players today [00:10:51] - What the argument was for making cannabis a schedule 1 narcotic [00:11:48] - Is cannabis addictive, objectively speaking? [00:13:27] - The differing levels of when cannabis is or isn't legal  [00:14:05] - Overview of the value chain involved in getting cannabis to a dispensary [00:15:18] - What an MSO is, how their operations work, and the marketplace today [00:20:31] - Regulatory catalysts that would allow this market to thrive [00:23:19] - The income statement of an MSO, their expenses, and how they differ from traditional businesses [00:26:44] - Different business models for MSOs depending on their geography  [00:29:31] - How the economics of MSOs compare to mom and pop shops  [00:31:30] - Normalizing margins and incentives to compete on price or participate in discount wars [00:33:48] - D2C, mobile-first, and delivery trends influencing distribution [00:35:53] - Whether or not cannabis is considered perishable  [00:36:43] - How the finance industry is evolving around cannabis  [00:38:44] - The role COVID played in helping the cannabis industry grow [00:41:03] - Will cannabis see a pullback in public interest as the world returns to normal [00:42:25] - Form factors to consider as the industry shifts from medical to mature markets [00:44:20] - What will have to happen for the cannabis market to excel in the coming decade [00:47:07] - How M&A might play out as the market continues to evolve [00:49:06] - Lessons for builders when it comes to the cannabis industry [00:51:54] - Learn more about the cannabis industry; marijuanamoment.net  

William Ramsey Investigates
Author Phillip F. Nelson on LBJ: From Mastermind to "The Colossus."

William Ramsey Investigates

Play Episode Listen Later Jan 8, 2022 91:59


Author Phillip F. Nelson on LBJ: From Mastermind to "The Colossus." www.lbjthemasterofdeceit.com

Web3 Breakdowns
ZenLedger: A Framework for Crypto Taxes - [Web3 Breakdowns, EP.05]

Web3 Breakdowns

Play Episode Listen Later Dec 31, 2021 40:44


Hello, this is Eric Golden and my guest today is Dan Hannum, the Chief Operating Officer of ZenLedger, a crypto tax software similar to TurboTax. Dan is here today to help us understand the evolving world of taxes and the impact on crypto, DeFi and NFTs.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here. -----   This episode is brought to you by Coinbase Prime. Coinbase Prime combines advanced trading, battle-tested custody, financing, and prime services in a single solution. Clients have used our comprehensive investing platform to execute some of the largest trades in the industry because we are the only publicly-traded company with experience trading and custodying crypto assets at scale. Get started with Coinbase Prime today at coinbase.com/prime.   -----   Web3 Breakdowns is a property of Colossus, LLC. For more episodes of Web3 Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @Web3Breakdowns | @ericgoldenx | @patrick_oshag    Show Notes [00:01:56] - [First question] - How the US tax code is currently structured as it relates to crypto [00:03:38] - Classifying cryptocurrencies and taxable events when using and trading them [00:07:24] - Assigning your cost basis based on your transaction  [00:09:53] - Structuring data reported from exchanges and how it's changed over time [00:13:09] - What the IRS was suing Coinbase for and why  [00:15:47] - Thoughts on DeFi and reporting transactions to the IRS [00:18:06] - Airdropped tokens and ways to think about them from a tax perspective [00:21:34] - Tax loss harvesting and crypto tax loopholes  [00:23:42] - Tax rates for individuals and companies being involved in crypto full-time   [00:25:42] - Writing off lost hard-wallets and reporting losses [00:29:54] - Burner addresses as proof of destruction or loss [00:31:23] - ZenLedger's customer base and a focus on retail investors [00:34:38] - Keep track of your transaction sources for aggregating your data [00:36:56] - What he's most excited to build over the next six months and next ten years

Business Breakdowns
Finch Therapeutics: Empowering Immune Systems - [Business Breakdowns, EP. 41]

Business Breakdowns

Play Episode Listen Later Dec 29, 2021 56:09


Today's episode is part business breakdown and part biology breakdown as we explore Finch Therapeutics and their novel work on the microbiome, which plays a crucial role in regulating our immune system.   To help break down these topics, I'm joined by Mark Smith, co-founder and CEO of Finch Therapeutics. Mark is a leader in the microbiome field and the perfect person to cross the bridge between business and science.   As Mark outlines, we've made a lot of progress in living longer, but we are yet to make significant steps to living better. In our discussion, we explore what the microbiome is, why it's so important, and the role that Finch plays in helping patients transform their lives. We then turn to the business side of developing therapeutics drugs and what Mark has learned there. Please enjoy this breakdown of Finch Therapeutics.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Brex. Brex began as the first corporate card for startups and now offers a full financial stack built for scale. Get 10-20x higher credit limits, uncapped rewards, easy deposits and payments, and expense management all in one. Grow your business faster with Brex.   -----   Scribe is the trusted transcription provider for the business and investing community. Scribe is designed to accurately transcribe messy, real-world audio and is unique in that it's optimized for the complexities of enterprise audio, such as company and product names, currencies, accents and numbers. Visit kensho.com/breakdowns to learn more and unlock your free trial.   -----   Business Breakdowns is a property of Colossus, LLC. For more episodes of Business Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @JoinColossus | @patrick_oshag | @jspujji | @zbfuss Show Notes [00:02:55] - [First question] - What is the microbiome? [00:04:56] - Where the microbiome is inside the body [00:06:42] - Overview of what bacteria is in general terms and what they do for us [00:10:44] - What would happen to a human that didn't have any bacteria [00:13:29] - Inflammatory auto-immune diseases and widespread antibiotics [00:14:32] - How seasonal allergies and gut bacteria are related [00:16:32] - Key contributors that have led to our current understanding of the microbiome [00:18:48] - Whether an absence or dominance of bacteria is more concerning [00:20:47] - The state of stool sample diagnostics today [00:22:52] - Tools available today for widespread microbial treatment and repair [00:24:48] - The science behind probiotics and whether or not they're worth it [00:27:00] - Fecal transplants and supporting empirical evidence of their efficacy [00:31:39] - Addressable conditions that Finch Therapeutics seeks to solve [00:35:27] - What the end game looks like and the timeline to achieve it [00:40:05] - Is there a future where we use these therapeutics preventatively? [00:41:22] - Key risks that could threaten the growth of Finch in the coming decade [00:43:10] - What it's been like running a company that is so different than its competitors [00:45:51] - Whether or not the regulatory and iterative pace of therapeutics will increase [00:48:19] - How much his lifestyle has changed given what he knows now in this field [00:50:50] - Other innovations taking place in the microbiome and related therapeutics [00:52:28] - What most has his attention outside of his field in health science today [00:53:24] - Learn more about the microbiome; I Contain Multitudes (book) [00:53:42] - The kindest thing anyone has ever done for him

Invest Like the Best
Orlando Bravo - The Art of Software Buyouts - [Invest Like the Best, EP. 257]

Invest Like the Best

Play Episode Listen Later Dec 28, 2021 65:12


My guest today is Orlando Bravo, co-founder and Managing Partner of leading private equity firm, Thoma Bravo. Thoma Bravo manages over $90bn of assets and is best known for investing in software and technology businesses. It was Orlando who led the firm's early entry into software buyouts some twenty years ago, and he has overseen more than 350 software acquisitions since. There are few, if any, people better placed to discuss private equity and software investing. Please enjoy this excellent discussion with Orlando Bravo.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Tegus. Tegus has built the most extensive primary information platform available for investors. With Tegus, you can learn everything you'd want to know about a company in an on-demand digital platform. Investors share their expert calls, allowing others to instantly access more than 20,000 calls on Affirm, Teladoc, Roblox, or almost any company of interest. All you have to do is log in. Visit tegus.co/patrick to learn more.   ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.    Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:02:36] - [First question] - His belief about an opportunity/capital mismatch in private equity [00:04:26] - Adjusting his own approach to take advantage of seemingly niche opportunities [00:06:13] - Differences between software businesses they invest in versus traditional ones [00:08:25] - Outline of how he runs their four-hour portfolio meetings [00:09:53] - Overview of the very first deal he ever made in the software sector [00:14:01] - The dissonance between the average SaaS company and the ones they try to manage [00:18:22] - Major contributors that allow for their higher margins [00:20:16] - Common mistakes of companies that mis-invest capital for growth only [00:22:28] - Defining what market leader means writ large [00:23:45] - Why the subsector of cyber security is such a good opportunity set [00:26:25] - The evolving nature of the private equity world in general [00:28:41] - Where returns will come from going forward [00:31:47] - How good the opportunity for returns in this style of investing today is [00:35:32] - Lessons learned on knowing when to exit or sell a position [00:37:59] - How short their holding periods can be and how much influence they can have in such a short time [00:40:04] - Surprising things about deal-making that he's learned over his career [00:41:20] - Difficulties and points of frictions in deals that still exist for him today [00:43:11] - What part of the deal-making process he loves the most [00:44:30] - If your job title has a C in it you're not allowed to complain about it [00:46:27] - Deeply held beliefs about operating excellence [00:47:33] - What the word service means to him given everything we've talked about  [00:50:27] - How we do a better job of inviting talent into this space [00:52:51] - How decentralization will define the 2020s and beyond [00:55:48] - What is most interesting about Web3 that might affect cyber security [00:57:42] - Where there is a lack in innovation in private equity today [01:00:45] - Advice for young talent for building their careers [01:03:16] - The kindest thing that anyone has ever done for him

Web3 Breakdowns
ENS: Ethereum Name Service - [Web3 Breakdowns, EP.04]

Web3 Breakdowns

Play Episode Listen Later Dec 24, 2021 71:01


This is Eric Golden, and today I'm covering Ethereum Name Service, also known as ENS. In non-technical terms, a naming service allows you to map human-readable words to computer-based numbers. Listeners are likely familiar with Domain Name Services, DNS, which translates a website name such as joincolossus.com into an Internet Protocol address. ENS is similar, but instead of mapping to an IP address, domains are mapped to Ethereum addresses. When I bought my ENS address, I assumed the use case was to rename my wallet and make it easier than memorizing a bunch of random numbers. But as you will hear on this episode, the use case goes well beyond naming a wallet.    To cover this wide-ranging topic, we called on a wide-ranging guest, Brantly Millegan, or better known as Brently.eth. We walk through the ENS backstory, why it seems to be winning over other blockchain-based naming services, and what the future may hold for ENS. There are some really interesting strategic points in this episode that listeners will appreciate. Please enjoy the conversation.  For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Coinbase Prime. Coinbase Prime combines advanced trading, battle-tested custody, financing, and prime services in a single solution. Clients have used our comprehensive investing platform to execute some of the largest trades in the industry because we are the only publicly-traded company with experience trading and custodying crypto assets at scale. Get started with Coinbase Prime today at coinbase.com/prime.   -----   Web3 Breakdowns is a property of Colossus, LLC. For more episodes of Web3 Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @Web3Breakdowns | @ericgoldenx | @patrick_oshag    Show Notes [00:02:37] - [First question] - Who he was before crypto and how he ended up there [00:04:56] - How he found his way into the ENS space  [00:05:40] - Overview of DNS and domain ownership as it exists today [00:08:48] - The Zooko triangle and how naming currently works [00:10:31] - Previous attempts at ENS and how they differ from its final form [00:14:07] - Deciding to build a system on top of the existing naming infrastructure [00:18:59] - Who has the rights under DNS to shut down domains or bad actors [00:20:59] - What you're buying when purchasing an ENS name [00:23:28] - How many years you can own your ENS name [00:24:16] - Are you renting the name or buying it [00:25:11] - Domain squatting and how they handle it today in this emergent space [00:29:21] - Why do different letters have different pricing schemes [00:30:25] - How much you can do with an ENS name [00:31:53] - Can ENS names be used as wallet addresses [00:33:18] - If he would have built it on a different blockchain if the project started today [00:35:06] - Name collisions, country domains, and working with Ethiopia  [00:40:53] - Whether or not there will be competitors in name services in the future [00:42:29] - Funding the project with grants and the capital that built ENS [00:46:47] - Forming their DAO and the responsibility of token ownership [00:48:44] - Arriving at the formula to distribute tokens to name holders [00:55:22] - Token holder influence over the project and internal voting [00:54:08] - Flipping tokens and long-term visions for the project [00:57:16] - The difference between a protocol and a product [00:58:23] - KYC, data privacy, and integrating ENS names for account logins [01:04:19] - How cautious one should be when using their name online [01:05:41] - What subdomains are and where they could take the project [01:07:36] - A future where everything on the planet is named and serialized [01:09:46] - What he's most focused on building over the next six months and next ten years

Monkey Off My Backlog
13 Days of X-Men: Deadpool 2

Monkey Off My Backlog

Play Episode Listen Later Dec 23, 2021 62:40


Tessa and Sam count down to Christmas Day with the X-Men franchise, spreading some holiday cheer along the way. We're almost to Christmas! Today, we're talking 2018's Deadpool 2 with special guest Jack! Come back tomorrow for Dark Phoenix!

Invest Like the Best
Nick Saltarelli - One Foot in Front of the Other - [Founder's Field Guide, EP. 54]

Invest Like the Best

Play Episode Listen Later Dec 23, 2021 69:01


My guest today is Nick Saltarelli, co-founder of the functional chocolate bar business, Mid-Day Squares. Nick started the company with his wife and brother-in-law a few years ago to build on a simple idea: if the big chocolate bar brands were to start today, what would they look like?   In our conversation, we discuss the importance of Mid-Day Squares' $100 million revenue target, what's wrong with the CPG industry today, and how to keep a long-term mindset while making the most of every day. Please enjoy this unique conversation with Nick Saltarelli.   For the full show notes, transcript, and links to mentioned content, check out the episode page here.   -----   This episode is brought to you by Pilot. Pilot handles your startup's finance, accounting, and tax prep needs, so you can focus on what matters most—building your business. Join over 1,000 startups that rely on Pilot to help them scale. Founder's Field Guide listeners get 20% off their first six months. Get in touch with Pilot at https://pilot.com/founders.    -----   Founder's Field Guide is a property of Colossus, LLC. For more episodes of Founder's Field Guide, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:02:01] - [First question] - What Mid-Day Squares is and how he started the business [00:04:48] - Why they're so publicly open about their company's goals [00:09:05] - Major lessons he learned from his father's early passing and being around very successful entrepreneurs at a young age  [00:16:51] - What long term thinking unlocks for him in short term progress [00:21:05] - Becoming unexpectedly close and learning from Rory Olson  [00:25:44] - What Rory taught him about deal-making [00:28:35] - Lessons from Rory about raising capital [00:33:25] - Opportunities in a seemingly oversaturated market like chocolate [00:42:46] - An example of doing something contrarian that worked out [00:47:11] - Their unique approach to marketing Mid-Day Squares [00:57:33] - Lessons learned about building a manufacturing operation after years in China [01:02:35] - What we can expect from Mid-Day Squares in the near future [01:06:59] - The kindest thing anyone has ever done for him [01:08:05] - Mid-Day Squares Uncensored Podcast

Media Democracy Pod
MD Christmas Special 2021

Media Democracy Pod

Play Episode Listen Later Dec 22, 2021 69:35


The Boris Johnson who bestrode British politics like a Colossus in 2019 is no more. In his place is a hapless figure, who can't seem to stop breaking his own regulations again and again last December. What happened? Why have the British public finally lost patience with him? Was it the media, by any chance? Tom and Dan come back to the Media Democracy studios to discuss the ongoing campaign by political insiders and their allies in the press to get Boris done.

Business Breakdowns
London Stock Exchange Group - [Business Breakdowns, EP. 40]

Business Breakdowns

Play Episode Listen Later Dec 22, 2021 52:01


Today, we'll be breaking down the London Stock Exchange, now referred to as LSEG. LSEG is a nearly £40 billion market cap business that plays an integral role in the infrastructure of the world's financial markets. Since 2000, there have been at least 11 attempts at mergers and takeovers of the business by other exchanges and banks. The company itself made a notable acquisition when it closed on its M&A of Refinitiv from Blackstone in January of this year. The company offers a wide range of services, financial markets, and data exchanges, which make it an essential player in the world's markets. To break down the business, Zack Fuss is joined by Nick Shenton of Artemis, a UK-based fund manager. For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Brex. Brex began as the first corporate card for startups and now offers a full financial stack built for scale. Get 10-20x higher credit limits, uncapped rewards, easy deposits and payments, and expense management all in one. Grow your business faster with Brex.   -----   This episode is brought to you by Scribe. Scribe is the trusted transcription provider for the business and investing community. Scribe is designed to accurately transcribe messy, real-world audio and is unique in that it's optimized for the complexities of enterprise audio, such as company and product names, currencies, accents and numbers. Visit kensho.com/breakdowns to learn more and unlock your free trial.   -----   Business Breakdowns is a property of Colossus, LLC. For more episodes of Business Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @JoinColossus | @patrick_oshag | @jspujji | @zbfuss   Show Notes [00:02:47] - [First question] - The industry LSEG operates in and its role within it [00:05:37] - How to think about LSEG as a business and what drives their growth [00:07:33] - The model that allows for such high profit and how its pieces work together [00:14:21] - Overview of the data analytics side of their business  [00:18:29] - Trading & banking as a key component of their data analytics revenue [00:22:09] - Its 300-year history and what has led them to become such a dominant player [00:29:25] - Thoughts on the Refinitive asset they've acquired and its role in future success [00:33:04] - Key factors that allow LSEG to sell in adjacent markets and their competitive advantage [00:38:57] - Drivers behind the growth of the digital financial market industry [00:41:26] - Structural risks that could impede LSEG's growth over the coming years [00:45:29] - Simplifying their story to help investors better understand their underlying growth [00:47:35] - Lessons for builders and investors when studying LSEG's story

Chris and Reggie's Cosmic Treadmill
Merry X-Lapsed - Uncanny X-Men #365

Chris and Reggie's Cosmic Treadmill

Play Episode Listen Later Dec 21, 2021 30:04


Welcome back to Merry X-Lapsed, where we're going to pop in on the criminally (?) short Kelly/Seagle era to dig into a Christmas Carol riff with a Russian twist!  Colossus is back in the mansion after a time away... and is being haunted by both stilted dialogue, and a Ghost of XMas Past! Who could it possibly be?  Oh, yew know... We'll talk a little bit about this era of X-Books (without context) and discuss the power of Guilt as story motivation!  It's tons of fun for everyone... I hope you'll join me! -- https://www.patreon.com/xlapsed X-Lapsed Voicemail: 623-396-5375 (or, 623-396-JERK) Twitter: @acecomics / Instagram: @90sxmen weirdcomicshistory@gmail.com chrisandreggie.podbean.com The All-New, All-Different chrisisoninfiniteearths.com facebook.com/groups/90sxmen

Invest Like the Best
Jenny Johnson - Seven Decades of Investing Expertise - [Invest Like the Best, EP. 256]

Invest Like the Best

Play Episode Listen Later Dec 21, 2021 63:09


My guest today is Jenny Johnson, President and CEO of one of the world's largest asset managers, Franklin Templeton. Jenny joined the business in 1988 and has worked in the organization ever since. In early 2020 she became CEO of Franklin, which now manages some $1.5 trillion. I should, of course, note that I met Jenny as our two firms explored a partnership, which we cemented 3 months ago when we announced that Franklin Templeton would be acquiring O'Shaughnessy Asset Management.   During our conversation, we discuss Jenny's thoughts on leadership, how she manages the needle-moving problem that afflicts many large companies, and the ways in which she sees private markets becoming more accessible to retail investors in the future. Please enjoy this great conversation with Jenny Johnson.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Tegus. Tegus has built the most extensive primary information platform available for investors.   With Tegus, you can learn everything you'd want to know about a company in an on-demand digital platform. Investors share their expert calls, allowing others to instantly access more than 20,000 calls on Affirm, Teladoc, Roblox, or almost any company of interest. All you have to do is log in. Visit tegus.co/patrick to learn more. -----   At WatchBox, the world's finest watches are at your fingertips with an ever-expanding collection of luxury timepieces, all certified authentic and collector quality. WatchBox's global team of expert client advisors is ready to help you find the watch you've always wanted. Step into the collector's circle at thewatchbox.com/patrick   ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.    Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:03:19] - [First question] - The four P's of leadership and what she thinks are the most important roles of a CEO  [00:06:00] - The difficulty of finding and recruiting great people and keeping them invested  [00:07:18] - Things she looks for in her senior leadership team [00:07:59] - Knowing when to be more or less involved as a leader [00:09:30] - Her takeaways from working in a family-owned business [00:11:20] - Advice she'd give to families who are building businesses together [00:12:06] - Thoughts on the role technology will play in the asset management industry [00:16:13] - Costs and frictions that blockchains could alleviate [00:18:17] - General views on disruption and considering ones position when thinking about the future [00:20:09] - Knowing when to start a project internally or acquire an existing project [00:23:10] - The hardest things about effective M&A decisions [00:23:42] - Overseeing a hybrid model of singular focus between multiple investment groups [00:28:26] - The pros and cons of active management against passive adoption [00:31:15] - Costs and fees in the industry and how they might change in the future  [00:33:04] - Talking to clients when they don't have one specific view on strategy [00:34:57] - When consensus is helpful and appropriate for making important decisions [00:36:10] - Formative experiences in her career that has shaped her worldview [00:38:34] - Managing emotions through seemingly chaotic situations [00:39:13] - The impacts on psychology when being a top performer and an average one [00:41:15] - Managing and adapting strategy when faced with highs and lows  [00:42:55] - Acquiring alternative managers and defining what alternative assets are [00:46:26] - Relevant trends on how capital is pooled and their client base over time [00:47:52] - What is under-discussed in the world of asset management today writ large [00:49:01] - Other leaders she's met or knows that have had her in awe [00:50:30] - What about Cathie Wood has made her story and approach so successful [00:51:38] - How she runs a great board meeting and ways to improve meetings themselves  [00:53:34] - Lessons learned about time management as the leader of a public company [00:54:52] - What purpose means to her  [00:56:18] - Ways we can incentivize young and new people to start investing [00:59:10] - Her favorite things that her dad has taught her and how she'd describe him  [01:00:57] - What has her most excited about the future   [01:01:34] - The kindest thing that anyone has ever done for her

Monkey Off My Backlog
13 Days of X-Men: Deadpool

Monkey Off My Backlog

Play Episode Listen Later Dec 20, 2021 53:23


Tessa and Sam count down to Christmas Day with the X-Men franchise, spreading some holiday cheer along the way. Next up, it's 2011's Deadpool. Come back tomorrow for X-men: Apocalypse with returning X-men superfan, Lozy!

Web3 Breakdowns
OpenSea: An Everything Store for Digital Assets - [Founder's Field Guide, Replay]

Web3 Breakdowns

Play Episode Listen Later Dec 17, 2021 50:58


Today, we are re-sharing our conversation with Devin Finzer, CEO and co-founder of OpenSea, from October this year. OpenSea is the world's largest NFT marketplace. In a journey that started like many other founders in the space, Devin went deep down the crypto rabbit hole in 2017 and became particularly fascinated with the potential behind digital assets. During our conversation, we touch on the origin story of OpenSea, how Devin differentiates between the spectrum of NFTs in the market, and what he sees as the opportunity in the future for the industry. We also talk about the various risks within a blockchain, from security dynamics to market speculation. I hope you enjoy this great conversation with Devin Finzer.   For the full show notes, transcript, and links to mentioned content, check out the episode page here.   -----   This episode is brought to you by Canalyst. Canalyst is the leading destination for public company data and analysis. If you've been scrambling to keep up with the deluge of IPOs and SPACs these days, Canalyst has models on Robinhood, Marqeta, Grab, and everything in between. Learn more and try Canalyst for yourself at canalyst.com/patrick.   -----   This episode is brought to you by Eight Sleep. Eight Sleep's new Pod Pro Cover is the easiest and fastest way to sleep at your perfect temperature. Simply add the Pod Pro Cover to your current mattress and start sleeping as cool as 55°F or as hot as 110°F. To embrace the future of sleep and get $150 off your new mattress go to eightsleep.com/patrick or use code "Patrick".   -----   Web3 Breakdowns is a property of Colossus, LLC. For more episodes of Web3 Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @Web3Breakdowns | @ericgoldenx | @patrick_oshag    Show Notes [00:02:56] - [First question] - When he first thought up the genesis of OpenSea [00:06:00] - What is listed on OpenSea, assets and volume, and the scope of the platform [00:07:26] - Thoughts on potentially becoming the current era “everything store” [00:09:22] - How they managed to become the main NFT trading platform [00:12:28] - What NFTs are, their various classes, and ways they're stored on the blockchain [00:15:25] - How much transaction and auction volume happens on-chain [00:17:07] - Profile picture style NFTs and what's exciting about them [00:19:24] - ArtBlocks and the mass interest in AI-generated art [00:21:22] - What he's learned and seen about the emerging crypto gaming space [00:24:38] - The user experience of buying an NFT on OpenSea [00:26:45] - How the ownership transfer works between wallets [00:28:04] - Whether or not they have plans to partner with other companies [00:30:32] - How they think about what gets placed on OpenSea and why [00:32:09] - Thoughts on take rate and their 2.5% take rate of transactions [00:33:22] - Why their take rate is so low compared to other sale platforms online [00:34:47] - OpenSea's relationship with the Ethereum blockchain and other integrations [00:36:50] - Perspective on wallets both as businesses and products [00:39:16] - Potential risks and the dark side of the unregulated NFT space [00:40:48] - The massive boom and bust cycles of crypto and the high prices of NFTs [00:41:59] - Interesting areas of Web3 that are in development today [00:44:19] - The project he's enjoyed watching grow the most in the crypto world [00:46:42] - What OpenSea might look like in the future if the best-case proves true [00:48:59] - The kindest thing that anyone has ever done for him

Happy Hour with Dennis and Erik
Ep. 137 – The Environmental Colossus

Happy Hour with Dennis and Erik

Play Episode Listen Later Dec 17, 2021


Buy a round! Become a Patron! Links Belgian Beer Glasses (Belgian Beer Factory) Succession (Wikipedia) On “Succession,” Jeremy Strong Doesn't Get the Joke (The New Yorker) Yesterday (Wikipedia) Buy a round! Become a Patron!

House Party Protocol
HPP 079 - Gambit and Colossus Try the Fastball Special (it‘s not the same!)

House Party Protocol

Play Episode Listen Later Dec 16, 2021 105:27


In this Episode, Will is joined by Arun from Web Warrior Protocols and Jon.  The guys start off this chonky episode with a discussion about the changes to Arun's Web Warriors roster and his and Jon's recent tournaments.  Then the gang takes a deep dive look into the recently revealed Colossus and Gambit cards.  They discuss ways to get the most out of each of these characters and some sneaky things you might be able to pull off with them. Enjoy! We have a Patreon Connect with us on Facebook @housepartyprotocol Discord - HPP_Greg or HPP_Will Email us - housepartyprotocolpod@gmail.com The Gamer's Guild Blacksitestudio.com - HOUSEPARTY15 War Colours BATerrain - Joshua Russell

Business Breakdowns
The National Football League - [Business Breakdowns, EP. 39]

Business Breakdowns

Play Episode Listen Later Dec 15, 2021 86:14


Today, we are breaking down The National Football League or, as most know it, The NFL. It's a sport that dominates American Sundays from late summer into early winter. Behind what happens on the field is a $15 billion dollar business with a unique operating and ownership structure and many stakeholders.    To help break down the NFL, Jesse Pujji is joined by Jay Kapoor. Jay is currently General Partner of venture fund VSC Ventures, and prior to his career as an investor, Jay worked in the League Strategy office at the NFL. During the conversation, we break down some of the fascinating dynamics of the NFL, including how it dominates linear TV, the unique revenue considerations for the league and its teams, and what makes the NFL stand out relative to other sports. I hope you enjoy this breakdown of the NFL.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Brex. Brex began as the first corporate card for startups and now offers a full financial stack built for scale. Get 10-20x higher credit limits, uncapped rewards, easy deposits and payments, and expense management all in one. Grow your business faster with Brex.   -----   Business Breakdowns is a property of Colossus, LLC. For more episodes of Business Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @JoinColossus | @patrick_oshag | @jspujji | @zbfuss   Show Notes [00:02:18] - [First question] - What is the NFL? [00:03:26] - The size and scale of the NFL as a business [00:04:55] - Points of growth on the league side and the team side [00:06:42] - The growth rate of the NFL over the past five years [00:07:24] - How many people are watching the NFL and the size of their audience [00:09:53] - The structure of the NFL compared to other major sports leagues [00:14:08] - Distribution of the revenue generated by media rights [00:15:53] - Other factors that make the NFL's model unique  [00:18:11] - How the NFL came to dominate the landscape of American sports [00:21:26] - When the NFL became bigger than the MLB and why [00:23:00] - How viewership and media rights have changed over the years [00:24:52] - Complexity of scheduling games and creating scarcity [00:26:14] - How the NFL Schedule is Created [00:27:43] - Additional sources of revenue at the league level [00:30:54] - Major costs to operate the NFL at the national level [00:31:50] - Contributing factors that make annual operating costs $1.5 billion [00:32:29] - How much it costs to run an NFL game [00:33:35] - Major drivers and ways to increase the topline of the business [00:36:09] - How much of the league revenue share is distributed to team owners and players [00:39:06] - Seat sales, boxes, and sponsorship revenue [00:40:40] - Who owns stadiums and an overview from a management and cost perspective [00:42:43] - Non-player related operating costs [00:45:46] - Operating leverage as an owner in this business [00:47:08] - What a commissioner is and the governance model of the NFL [00:51:31] - Overview of an executive team beneath the owners [00:53:01] - Collective Bargaining Agreements  [00:57:15] - How enterprise value is created and why it's growing so fast for the teams [00:59:11] - His perspective on comparing teams to assets generating revenue multiples [01:00:51] - Defining relevance in regards to the NFL and what it means for the future [01:04:39] - Plans to embrace a D2C model and the impact streaming might have on them [01:06:56] - How the Superbowl became such a pivotal sporting event and why they made it [01:11:35] - What will have to go right in order to grow exponentially over the coming decade  [01:17:34] - Potential risks and concerns that could negatively impact the NFL's growth [01:22:21] - A big lesson we can learn from the NFL for entrepreneurs [01:23:29] - Lessons for investors when studying the NFL [01:24:48] - Learn more about professional sports and the NFL; The Game Plan; Tailgating, Sacks, and Salary Caps (book)

The Besties
Shadow of the Colossus + Jet Set Radio = Solar Ash [The Resties]

The Besties

Play Episode Listen Later Dec 14, 2021 60:52


Ahead of The Besties selecting the Best Game of the Year, Frush and Plante predicted the winners of The Game Awards. Who made the best predictions? You'll have to listen to find out. But first, the duo discusses Solar Ash, a delightful open-world game that blends Jet Set Radio and Shadow of the Colossus.

The History of Computing
Of Heath Robinson Contraptions And The Colossus

The History of Computing

Play Episode Listen Later Dec 14, 2021 19:46


The Industrial Revolution gave us the rise of factories all over the world in the 1800s. Life was moving faster and we were engineering complex solutions to mass produce items. And many expanded from there to engineer complex solutions for simple problems. Cartoonist Heath Robinson harnessed the reaction from normal humans to this changing world in the forms of cartoons and illustrations of elaborate machines meant to accomplish simple tasks. These became known as “Heath Robinson contraptions” and were a reaction to the changing and increasingly complicated world order as much as anything. Just think of the rapidly evolving financial markets as one sign of the times! Following World War I, other cartoonists made similar cartoons. Like Rube Goldberg, giving us the concept of Rube Goldberg machines in the US. And the very idea of breaking down simple operations into Boolean logic from those who didn't understand the “why” would have seemed preposterous. I mean a wheel with 60 teeth or a complex series of switches and relays to achieve the same result? And yet with flip-flop circuits one would be able to process infinitely faster than it would take that wheel to turn with any semblance of precision. The Industrial Revolution of our data was to come. And yet we were coming to a place in the world where we were just waking up to the reality of moving from analog to digital as Robinson passed away in 1944 with a series of electromechanical computers named after Robinson and then The Colossus. These came just one year after Claude Shannon and Alan Turing, two giants in the early history of computers, met at Bell Labs. And a huge step in that transition was a paper by Alan Turing in 1936 called "On Computable Numbers with an Application to the Entscheidungsproblem.” This would become the basis for a programmable computing machine concept and so before the war, Alan Turing had published papers about the computability of problems using what we now call a Turing machine - or recipes. Some of the work on that paper was inspired by Max Newman, who helped Turing go off to Princeton to work on all the maths, where Turing would get a PhD in 1938. He returned home and started working part-time at the Government Code and Cypher school during the pre-war buildup. Hitler invaded Poland the next year, sparking World War II. The Poles had gotten pretty good with codebreaking, being situated right between world powers Germany and Russia and their ability to see troop movements through decrypted communications was one way they were able to keep forces in optimal locations. And yet the Germans got in there. The Germans had built a machine called the Enigma that also allowed their Navy to encrypt communications. Unable to track their movements, Allied forces were playing a cat and mouse game and not doing very well at it. Turing came up with a new way of decrypting the messages and that went into a new version of the Polish Bomba. Later that year, the UK declared war on Germany. Turing's work resulted in a lot of other advances in cryptanalysis throughout the war. But he also brought home the idea of an electromechanical machine to break those codes - almost as though he'd written a paper on building machines to do such things years before. The Germans had given away a key to decrypt communications accidentally in 1941 and the codebreakers at Bletchley Park got to work on breaking the machines that used the Lorenz Cipher in new and interesting ways. The work had reduced the amount of losses - but they needed more people. It was time intensive to go through the possible wheel positions or guess at them, and every week meant lives lost. Or they needed more automation of people tasks… So they looked to automate the process. Turing and the others wrote to Churchill directly. Churchill started his memo to General Ismay with “ACTION THIS DAY” and so they were able to get more bombes up and running. Bill Tutte and the codebreakers worked out the logic to process the work done by hand. The same number of codebreakers were able to a ton more work. The first pass was a device with uniselectors and relays. Frank Morrell did the engineering design to process the logic. And so we got the alpha test of an automation machine they called the Tunny. The start positions were plugged in by hand and it could still take weeks to decipher messages. Max Newman, Turing's former advisor and mentor, got tapped to work on the project and Turing was able to take the work of Polish code breakers and others and add sequential conditional probability to guess at the settings of the 12 wheels of an Enigma machine and thus get to the point they could decipher messages coming out of the German navy on paper. No written records indicate that Turing was involved much in the project beyond that. Max Newman developed the specs, heavily influenced by Turing's previous work. They got to work on an electro-mechanical device we now call the Heath Robinson. They needed to be able to store data. They used paper tape - which could process a thousand characters per second using photocell readers - but there were two and they had to run concurrently. Tape would rip and two tapes running concurrently meant a lot might rip. Charles Wynn-Williams was a brilliant physicist who worked with electric waves since the late 1920s at Trinity College, Cambridge and was recruited from a project helping to develop RADAR because he'd specifically worked on electronic counters at Cambridge. That work went into the counting unit, counting how many times a function returned a true result. As we saw with Bell Labs, the telephone engineers were looking for ways to leverage switching electronics to automate processes for the telephone exchange. Turing recommended they bring in telephone engineer Tommy Flowers to design the Combining unit, which used vacuum tubes to implement Boolean logic - much as the paper Shannon wrote in 1936 that he gave Turing over tea at Bell labs earlier 1943. It's likely Turing would have also heard of the calculator George Stibitz of Bell Labs built out of relay switches all the way back in 1937. Slow but more reliable than the vacuum tubes of the era. And it's likely he influenced those he came to help by collaborating on encrypted voice traffic and likely other projects as much if not more. Inspiration is often best found at the intersectionality between ideas and cultures. Flowers looked to use vacuum tubes where the wheel patterns were produced. This gave one less set of paper tapes and infinitely more reliability. And a faster result. The programs were stored but they were programmable. Input was made using the shift registers from the paper tape and thyratron rings that simulated the bitstream for the wheels. There was a master control unit that handled the timing between the clock, signals, readouts, and printing. It didn't predate the Von Neumann architecture. But it didn't not. The switch panel had a group of switches used to define the algorithm being used with a plug-board defining conditions. The combination provided billions of combinations for logic processing. Vacuum tube valves were still unstable but they rarely blew when on, it was the switching process. So if they could have the logic gates flow through a known set of wheel settings the new computer would be more stable. Just one thing - they needed 1,500 valves! This thing would be huge! And so the Colossus Mark 1 was approved by W.G. Radley in 1943. It took 50 people 11 months to build and was able to compute wheel settings for ciphered message tapes. Computers automating productivity at its finest. The switches and plugs could be repositioned and so not only was Colossus able get messages decrypted in hours but could be reprogrammed to do other tasks. Others joined and they got the character reading up to almost 10,000 characters a second. They improved on the design yet again by adding shift registers and got over four times the speeds. It could now process 25,000 characters per second. One of the best uses was to confirm that Hitler got tricked into thinking the attack at Normandy at D-Day would happen elsewhere. And so the invasion of Normandy was safe to proceed. But the ability to reprogram made it a mostly universal computing machine - proving the Turing machine concept and fulfilling the dreams of Charles Babbage a hundred years earlier. And so the war ended in 1945. After the war, The Colossus machines were destroyed - except the two sent to British GHCQ where they ran until 1960. So the simple story of Colossus is that it was a series of computers built in England from 1943 to 1945, at the heart of World War II. The purpose: cryptanalysis - or code breaking. Turing went on to work on the Automatic Computing Engine at the National Physical Laboratory after the war and wrote a paper on the ACE - but while they were off to a quick start in computing in England having the humans who knew the things, they were slow to document given that their wartime work was classified. ENIAC came along in 1946 as did the development of Cybernetics by Norbert Wiener. That same year Max Newman wrote to John Von Neumann (Wiener's friend) about building a computer in England. He founded the Royal Society Computing Machine Laboratory at Victory University of Manchester, got Turing out to help and built the Manchester Baby, along with Frederic Williams and Thomas Kilburn. In 1946 Newman would also decline becoming Sir Newman when he rejected becoming an OBE, or Officer of the Order of the British Empire, over the treatment of his protege Turing not being offered the same. That's leadership. They'd go on to collaborate on the Manchester Mark I and Ferranti Mark I. Turing would work on furthering computing until his death in 1954, from taking cyanide after going through years of forced estrogen treatments for being a homosexual. He has since been pardoned post Following the war, Flowers tried to get a loan to start a computer company - but the very idea was ludicrous and he was denied. He retired from the Post Office Research Station after spearheading the move of the phone exchange to an electric, or what we might think of as a computerized exchange. Over the next decade, the work from Claude Shannon and other mathematicians would perfect the implementation of Boolean logic in computers. Von Neumann only ever mentioned Shannon and Turing in his seminal 1958 paper called The Computer And The Brain. While classified by the British government the work on Colossus was likely known to Von Neumann, who will get his own episode soon - but suffice it to say was a physicist turned computer scientist and worked on ENIAC to help study and develop atom bombs - and who codified the von Neumann architecture. We did a whole episode on Turing and another on Shannon, and we have mentioned the 1945 article As We May Think where Vannevar Bush predicted and inspired the next couple generations of computer scientists following the advancements in computing around the world during the war. He too would have likely known of the work on Colossus at Bletchley Park. Maybe not the specifics but he certainly knew of ENIAC - which unlike Colossus was run through a serious public relations machine. There are a lot of heroes to this story. The brave men and women who worked tirelessly to break, decipher, and analyze the cryptography. The engineers who pulled it off. The mathematicians who sparked the idea. The arrival of the computer was almost deterministic. We had work on the Atanasoff-Berry Computer at Iowa State, work at Bell Labs, Norbert Wiener's work on anti-aircraft guns at MIT during the war, Konrad Zuse's Z3, Colossus, and other mechanical and electromechanical devices leading up to it. But deterministic doesn't mean lacking inspiration. And what is the source of inspiration and when mixed with perspiration - innovation? There were brilliant minds in mathematics, like Turing. Brilliant physicists like Wynn-Williams. Great engineers like Flowers. That intersection between disciplines is the wellspring of many an innovation. Equally as important, then there's a leader who can take the ideas, find people who align with a mission, and help clear roadblocks. People like Newman. When they have domain expertise and knowledge - and are able to recruit and keep their teams inspired, they can change the world. And then there are people with purse strings who see the brilliance and can see a few moves ahead on the chessboard - like Churchill. They make things happen. And finally, there are the legions who carried on the work in theoretical, practical, and in the pure sciences. People who continue the collaboration between disciplines, iterate, and bring products to ever growing markets. People who continue to fund those innovations. It can be argued that our intrepid heroes in this story helped win a war - but that the generations who followed, by connecting humanity and bringing productivity gains to help free our minds to solve bigger and bigger problems will hopefully some day end war. Thank you for tuning in to this episode of the History of Computing Podcast. We hope to cover your contributions. Drop us a line and let us know how we can. And thank you so much for listening. We are so, so lucky to have you.

Invest Like the Best
Doug Colkitt - The Evolution of Markets - [Invest Like the Best, EP. 255]

Invest Like the Best

Play Episode Listen Later Dec 14, 2021 77:08


My guest today is Doug Colkitt. Doug has spent his career searching for and trading inefficient markets, first at Citadel's high-frequency trading group, then for himself, and then as an operator building CrocSwap - a decentralized exchange or DEX designed to bring modern functionality to crypto markets, which is closer to what large traders have come to expect from a modern electronic market like the NASDAQ.    My interest in market infrastructure has continued to grow since my great conversation with FTX founder Sam Bankman-Fried. So my conversation with Doug covers the evolution of market and trading infrastructure. We unpack the trading stack as it exists today, dive into DeFi's innovations, and explore the new category of single contract DEXs that Doug is creating. After learning so much from Doug about how markets function and how crypto markets should function, I became an investor in his new business via my venture capital firm Positive Sum. Please enjoy this great conversation with Doug Colkitt.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Tegus. Tegus has built the most extensive primary information platform available for investors.   With Tegus, you can learn everything you'd want to know about a company in an on-demand digital platform. Investors share their expert calls, allowing others to instantly access more than 20,000 calls on Affirm, Teladoc, Roblox, or almost any company of interest. All you have to do is log in. Visit tegus.co/patrick to learn more. -----   At WatchBox, the world's finest watches are at your fingertips with an ever-expanding collection of luxury timepieces, all certified authentic and collector quality. WatchBox's global team of expert client advisors is ready to help you find the watch you've always wanted. Step into the collector's circle at thewatchbox.com/patrick   ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.    Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:03:31] - [First question] - Doug's career and history working with markets [00:08:55] - Defining what a trading stack is  [00:13:41] - How HFT firms are such reliable money-making models [00:16:27] - What's at the cutting edge of traditional markets that provides an edge [00:18:45] - The mechanical parts of infrastructure involved in building an exchange [00:21:00] - Classes of data that matter for operating an exchange [00:22:11] - Capacity and what good returns are as an HFT firm [00:28:45] - Overview of the mechanics of an AMM [00:31:53] - Earning a yield as a liquidity provider [00:33:59] - Other ways to think about AMMs and liquidity providers [00:36:42] - Key players in the AMM space and the evolution of them [00:41:20] - How asset holders can approach DEX tools and be liquidity providers [00:42:55] - The function of an exchange's native token [00:45:25] - Token distribution and how to earn them without buying them [00:48:31] - How you receive payment for providing liquidity [00:51:31] - What CrocSwap will do and what a single contract DEX unlocks [00:57:36] - How CrocSwap is able to do this when other exchanges can't [00:59:27] - What single contracts will improve for users  [01:00:43] - The impact CrocSwap will have for all participants writ large [01:02:28] - Whether or not CrocSwap will cultivate an ecosystem [01:03:30] - What's next for CrocSwap in the near future [01:04:58] - The promise of DeFi and the future of blockchain technology [01:07:04] - Whether or not DeFi is a threat to centralized exchanges [01:09:52] - Defining what MEV is and why it's important for DeFi [01:13:04] - Missing pieces in the DeFi world and how we can address them [01:15:24] - The kindest thing anyone has ever done for him

Web3 Breakdowns
Discord: Building the Third Place - [Founder's Field Guide, Replay]

Web3 Breakdowns

Play Episode Listen Later Dec 10, 2021 62:20


Today, we are re-sharing our conversation with Jason Citron, CEO and founder of Discord, from October last year. Discord is one of the largest and fastest growing social networks in the world. It started as a place for gamers to congregate online, but thanks to how easy it makes community building and its offering of text, audio, and video as means of communication, it has expanded far beyond gaming. It has the potential to become the default digital “third place” that we go to find belonging in a variety of online communities. With over 100 million active monthly users, it's also one of the most interesting communication services since the original social networks rose to power. Our conversation focuses on his background prior to Discord, Discord's founding and growth, its business model, how it has evolved over the past 8 years, and what the future holds for Discord. As we talked, I had this sense that I'd be willing to go work for Jason, and I think you'll see why. I hope you enjoy our wide ranging conversation. For the full show notes, transcript, and links to the best content to learn more, check out the episode page here. -----   This episode is brought to you by Microsoft for Startups. Microsoft for Startups is a global program dedicated to helping “enterprise-ready” B2B startups successfully scale their companies. If you're a founder running a B2B company targeting the enterprise, you should definitely check them out.    -----   This episode is also sponsored by Vanta. Vanta has built software that makes it easier to both get and maintain your SOC 2 report, at a fraction of the normal cost. Founders Field Guide listeners can redeem a $1k off coupon at vanta.com/patrick.    -----   Web3 Breakdowns is a property of Colossus, LLC. For more episodes of Web3 Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @Web3Breakdowns | @ericgoldenx | @patrick_oshag    Show Notes (3:17) – (First question) – Lessons from his time as a video game developer (7:58) – Going from game developer to game development platform (12:23) – From his first startup to Discord (16:33) – Expressing the hypothesis of discord (20:10) – How to know what signal to build upon (22:11) – Early adoption of Discord (26:17) – Getting the word out about Discord in the early days (30:43) – Creating more than just a platform, but creating a third place for people to congregate (32:38) – The Great Good Place: Cafes, Coffee Shops, Bookstores, Bars, Hair Salons, and Other Hangouts at the Heart of a Community (32:55) – The evolution and expansion of the types of community using their platform (37:27) – Discord's business model and how it's evolved (41:32) – Enhancing communication through Nitro (45:05) – Big principles for company building at Discord (51:22) – His thoughts around competitive advantage for the platform (52:55) – Creating a holistic experience for the users (55:45) – What bothers him the most when hiring (57:47) – Kindest thing anyone has done for him

Business Breakdowns
NextEra Energy: The Renewable Leader - [Business Breakdowns, EP. 38]

Business Breakdowns

Play Episode Listen Later Dec 8, 2021 43:55


I'm Zack Fuss and today we're breaking down NextEra Energy. NextEra is America's most valuable energy firm and consists primarily of two businesses; a high-quality regulated utility and a renewables business that is the world's largest generator of wind and solar energy. To help break down the business, I'm joined by Mark Tomasovic, an investor at Energize VC. In our conversation, we discuss the structure of the energy market, what's changed in the renewables space over the past twenty years, and how NextEra takes advantage of its cost of capital advantage. Please enjoy this breakdown of NextEra Energy.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Brex. Brex began as the first corporate card for startups and now offers a full financial stack built for scale. Get 10-20x higher credit limits, uncapped rewards, easy deposits and payments, and expense management all in one. Grow your business faster with Brex.   -----   This episode is brought to you by MITIMCo. As the endowment office of MIT, MITIMCo searches for investment firms that are focused on achieving exceptional long-term investment returns. MITIMCo's goal is to create long-term relationships. They will partner with firms as early as Day 1 and do not ask for general partner economics in return. Visit MITIMCo's website to learn more about their unconventional emerging manager approach, including examples of managers they have backed. While they only partner with a handful of new firms each year, they have also created and published resources for the broader universe of emerging managers to benefit from, making them even more unusual in the LP world. Visit www.mitimco.org to learn more.   -----   Business Breakdowns is a property of Colossus, LLC. For more episodes of Business Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @JoinColossus | @patrick_oshag | @jspujji | @zbfuss   Show Notes [00:03:16] - [First question] - Mark's background and how he thinks about the energy markets  [00:03:46] - A broad overview of the electricity market and how it's structured [00:05:22] - The value chain and production line of energy from facility to customer [00:06:59] - What informs how much an energy company is allowed to earn [00:09:16] - Unregulated versus regulated markets and the risks and benefits of both [00:11:29] - How the retail electric market looks today and alternative production methods [00:12:40] - NextEra's business fundamentals and their current scope and scale [00:14:45] - The two business arms of NextEra [00:16:00] - Inputs and costs of the low cost regulated utility side of NextEra [00:18:33] - NEER being the world's largest generator of wind and solar [00:19:43] - How they're able to get contracts and how they work  [00:20:03] - Comparison of revenue generated between their different branches [00:21:26] - How the regulated and unregulated arms work together for NextEra vs its competitors [00:22:30] - What their most important benchmark is and thoughts on gross margin and profits  [00:24:33] - Natural cost of capital advantage given the growing focus on ESG  [00:25:33] - How COVID impacted the energy space, specifically in electricity  [00:28:20] - Conventional energy production becoming more expensive in the near future  [00:30:10] - How reliant NextEra is on government subsidies   [00:31:20] - Where they spend all their revenue, the price of projects, and ROI [00:33:01] - How they evaluate projects  [00:34:19] - Structural differences in renewable energy business models today [00:36:18] - What could happen that could negatively impact NextEra's growth [00:38:22] - Considering risks when underwriting turbines  [00:39:15] - Is nuclear power a potential tail risk? [00:40:05] - Being forward-leaning when adopting digital technology and innovation [00:41:23] - Lessons that can be learned from NextEra for builders and investors

Invest Like the Best
Bill Gurley and Philip Rosedale - Back to the Future - [Invest Like the Best, EP. 254]

Invest Like the Best

Play Episode Listen Later Dec 7, 2021 76:30


My guests today are Philip Rosedale and Bill Gurley. Philip created Second Life in the early 2000s and helped build it into the largest virtual 3D world ever created at the time. Frequent listeners will recognize Bill, who was an investor in Second Life via Benchmark Capital. During the conversation, we cover the fascinating story of Second Life and the billion-dollar economy that persists through to this day. Bill and Phillip share their key learnings from the experience, including the importance of usability, their views of the current metaverse opportunity, and what excites them most about the current focus on virtual realities. If you're curious about what the metaverse might become, these two experts have seen much of this already and are kind to share their lessons with us. Please enjoy my conversation with Phillip and Bill.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Tegus. Tegus has built the most extensive primary information platform available for investors.   With Tegus, you can learn everything you'd want to know about a company in an on-demand digital platform. Investors share their expert calls, allowing others to instantly access more than 20,000 calls on Affirm, Teladoc, Roblox, or almost any company of interest. All you have to do is log in. Visit tegus.co/patrick to learn more.   -----   At WatchBox, the world's finest watches are at your fingertips with an ever-expanding collection of luxury timepieces, all certified authentic and collector quality. WatchBox's global team of expert client advisors is ready to help you find the watch you've always wanted. Step into the collector's circle at thewatchbox.com/patrick   ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.    Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:03:22] - [First question] - The origin story of Second Life and why they created it [00:05:38] - How many people were playing Second Life at its peak, the in-game economy and its growth trajectory [00:06:49] - The interface between the in-game currency and its function for players [00:10:53] - An example of early entrepreneurship and user-created IP in Second Life [00:12:13] - Was technology a rate limiter to success in such an early version of the metaverse? [00:14:35] - What was most exciting about creating it and it's early-stage potential [00:18:23] - Why Unity isn't more adopted by creators and players like Minecraft [00:24:42] - Defining what the metaverse means to each of them today  [00:28:50] - What Discord has taught them about aggregating people digitally [00:33:02] - Simultaneously crossing the digital chasm and the uncanny valley  [00:38:16] - Key differences between games and platforms and the role of purpose [00:42:04] - Why cryptocurrencies and blockchains haven't produced experiences akin to the virtual Travis Scott concert [00:47:13] - Why removing friction and centralizing financial structures can help growth and thoughts on play to earn gaming and user spending [00:53:27] - Digital asset ownership and digital trustless exchanges in the metaverse [00:57:30] - Pros and cons of today's speculative digital asset valuations [01:01:05] - Interesting pockets of opportunity that could benefit the metaverse ecosystem [01:04:28] - How they'd build and construct an ETF with metaverse exposure [01:07:18] - Thoughts on AR and VR and which holds more promise for public adoption  [01:08:02] - Surprising findings about the role audio plays in digital worlds   [01:10:23] - What they're watching most closely in this emergent sector [01:11:29] - Limitations of visual and sonic barriers when recreating real-world interactions  [01:12:42] - The kindest things anyone has ever done for them 

Danger Room: The X-men Comics Commentary Podcast
Family – Bonus Content – Danger Room #330

Danger Room: The X-men Comics Commentary Podcast

Play Episode Listen Later Dec 7, 2021 57:07


X-Factor #63, Excalibur #34, Thor #429, Web of Spider-Man #74, and Marvel Comics Presents #61. Theme Music: Lazlo Hollyfeld – Buffaloallamericacity

Waypoint Radio
Episode 446 - Who's Dune?

Waypoint Radio

Play Episode Listen Later Dec 3, 2021 92:10


Patrick is falling dangerously close to a genre he swears he'll never touch… MOBAs. He's been checking out Arcane, but instead of talking about it, Natalie, Rob, and Cado derail him into an extended news segment? Then, Cado's living his best hacker life in Midnight Protocol, a tactical hacking game you control completely from a command line prompt. After the break, Patrick is back on his platforming bullshit with Solar Ash, the new game from developer Heart Machine that's one part Jet Set Radio, one part Shadow of Colossus, and a whole bunch of parts awesome. Rob's rallying the troops in Company of Heroes 3 multiplayer alpha, the latest in the storied RTS franchise which is now getting a little bit better about giving newer players tools for learning. Then we dip into the question bucket and get to the bottom of Who is dune?Discussed: Midnight Protocol 19:14, Solar Ash 37:42, Company of Heroes 3 45:47, The Question Bucket 1:09:34 See acast.com/privacy for privacy and opt-out information.

Completely Arbortrary
The Colossus (Olive)

Completely Arbortrary

Play Episode Listen Later Dec 2, 2021 68:44


The olive (Olea europaea). What more needs to be said about this historic tree? This week, we dive into how it is grown, where, and how orchards have developed and changed throughout history. The wonderful history of the olive, its groves, and its future are the topic this week. Completely Arbortrary is produced by Alex Crowson and Casey Clapp Artwork - Jillian Barthold Music - Aves & The Mini Vandals Find additional reading at arbortrarypod.com Join the Cone of the Month Club patreon.com/arbortrarypod Find Arbortrary Merch at arbortrarypod.com/merch Follow our Instagram @arbortrarypod --- Support this podcast: https://anchor.fm/completely-arbortrary/support

X-Reads
Ep 64: Uncanny X-Men 230 - A Holiday Special featuring Jenny Van Dien & Michelle Prenez

X-Reads

Play Episode Listen Later Dec 1, 2021 69:13


Four close friends - Chris, Chandler, Jenny, & Michelle - all gather to reminisce about past holidays together all while recapping Uncanny X-Men 230. Longshot finds some talking jewelry and together the X-Men find a way to play Santa and deliver stolen items to the people who lost them. Lots of great Dazzler moments in this one!Follow our show to be alerted when new episodes appear the first and third Wednesday of the month. Follow us on social media @xreadspodcast on Twitter, Instagram, and Facebook. For business inquiries, email xreadspodcast@gmail.com

Business Breakdowns
Novocure: Using Physics to Fight Cancer - [Business Breakdowns, EP. 37]

Business Breakdowns

Play Episode Listen Later Dec 1, 2021 58:52


Today, we're breaking down Novocure, a global oncology company that has pioneered a new approach to cancer treatment. For over 100 years, the tools used to fight cancer have largely remained unchanged, but there are promising signs of a renaissance and Novocure is at the vanguard of that charge.   To explain the state of cancer research and how the business has developed over the past twenty years, I'm joined by Bill Doyle – Novocure's Executive Chairman. Please enjoy this breakdown of Novocure.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Brex. Brex began as the first corporate card for startups and now offers a full financial stack built for scale. Get 10-20x higher credit limits, uncapped rewards, easy deposits and payments, and expense management all in one. Grow your business faster with Brex.   -----   This episode is brought to you by the MIT Investment Management Company, known as MITIMCo. As the endowment office of MIT, MITIMCo searches for investment firms that are focused on achieving exceptional long-term investment returns. MITIMCo's goal is to create long-term relationships. They will partner with firms as early as Day 1 and do not ask for general partner economics in return.   Visit MITIMCo's website to learn more about their unconventional emerging manager approach, including examples of managers they have backed. While they only partner with a handful of new firms each year, they have also created and published resources for the broader universe of emerging managers to benefit from, making them even more unusual in the LP world. Visit www.mitimco.org to learn more.   -----   Business Breakdowns is a property of Colossus, LLC. For more episodes of Business Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @JoinColossus | @patrick_oshag | @jspujji | @zbfuss   Show Notes [00:03:05] - [First question] - The current state of cancer treatment today writ large [00:05:43] - What cancer is and how it becomes life threatening [00:06:38] - Why uncontrolled cell growth is so bad [00:07:27] - The main three ways we currently treat cancer  [00:11:29] - Whether or not there are targeted ways we can treat cancer like mRNA [00:14:08] - How we've historically detected cancer and what future detection could look like [00:17:12] - Death rates of cancer in the US annually and the business side as it stands today [00:18:20] - Key players in the cancer treatment space that serve patients [00:19:13] - The pioneering technology that Novocure created to treat cancer [00:22:38] - The mechanism that allows their tech to target the right cells [00:25:35] - Overview of the actual procedure that takes place with their therapy [00:28:36] - The impact and results of their new treatment method [00:33:37] - A future where we can take this in a prophylactic and preventive sense [00:34:44] - Why this approach to cancer treatment isn't more widely known and accepted [00:38:09] - Financials of Novocure and the opportunities it presents for their business [00:43:10] - How they spend their R&D dollars and horizontal and vertical growth [00:48:01] - Unique ways how they spend their revenue to scale their business [00:51:05] - Biggest criticisms of the size and scope of Novocure [00:52:18] - Broader business lessons learned while building a cancer treatment company [00:55:23] - The future of healthcare more generally and what has him most excited

Invest Like the Best
Francis Davidson - Design-led Hospitality - [Invest Like the Best, EP.253]

Invest Like the Best

Play Episode Listen Later Nov 30, 2021 53:22


My guest today is Francis Davidson, founder and CEO of the hospitality brand Sonder. Francis launched Sonder in 2013 as an alternative to traditional hotels and rentals with a specific focus on technology and design. During our conversation, we discuss where Sonder fits into the hospitality ecosystem and why design is so key to their offering. We also touch on Francis's unique views around customer-centric focus, the nuances of hiring a team, and how they approach decision-making. Please enjoy my conversation with Francis Davidson.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Canalyst. Canalyst is the leading destination for public company data and analysis. If you've been scrambling to keep up with the deluge of IPOs and SPACs these days, Canalyst has models on Robinhood, Marqeta, Grab, and everything in between. Learn more and try Canalyst for yourself at canalyst.com/patrick.   -----   At WatchBox, the world's finest watches are at your fingertips with an ever-expanding collection of luxury timepieces, all certified authentic and collector quality. WatchBox's global team of expert client advisors is ready to help you find the watch you've always wanted. Step into the collector's circle at thewatchbox.com/patrick   ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.    Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:02:38] - [First question] - Thoughts on the obligation of a business to deliver the best possible customer experience [00:03:43] - Making a decision that actively went against improving the customer experience [00:06:00] - What Sonder is and the key insight that led to building the business [00:08:43] - Ways they cut down costs by leveraging technology available today [00:10:44] - The economic model of the business and where it differs most from other hotels [00:12:15] - The journey of $100 coming in to Sonder and working through the company [00:13:20] - How the building or asset owner is integrated into the business model [00:14:18] - Network density and how he thinks about it when it comes to scaling Sonder [00:16:18] - His philosophy on design and why he thinks it matters in hospitality [00:18:05] - What you can overspend on and underspend on to keep a guest happy [00:21:05] - Making decisions on building in house or partnering to provide a new solution [00:22:29] - Do property owners dress up their own hotels or are there guidelines and retailers [00:23:51] - Lessons learned from working with overseas manufacturers [00:24:44] - The key levers that will drive the growth of Sonder [00:26:59] - What a typical occupancy rate is for them versus other hospitality options [00:28:23] - Category creation and design that influence and change how people behave [00:29:45] - Qualities of a new market and what drives success in attacking it [00:31:15] - His contrarian viewpoint on building a business and talent density [00:33:40] - The features of his job's product and the interview process [00:36:21] - Does everyone at a company need to be an A player? [00:38:00] - His philosophy on team culture and developing synchronicity [00:41:01] - Ways to build strategic competitive advantage inside of Sonder [00:43:22] - What the most successful version of Sonder will look like ten years from now [00:45:16] - New features and tech improvements that are coming soon he's excited about [00:46:48] - Trends in hospitality that have been accelerated and changed by COVID [00:48:36] - Growing changes in the glamping and nature-forward guest experiences [00:51:04] - The kindest thing that anyone has ever done for him 

Business Breakdowns
AutoZone: Exemplary Capital Allocation - [Business Breakdowns, EP. 36]

Business Breakdowns

Play Episode Listen Later Nov 24, 2021 56:09


I'm Zack Fuss, and today we're breaking down AutoZone, the leading retailer and distributor of auto parts in the Americas. From the outside, AutoZone might look like a dull business in a mature industry, but once you dive into the details, you quickly realize it's a hidden gem that echoes the best of Walmart and Costco, earns some of the highest returns on capital in retail, and has a long history of outsized shareholder returns.   To help break down the business, I'm joined by Freddie Lait, founder and CIO at London-based Latitude Investment Management. Please enjoy this fascinating breakdown of AutoZone.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Tegus. We created Business Breakdowns to uncover the lessons and frameworks behind every business, and that's what makes Tegus our perfect launch partner. Much of the foundational prep for these episodes starts with research on the Tegus platform.   With Tegus, you can learn everything you'd want to know about a company in an on-demand digital platform. Investors share their expert calls, allowing others to instantly access more than 20,000 calls on Coinbase, Hinge Health, Farfetch, or almost any company of interest. All you have to do is log in. If you're ready to go deeper on any company and you appreciate the value of primary research, head to tegus.co/breakdowns for a free trial.   -----   This episode is brought to you by Eight Sleep. Eight Sleep's new Pod Pro Cover is the easiest and fastest way to sleep at your perfect temperature. Simply add the Pod Pro Cover to your current mattress and start sleeping as cool as 55°F or as hot as 110°F. This holiday season Eight Sleep will be running their biggest sale of the year. To capture the savings be sure to visit eightsleep.com/patrick or use code "Patrick" this Black Friday or Cyber Monday.   -----   Business Breakdowns is a property of Colossus, LLC. For more episodes of Business Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @JoinColossus | @patrick_oshag | @jspujji | @zbfuss   Show Notes [00:02:58] - [First question] - The general state of the auto part industry and its key players [00:06:14] - Similar and differing characteristics of AutoZone, O'Reilly, and Advanced Autoparts   [00:08:04] - The history of AutoZone and how they got to where they are today [00:12:11] - ESLs involvement with AutoZone and notable moments from that partnership [00:13:29] - Unit economics, sales per store, how much a store costs, and general features [00:16:32] - Other retail businesses that rank close to the unit economics of AutoZone [00:17:43] - How a customer interacts with their business [00:19:40] - What is being sold that allows them to earn such high gross profits [00:20:57] - Ways AutoZone has kept their competitors at bay [00:23:05] - Additional opportunities in their systems that offer competitive advantages [00:24:18] - Low inventory turnover working in specialty retail merchandise [00:26:14] - How they manage their stock locally and regionally to ensure a reliable supply [00:27:36] - Supplier finance mechanics overview for retailers [00:29:12] - Some of the private label programs they've had success with [00:31:40] - Failure oriented parts and what products inhabit this category [00:32:58] - How management and integrated culture find opportunities in DIFM [00:36:08] - Moving up and down the call list and gaining favor as a retailer [00:38:45] - The threat electric vehicles might pose to Autozone [00:37:48] - Whether or not an eCommerce giant may penetrate and disrupt this sector [00:44:58] - Paths AutoZone has taken to return capital to its shareholders [00:49:21] - COVID's impacts and detriments to the business [00:53:04] - What we can learn as builders and investors from studying AutoZone's story

Invest Like the Best
Niraj Shah - Developing Every Skill - [Invest Like the Best, EP. 252]

Invest Like the Best

Play Episode Listen Later Nov 23, 2021 64:09


My guest today is Niraj Shah, the CEO and co-founder of Wayfair. Wayfair started life in 2002 as a collection of independent websites selling category-specific home furniture but became a one-stop-shop for the home category in 2011 when, at $500 million in sales, the team consolidated their 240 websites into Wayfair.com. Today, the business offers 22 million products from 16 thousand suppliers to more than 30 million customers.   During our conversation, we discuss how the competitive frontiers in e-commerce have changed, what it was like to build out a proprietary logistics operation, and what makes the home goods market more attractive than other physical goods markets. Please enjoy this great conversation with Niraj Shah.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Canalyst. Canalyst is the leading destination for public company data and analysis. If you've been scrambling to keep up with the deluge of IPOs and SPACs these days, Canalyst has models on Robinhood, Marqeta, Grab, and everything in between. Learn more and try Canalyst for yourself at canalyst.com/patrick.   -----   At WatchBox, the world's finest watches are at your fingertips with an ever-expanding collection of luxury timepieces, all certified authentic and collector quality. WatchBox's global team of expert client advisors is ready to help you find the watch you've always wanted. Step into the collector's circle at thewatchbox.com/patrick   -----   Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.    Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:02:50] - [First question] - The global supply chain and its issues today in 2021 [00:05:13] - Why he finds the ocean leg such a problematic area and how to resolve it [00:07:04] - Overview of the physical goods market around the world [00:10:50] - The role of magazines and devout subscribers in certain sectors  [00:11:50] - Are physical goods trends in flux or fairly steady and less geared to change [00:13:06] - From 240 separate websites into what became Wayfair as we know it today [00:16:36] - The competitive frontier of eCommerce in its early days and why they won  [00:18:29] - Expanded logistics control, developing their brand, and becoming Wayfair [00:21:40] - Aggressively building for the future as a public company with investors involved [00:27:23] - Key differences between Wayfair, IKEA, Restoration Hardware and others [00:34:22] - Other areas of interest and drivers of future investment opportunities for Wayfair [00:38:39] - What excellent marketing means to him and why Netflix does it so well [00:42:02] - The margin profile of Wayfair and all of its major components  [00:47:13] - Lessons learned from major mistakes while building the business [00:49:54] - Company culture and deliberately investing time and money into it [00:51:50] - Evaluating the importance and success of their adapt and grow philosophy [00:53:18] - How he would measure his own improvement as a CEO over time [00:55:17] - Thoughts on the dimension of competition as they scaled [00:56:57] - The most stressful episode of growing the business and what he learned  [01:00:16] - What the best outcome for Wayfair would look like in the future [01:01:38] - The kindest thing anyone has ever done for him

Danger Room: The X-men Comics Commentary Podcast
The Beginning of the End - Bonus Content - Danger Room #329

Danger Room: The X-men Comics Commentary Podcast

Play Episode Listen Later Nov 22, 2021 70:29


New Mutants #98, Wolverine #36, Fantastic Four #349, New Warriors #8, Marvel Comics Presents #60. Theme Music:Lazlo Hollyfeld – Buffaloallamericacity

Mac & Gu
X-Men Fantasy Draft (331)

Mac & Gu

Play Episode Listen Later Nov 19, 2021 54:46


We're joined by the TLDR Podcast for a draft of Mutants to form an X-Men team to perform missions and entertain!Who won the draft? Which mutant was a reach? Did we miss anyone?Join the conversation on Twitter: @MACandGUpodcastBUT WAIT, THERE'S MORE!We discuss the new 'Spider-Man: No Way Home' trailer, 'Red Notice' & MUCH MORE!

Chris and Reggie's Cosmic Treadmill
X-Lapsed, Episode 276 - X-Force #24

Chris and Reggie's Cosmic Treadmill

Play Episode Listen Later Nov 18, 2021 30:58


Today the Chronicler chronicles... and Colossus crushes!  As we (hopefully) approach the end of the Mikhail Rasputin/Cerebro Sword mishigas, our story is finally picking up a bit of steam.  Boy, will your humble host be happy when these books hit their 25th issues so maybe we can start getting some fresh content! Plus - Mailbag and the Rest! -- https://www.patreon.com/xlapsed X-Lapsed Voicemail: 623-396-5375 (or, 623-396-JERK) Twitter: @acecomics / Instagram: @90sxmen weirdcomicshistory@gmail.com chrisandreggie.podbean.com The All-New, All-Different chrisisoninfiniteearths.com facebook.com/groups/90sxmen

Invest Like the Best
Bored Ape Yacht Club -  [Web3 Breakdowns, EP. 1]

Invest Like the Best

Play Episode Listen Later Nov 18, 2021 51:56


Today, I am excited to share our newest show, Web3 Breakdowns. Similar to our Business Breakdowns series, Web3 will have it's own dedicated feed so make sure to hit this subscribe link or find it on your preferred podcast player. The first episode of Web3 Breakdowns covers Bored Ape Yacht Club. You will hear from guest, Eric Golden, who will also be coming back to host his own Web3 Breakdowns moving forward. We are sharing this first episode to make sure no one misses this launch.  ---- Welcome to our new show, Web3 Breakdowns. We want to be your on ramp into this new decentralized world, and through conversations with builders, creators, and investors, we will do our best to help you understand and navigate this emerging ecosystem. First up, we are breaking down the NFT project and cultural phenomenon, Bored Ape Yacht Club. To help break down Bored Apes, I am joined by Eric Golden, former Portfolio Manager at Fidelity and current Bored Ape owner. Eric and I start with an overview of the Bored Ape Yacht Club and his path to owning an NFT in the collection. We then use Bored Apes as a lens to understand how NFT projects are not just creating rare art but strong membership communities too. Beyond the cultural differences between NFT communities, it was fascinating to hear how projects are differentiating themselves with IP ownership, roadmaps, and DAOs. Please enjoy this breakdown of the Bored Ape Yacht Club. For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Coinbase Prime, an integrated solution that provides an advanced trading platform, secure custody, and prime services so you can manage all your crypto assets in one place.   Coinbase Prime fully integrates crypto trading and custody on a single platform while giving clients the market's best all-in pricing through their proprietary Smart Order Router and algorithmic execution. Coinbase Prime extends beyond individuals - with companies like Tesla and Microstrategy using the investing platform to execute some of the largest trades in the industry.    Coinbase is the only publicly-traded company with experience trading and custodying crypto assets at scale - build a unified investment portfolio with the most trusted name in crypto. Learn more by visiting coinbase.com/prime to get started.   -----   Web3 Breakdowns is a property of Colossus, LLC. For more episodes of Web3 Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @Web3Breakdowns | @patrick_oshag | @JoinColossus   Show Notes   [00:02:30] - [First question] - What the Bored Ape Yacht Club is [00:03:39] - Motivations for owning a Bored Ape compared to traditional art  [00:07:46] - The scope of prices, hierarchy, turnover, and trading overview of these NFTs [00:09:51] - Distribution of rarity and why it matters  [00:11:29] - How the project roadmap is managed by the member community [00:16:23] - Who are the members and the key stewards of steering the ship [00:18:08] - An example of a project where the owners don't own the IP of their NFT [00:20:56] - Underlying fundamentals and utility behind owning a Bored Ape  [00:26:36] - Thoughts on fungible tokens inside of non-fungible projects [00:29:06] - Ways to think about the value proposition of owning an Ape and an Ape token  [00:30:36] - Different options for minting NFTs and their pros and cons [00:34:36] - Literal mechanics of the minting process [00:36:59] - Smart contract mediating of combining NFTs to generate rare ones [00:39:20] - Building a bottom up brand and other examples of this trend [00:41:50] - Are NFTs just gambling, or will they become investable assets like physical art [00:46:09] - Blockchain infrastructure of the NFT space and whether it'll stay on Ethereum [00:48:48] - What makes the Bored Ape Yacht Club so innovative compared to other projects

Business Breakdowns
Amazon Aggregators: Buying Third-Party Sellers - [Business Breakdowns, EP. 35]

Business Breakdowns

Play Episode Listen Later Nov 17, 2021 62:14


I'm Jesse Pujji and this is Business Breakdowns. Today we are doing a different kind of breakdown.  We are covering an entire category, Amazon Aggregators. These are the companies that are buying up hundreds of Amazon's third-party sellers. The concept of Amazon Aggregators is relatively new, tracing back to 2018 with the founding of Thrasio, but the ecosystem is already huge and growing. Most recent numbers peg it at around $300bn dollars in revenue and growing faster than Amazon itself. These aggregators have unique moats and high-quality entrepreneurs.   To help break down the marketplace and business of acquiring Amazon storefronts, I'm joined by Ali Hamed, a partner of CoVenture, who is also a popular guest on Invest Like the Best. In our conversation, we discuss the three superpowers Amazon sellers have, why there's only $8bn in funding for a market doing $50bn in EBITDA, and we go into detail on how Amazon Aggregators are structured and operate. Please enjoy this unique breakdown on Amazon Aggregators.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Tegus. We created Business Breakdowns to uncover the lessons and frameworks behind every business, and that's what makes Tegus our perfect launch partner. Much of the foundational prep for these episodes starts with research on the Tegus platform.   With Tegus, you can learn everything you'd want to know about a company in an on-demand digital platform. Investors share their expert calls, allowing others to instantly access more than 20,000 calls on Coinbase, Hinge Health, Farfetch, or almost any company of interest. All you have to do is log in. If you're ready to go deeper on any company and you appreciate the value of primary research, head to tegus.co/breakdowns for a free trial.   -----   This episode is brought to you by Eight Sleep. Eight Sleep's new Pod Pro Cover is the easiest and fastest way to sleep at your perfect temperature. Simply add the Pod Pro Cover to your current mattress and start sleeping as cool as 55°F or as hot as 110°F. This holiday season Eight Sleep will be running their biggest sale of the year. To capture the savings be sure to visit eightsleep.com/patrick or use code "Patrick" this Black Friday or Cyber Monday.   -----   Business Breakdowns is a property of Colossus, LLC. For more episodes of Business Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @JoinColossus | @patrick_oshag | @jspujji | @zbfuss   Show Notes [00:03:23] - [First question] - What is an Amazon aggregator, and who sells through Amazon? [00:05:26] - The scale and size of the aggregator market in general [00:06:43] - The history of third-party sellers and the utility they offer Amazon [00:08:20] - When they started inviting third parties to join their network and their market share [00:09:47] - Amazon's 40% take-rate and overview of the economic structure [00:10:24] - How many individual storefronts exist and what they look like  [00:13:19] - Who is starting Amazon stores and an overview of a seller writ large [00:14:43] - The initial insight that led to incorporating third-party aggregators [00:21:17] - How many aggregators exist in the space today [00:24:41] - Why vertical integration isn't such a primary focus for aggregators [00:26:53] - Ways aggregators find businesses and how they tend to acquire them [00:31:29] - What the top 10 aggregators look like and their acquisition frequency [00:32:25] - The common value add aggregators deliver post-acquisition [00:34:30] - One of the weirdest things that's enhanced optimization and improved revenue [00:35:54] - What the org chart of an aggregator typically looks like [00:36:47] - Deal pipelines and other sales and marketing functions [00:40:22] - Interesting things in the space given how unique of a marketplace it is [00:43:57] - New innovations and secondary ecosystems emerging as a result of aggregators [00:45:13] - How an aggregator should think about Amazon and risks to their business [00:48:29] - Why Amazon won't use their data and customer ownership to own the market [00:50:10] - Macro and system risks that would threaten the success of this business model [00:52:35] - What keeps Amazon up at night and potential worries about aggregators [00:53:54] - Reasons why they would pass on an acquisition opportunity [00:55:32] - Contributing factors to explosive growth that exceeded expectations [00:58:10] - Biggest takeaways for builders and investors from 3rd party aggregators [01:01:04] - Where to learn more about Amazon's third-party aggregators

Invest Like the Best
Will Marshall - Indexing the Earth - [Invest Like the Best, EP. 251]

Invest Like the Best

Play Episode Listen Later Nov 16, 2021 49:52


My guest today is Will Marshall, the co-founder and CEO of Planet. Will founded Planet in 2010 with a small team of NASA scientists to build a constellation of satellites that would image the entire Earth every day. Since then, Planet has successfully built and deployed 450 satellites into space, which the company is using to create a time series of images for every place on Earth.   Our conversation covers the untold space story. How space is going through an internet moment where cost reductions and performance enhancements have led to a seismic shift in what's possible above our atmosphere, and how that can drastically improve life on Earth through unique datasets like the one Planet is piecing together.   Once you listen to Will speak about Planet's progress and mission, it's hard to think of a more underappreciated company in business today.   Please enjoy this great conversation with Will Marshall.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   ------   This episode is brought to you by Canalyst. Canalyst is the leading destination for public company data and analysis. If you've been scrambling to keep up with the deluge of IPOs and SPACs these days, Canalyst has models on Robinhood, Marqeta, Grab, and everything in between. Learn more and try Canalyst for yourself at canalyst.com/patrick.   ------   At WatchBox, the world's finest watches are at your fingertips with an ever-expanding collection of luxury timepieces, all certified authentic and collector quality. WatchBox's global team of expert client advisors is ready to help you find the watch you've always wanted. Step into the collector's circle at thewatchbox.com/patrick   ------   Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.    Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:02:57] - [First question] - His thoughts on the renaissance of the space industry [00:05:09] - The earliest days of Planet and why he started the business [00:09:22] - Unique data units captured by their satellites [00:11:21] - What might we know in fifteen years using satellite data that we don't today [00:13:35] - The real estate of space and interesting angles to consider  [00:15:59] - How customers interface with Planet and their early use cases [00:20:57] - Thoughts on the sovereignty of space and the laws that exist currently   [00:23:43] - Figuring out the dynamics and pricing of Planet's business model [00:27:34] - Examples of stress and tensions when working in space [00:29:08] - The future of privacy and concerns we should have there collectively [00:30:29] - Five different types of satellites and their functions [00:31:39] - The most sci-fi potential futures that Planet may unlock someday [00:32:54] - Indexing the Earth and using data to train machine learning algorithms [00:34:02] - What he's learned about Earth that is most surprising [00:37:12] - Contributing factors to a 70% decline in life on the planet in 40 years [00:38:35] - Ways that going public might impact Planet's long term goals [00:40:23] - The hardware story of building various prototypes of satellites [00:42:18] - How much is built in house versus outsourced to fabricate their satellites [00:43:48] - Complimentary space trends that are compounding beyond imagery [00:45:32] - Whether or not they plan on making their data open-source [00:47:15] - Democratizing their data and allowing other companies to build on top of it [00:48:30] - The kindest thing anyone has ever done for him

Dev Game Club
DGC Ep 283: Resident Evil 4 (part three)

Dev Game Club

Play Episode Listen Later Nov 10, 2021 77:09


Welcome to Dev Game Club, where this week we continue our series on Resident Evil 4. We talk about the new horror in the game, our systematic companion and the other NPC, look at the choice of paths, and then take the tram. Dev Game Club looks at classic video games and plays through them over several episodes, providing commentary. Sections played: To Chapter 3 Issues covered: remembering the game, recovering the map, El Gigante reveal, stabbing the creature in the back, getting to no health but being allowed to recover, taking big swings early, foreshadowing traps and the dog, the systematic companion, the church and navigating to Ashley, the quality of the puzzles and being more grounded, the emergence of the Las Plages virus, introducing the enemies, reuse of gameplay objects in the siege, ugh-inducing achievement names, losing Ashley to the Gigante, the many ways Ashley interacts with the game, mechanical/narrative consonance, being introduced to interactions before you have Ashley to interact with them, being able to plan and having accommodations for the plan and executing the plan, maximizing the amount of play you can get from a space, having an apparent plan but being unable to pay it off because of camera movement, changing the camera to be lower in the El Gigante fights, the difficulty of the tram section, the accuracy of the Wii version, another potential way to play BioShock, the soft way BioShock reinforces whether you should deal with the Little Sisters, systems and endings, the interconnectedness of RE4, modality of fire and move at the same time being key to the pacing, finding all the little things in a game you love, tapping A once or twice for slow or fast doors, returning to Ordinary, Games, people, and influences mentioned or discussed: Zachary, God of War, Ico, Shadow of the Colossus, Leon: The Professional, DayOfTheDan, The Lonely Island, Andy Samberg, Popstar: Never Stop Never Stopping, Mark Garcia, BioShock, Dishonored II, Wildermyth, Janine Hawkins, Walker Farrell, David Graeber, Debt: The First 5000 Years, Zachary Crownover, Sam, Grim Fandango, Silent Hill, Control, God of War (2018), Kirk Hamilton, Aaron Evers. Next time: More RE4! Links: "Play" in evolutionary science Death animations in RE4 Sam Thomas's RE4RL game and trailer Twitch: brettdouville or timlongojr, instagram:timlongojr, Twitter: @timlongojr and @devgameclub DevGameClub@gmail.com

Business Breakdowns
HelloFresh: Delivering on Process Power - [Business Breakdowns, EP. 34]

Business Breakdowns

Play Episode Listen Later Nov 10, 2021 63:53


Today, we're breaking down HelloFresh. HelloFresh delivers weekly meal kits to people's homes. With eight million active customers, the Berlin-based business is the most popular company of its kind in the world.   To break down HelloFresh, I'm joined by its CEO and co-founder, Dominik Richter. We discuss 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.   Meal-kits are a notoriously difficult business model to get right and this is a great example of process power; a competitive advantage you don't come across often. Please enjoy this great breakdown of HelloFresh.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Tegus. We created Business Breakdowns to uncover the lessons and frameworks behind every business, and that's what makes Tegus our perfect launch partner. Much of the foundational prep for these episodes starts with research on the Tegus platform.   With Tegus, you can learn everything you'd want to know about a company in an on-demand digital platform. Investors share their expert calls, allowing others to instantly access more than 20,000 calls on Coinbase, Hinge Health, Farfetch, or almost any company of interest. All you have to do is log in. If you're ready to go deeper on any company and you appreciate the value of primary research, head to tegus.co/breakdowns for a free trial.   -----   This episode is brought to you by MIT Investment Management Company (MITIMCo), the endowment office of MIT. MITIMCo seeks to find people who are focused on achieving exceptional long-term investment returns, partner with these firms early, and stick around for the very long term. Visit mitimco.org and their new emerging managers page to learn more.   -----   Business Breakdowns is a property of Colossus, LLC. For more episodes of Business Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @JoinColossus | @patrick_oshag | @jspujji | @zbfuss   Show Notes [00:04:07] - [First question] - What HelloFresh does for its customers [00:05:53] - How many meals are delivered a year and the scale of the business today [00:07:08] - The full customer experience of ordering a meal kit for the week [00:08:03] - What the original service was and the original version of their product [00:10:26] - Overview of the business from a P&L standpoint [00:14:09] - Their centralized and widespread manufacturing plants  [00:16:35] - Attributes of a good recipe that benefits both the customers and the business [00:18:32] - Thoughts on the cost of ingredients and how they impact everything [00:20:43] - How the HelloFresh supply chain differs from traditional ones [00:23:58] - The magnitude of waste and its impact on gross margins [00:27:38] - Identifying customers, acquiring them, and retaining them [00:30:52] - Why other meal kit companies have seemingly done poorly [00:35:53] - Differences in the customer experience of HelloFresh subscribers that allowed them to thrive [00:38:38] - Managing a business that's dependent on process power and balancing which levers to pull and when [00:41:24] - An example of a decision made to improve tiny percentages of performance [00:44:17] - How a world returning to normal might impact their pandemic propelled growth [00:47:22] - Thoughts on potentially expanding to private supply and distribution [00:50:23] - Lessons learned about successful advertising, branding, and marketing [00:52:41] - Key variables in HelloFresh's growth for the coming years [00:57:10] - What drives the decision to acquire and build a portfolio of brands [01:00:01] - The biggest risks that the business might face in the future [01:02:27] - What his favorite meal is from their menu and why

Invest Like the Best
Roelof Botha - Sequoia's Crucible Moment - [Invest Like the Best, EP. 250]

Invest Like the Best

Play Episode Listen Later Nov 5, 2021 67:32


My guest today is Roelof Botha, a partner at one of the world's oldest and most successful venture firms, Sequoia Capital. A few days ago before I sat down with Roelof, he announced Sequoia's boldest innovation since the firm was founded by Don Valentine in the early 1970s. Going forward, the firm will break from the traditional VC mould of fund cycles and instead restructure around a single, open-ended, permanent structure named The Sequoia Fund.   In our conversation, we first discuss the details of this change from all different angles and then dive into Roelof's career. We talk about what's changed over the past twenty years, his days at PayPal, what legendary investors he's worked with have had in common, and what he's learned from being involved in businesses like Square, YouTube, and Unity.   Please enjoy this great conversation with Roelof Botha.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   ------   This episode is brought to you by Canalyst. Canalyst is the leading destination for public company data and analysis. If you've been scrambling to keep up with the deluge of IPOs and SPACs these days, Canalyst has models on Robinhood, Marqeta, Grab, and everything in between. Learn more and try Canalyst for yourself at canalyst.com/patrick.   ------   At WatchBox, the world's finest watches are at your fingertips with an ever-expanding collection of luxury timepieces, all certified authentic and collector quality. WatchBox's global team of expert client advisors is ready to help you find the watch you've always wanted. Step into the collector's circle at thewatchbox.com/patrick   ------   Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.    Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:02:53] - [First question] - What led Sequoia to change their structure [00:05:53] - Parallels between their approach and the problem Square set out to solve [00:07:36] - The mechanics of the new fund and how it'll affect their clients [00:10:42] - How much discretion LPs will have when choosing to participate in sub-funds [00:13:11] - What the future looks like and how public securities could be a dominant force [00:15:02] - Benefits and value-unlocks that the new fund offers that weren't available before [00:16:55] - Comparing their structure to the current crossover funds we see emerging [00:18:21] - What alignment looks like in this new structure for LPs [00:22:02] - Cost of capital, interest rates, and their impacts on rates of return [00:25:39] - Changes in the industry and founders that he's noticed [00:28:56] - What matters to him when meeting with young companies for the first time [00:31:47] - The importance placed on value creation over value capture in the early days [00:33:09] - Things that would dissuade him from partnering with a company [00:34:18] - What the growth and leadership at Square has taught him over the years [00:35:44] - Things he's most excited about for payments looking forward [00:37:34] - How often a company lowering friction with technology appeals to him  [00:38:38] - Thoughts on Unity and its role in the growing trend of the metaverse [00:40:28] - Why the open and decentralized nature of the future is so beneficial [00:42:05] - Lessons learned about content and internet from working with YouTube [00:44:08] - The landscape of developers today and MongoDB's role in it  [00:45:24] - Commonalities between companies who have a successful second act [00:48:16] - Good board members support founders during their pivotal moments [00:49:26] - Learning to identify and hunt for crucible moments [00:50:50] - Curiosity is the key ingredient of a great investor [00:52:05] - What makes for a fantastic investment memo [00:53:20] - The most memorable investment memo he's ever read [00:54:07] - Honing his leadership as his role has changed at Sequoia these past years [00:55:51] - Thoughts on Sequoia's brand and the scope of his ambition [00:58:05] - What he's most curious about in the world today [00:58:46] - What technology wants most from people today [01:01:13] - The difference between an accountant and an actuary's mindset and when each one is appropriate to inhabit [01:02:38] - Differences between talent and genius  [01:04:12] - Closing principals about business building he finds important to consider [01:06:17] - The kindest thing anyone has ever done for him

Invest Like the Best
Sarah Friar - Building the Local Graph - [Invest Like the Best, EP. 249]

Invest Like the Best

Play Episode Listen Later Nov 2, 2021 73:26


My guest today is Sarah Friar, the CEO of Nextdoor, which connects people in local neighborhoods together. Sarah's CV sparkles with impressive achievements at interesting businesses, and we spend a lot of time in this conversation thinking through what excellence looks like as a CEO, CFO, equity analyst, and board member. The rest of our discussion is focused on Nextdoor and how the soon-to-be public business is fostering connections between people and businesses in their local areas.   I do this podcast so I get to meet and learn from people like Sarah. I could have talked to her for hours. I hope you enjoy this great conversation with Sarah Friar as much as I did.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   ------   This episode is brought to you by Canalyst. Canalyst is the leading destination for public company data and analysis. If you've been scrambling to keep up with the deluge of IPOs and SPACs these days, Canalyst has models on Robinhood, Marqeta, Grab, and everything in between. Learn more and try Canalyst for yourself at canalyst.com/patrick. ------   At WatchBox, the world's finest watches are at your fingertips with an ever-expanding collection of luxury timepieces, all certified authentic and collector quality. WatchBox's global team of expert client advisors is ready to help you find the watch you've always wanted. Step into the collector's circle at thewatchbox.com/patrick   ------   Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.    Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:03:03] - [First question] - What makes an excellent equity analyst [00:05:51] - Things Sarah does differently as an operator because she was an investor [00:08:29] - Key factors that make a great CFO [00:09:31] - The role of the CFO in regards to capital allocation as a company grows [00:11:50] - What convinced her to join Salesforce and Square [00:14:45] - The initial spark and appeal that led her to join Nextdoor [00:17:35] - Existing problems with ‘community' and how they approach fixing them [00:21:36] - Interesting and compelling data points about in-person interactions [00:23:54] - Network density as a driving factor of product quality [00:26:43] - What gives Nextdoor a unique angle against some of its existing competitors  [00:28:51] - Thoughts on platform leakage and user retention [00:30:57] - Successful strategies for deploying Nextdoor in a new country [00:35:32] - Having a feed and trying to avoid creating echo chambers [00:37:04] - Some of the biggest mistakes they've made while trying to grow [00:38:49] - Options for a business model and thoughts on advertising  [00:43:25] - The importance of scale, advertising, and their relationship dynamic [00:45:55] - Ways she's learned to effectively steer the businesses strategy [00:49:48] - Why she doesn't like titles  [00:51:07] - Key levers that will allow Nextdoor to succeed in the future [00:53:35] - How advertisers evaluate platforms like Nextdoor compared to Google or Facebook [00:57:19] - What a successful board member looks like and how she's learned to be one [00:59:34] - Leading with transparency and empathy [01:02:00] - An overview of what Ladies Who Launch is and what they do [01:03:57] - Way to educate our children about finance and encourage financial literacy [01:07:51] - Making your platforms welcoming and guiding users away from conflict [01:10:30] - The kindest thing anyone has ever done for her 

Invest Like the Best
Universal Music Group: The Gatekeepers of Music - [Business Breakdowns, EP. 32]

Invest Like the Best

Play Episode Listen Later Oct 28, 2021 76:19


Today, we are running a special episode of Business Breakdowns on our Invest Like the Best feed. When we launched Breakdowns, we hoped to cover industries and businesses that we were “well known but poorly understood.” This deep-dive on UMG and the music industry is just that - you will walk away with a whole new appreciation for artists, labels, and what streaming technology has done for a historic industry. If you enjoy this episode, please be sure to subscribe on your preferred podcast player and check out our growing catalog of episodes.   Today we're breaking down Universal Music Group. As one of the largest music businesses in the world, UMG is home to many of the world's greatest artists, including Taylor Swift, U2, and The Beatles catalog. A discussion on UMG requires a deep dive into the history of music itself, how it was historically monetized, the shift from physical to digital, and what streaming has meant for the various pieces of the ecosystem. Our guest, Arman Gokgol-Kline, a partner and investor at Ruane, Cunniff & Goldfarb, walks us through that evolution of the music industry before we dive in on UMG.   In our discussion, we first break down the industry pre and post Napster, looking at the ways music was sold historically, and how that led to both record profits and a consumer revolution. We then assess streaming's impact on the industry and how, contrary to what you might think, labels may be more important in a marketplace where it's easier than ever for creators to record and release music. Finally, we finish with UMG's place in the ecosystem. The primary drivers of the business, how they're able to attract the world's superstars, and how they think about deploying dollars to acquire new artists and timeless catalogs.   Please enjoy this fantastic breakdown of Universal Music Group.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Quartr. With Quartr, you can access conference calls, investor presentations, transcripts, and earnings reports – straight from your pocket. Quartr is 100% free and includes companies from 12 markets including the US, the UK, Canada, India, and all the Scandinavian countries. Quartr is available for both iOS and Android, so check out the app today.   -----   This episode is brought to you by Brex. Brex began as the first corporate card for startups and now offers a full financial stack built for scale. Get 10-20x higher credit limits, uncapped rewards, easy deposits and payments, and expense management all in one. Grow your business faster with Brex.   -----   Business Breakdowns is a property of Colossus, LLC. For more episodes of Business Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @JoinColossus | @patrick_oshag | @jspujji | @zbfuss   Show Notes [00:04:01] - [First question] - How technology disrupted the music business and it's evolving history [00:12:44] - What the industry of music labels looks like from the 90s to today [00:21:19] - How it feels as a high-tier artist to engage with a label directly today [00:28:20] - The revenue and business model of an artist akin to Taylor Swift [00:30:44] - The differences between UMG's main sources of revenue; music publishing and recording [00:35:08] - General margins and trends for music publishing [00:36:22] - Ownership and mechanics of monetizing an artist's Intellectual Property  [00:40:57] - How streaming revenues are divided among stakeholders [00:46:23] - History of the bargaining power of labels and streaming platforms [00:51:25] - Capital allocation, ROI, and acquiring IP and catalogs [00:57:39] - Thoughts on the growth profile of the industry as an investor [01:02:23] - Potential risks to UMG in emerging technology and new creator trends  [01:08:50] - Reasons why an artist would pick UMG over other major labels [01:12:42] - Diversity and how artists are sometimes treated by labels [01:14:02] - A growing increase in music consumption across the world

Invest Like the Best
Alex Rampell - Investing in Operating Systems - [Invest Like the Best, EP. 248]

Invest Like the Best

Play Episode Listen Later Oct 26, 2021 77:31


My guest today is Alex Rampell, General Partner at Andreessen Horowitz. Alex has a long history in fintech, having co-founded six companies in his career, including Affirm and TrialPay. During our conversation, we cover Alex's framework for positive selection in investing, why the best investments are often operating systems or systems of record, and Alex's views on the future of fintech. For those that have listened to our Business Breakdown on Visa with Alex - you know the intellectual horsepower he brings to every discussion. This conversation is no exception.    For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   ------   This episode is brought to you by Tegus. Tegus has built the most extensive primary information platform available for investors.   With Tegus, you can learn everything you'd want to know about a company in an on-demand digital platform. Investors share their expert calls, allowing others to instantly access more than 20,000 calls on Affirm, Teladoc, Roblox, or almost any company of interest. All you have to do is log in. Visit tegus.co/patrick to learn more.   ------   This episode is brought to you by Hall Capital Partners. Hall Capital is always looking for exceptional investment talent at any stage and size, so if you are raising capital or looking for a career change in the San Francisco or New York areas, you should check them out at hallcapital.com or e-mail at invest@hallcapital.com.    ------   Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.    Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:03:32] - [First question] - Lean into positive selection and avoid adverse selection [00:07:48] - Thoughts on growing capital formation in private markets [00:14:01] - Why it's useful for investors to think in terms of bonds and call options instead of equity [00:18:39] - Doing more with less and hunting for operating systems to invest in [00:28:08] - His views on infrastructure and the presentation layer conundrum [00:33:32] - The sequencing involved in building an operating system over time [00:40:11] - Rise of the creator class and the coming tailwind post-cloud technology; the rise of the solopreneur  [00:43:32] - The pig joke and his thoughts on the FinTech space [00:47:47] - Big financial services functions that will be embedded in non-financial businesses [00:51:07] - Deciding which functions and financial services models are most attractive [00:57:01] - What a shift towards data and FinTech might unlock for the world writ large [01:02:40] - How to improve payment profits by reducing credit rates [01:04:12] - The threat that Buy-Now-Pay-Later companies pose to Visa and Mastercard [01:12:17] - How the struggle between distribution and innovation continues to change [01:15:04] - The kindest thing that anyone has ever done for him