Business Breakdowns

By Colossus | Investing & Business Podcasts

Business Investing

What's Business Breakdowns about?

Discover how companies work from the people who know them best. We do deep research and interview industry veterans, investment professionals, and corporate executives to explain the inner workings of public stocks and private businesses. For each company, we break down their history, business model, financial statements, secret sauce, and bull/bear case. We believe every business has lessons to teach us and Breakdowns is here to highlight them. Learn more and stay up to date at www.joincolossus.com.

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First Citizens Bank: The Ba...

06.07.2023

This is Matt Reustle and today we are breaking down First Citizens Bank. I'm joined by investors with plenty of experience investing in banks - Bill Nygren and Alex Fitch of Oakmark. First Citizens is a bank with 125 years ...

Business Breakdowns episodes:

06.07.2023 First Citizens Bank: The Bank Buyers - [Business Breakdowns, EP.114] This is Matt Reustle and today we are breaking down First Citizens Bank. I'm joined by investors with plenty of experience investing in banks - Bill Nygren and Alex Fitch of Oakmark. First Citizens is a bank with 125 years ...
05.31.2023 PayPal: A Digital Money Marketplace - [Business Breakdowns, EP.113] This is Dom Cooke and today we’re breaking down PayPal. PayPal has been at the forefront of digital payments since the early days of the internet. Founded by Peter Thiel, Elon Musk and others, who have since become household names, ...
05.24.2023 Restoration Hardware: Climbing the Luxury Mountain - [Business Breakdowns, EP.112] This is Matt Reustle and today we are breaking down Restoration Hardware. The average person would call RH a furniture company but RH is a company where the CEO feels as important as the business, and CEO Gary Friedman has ...
05.17.2023 FICO: A High Score Business - [Business Breakdowns, EP.111] This is Zack Fuss, an investor at Irenic Capital, and today we’re breaking down Fair Isaac Corporation, commonly known as FICO. FICO is best known for its consumer credit scores product, which has become a common language across the world ...
05.10.2023 FC Bayern Munich: The Best Run Club in Football - [Business Breakdowns, EP. 110] This is Dom Cooke and today we’re breaking down Bayern Munich. Bayern is Germany’s most successful football club and one of the world’s biggest. Most importantly, it makes a great case for being the best-run club in football. It has ...
05.03.2023 MTN Group: Connecting Africa - [Business Breakdowns, EP.109] This is Zack Fuss, an investor at Irenic Capital, and today we’re breaking down MTN Group. MTN is the largest mobile network operator in Africa and one of the 10 largest in the world. It has over 270 million subscribers, ...
04.26.2023 Roper Technologies: Industrial Titan to Software Giant - [Business Breakdowns, EP. 108] This is Zack Fuss, an investor at Irenic Capital, and today we’re breaking down Roper Technologies. Roper is a fascinating case study in how an old industrial business can pivot into a new world focused on software and technology. Roper ...
04.19.2023 Dolby Laboratories: The Sound Standard - [Business Breakdowns, EP. 107] This is Matt Reustle and today we are breaking down Dolby Labs. Our favorite Breakdowns are those businesses, which are widely known but barely understood. Dolby fits the bill. You see the logo everywhere but what does Dolby technology do ...
04.12.2023 Electronic Arts: FIFA, The Sims, Madden and More - [Business Breakdowns, EP. 106] This is Matt Reustle and today we are breaking down the iconic video game publisher, Electronic Arts. EA’s corporate history dates back to the 1980s and the business has evolved with all of the industry shifts in the decades since. ...
04.05.2023 Titan: A Golden Case in Indian Retail - [Business Breakdowns, EP. 105] Today we’re breaking down India’s largest jewelry business, Titan. Titan began life as a watchmaker in 1984 through a joint venture between India’s biggest conglomerate, Tata Group, and the Tamilnadu state government. Today, the vast majority of its $4 billion ...
03.31.2023 The National Basketball Association - [Business Breakdowns, EP. 104] This is Matt Reustle and today we are breaking down the National Basketball Association. The NBA topped $10bn in revenue last season, in line with MLB and behind only the NFL in terms of major sports leagues. The initial headlines ...
03.29.2023 Jim Chanos: A Short Thesis on Data Centers - [Business Breakdowns, EP. 103] Compound248 is back to host another episode of Business Breakdowns. His most recent podcasts have focused on digital infrastructure and today we continue with that theme, but with a twist. Our guest is Wall Street Legend Jim Chanos, famed for ...
03.22.2023 Markel: Playing The Long Game - [Business Breakdowns, EP. 102] Today, we’re breaking down Markel. Markel is an insurance and investing business. It shares the same operating structure as Berkshire Hathaway in that it uses insurance underwriting profits to fund an investing portfolio that includes both minority and controlling interests ...
03.15.2023 The Walt Disney Company: An Entertainment Empire - [Business Breakdowns, EP. 101] This is Jesse Pujji and today we’re breaking down The Walt Disney Company. Disney needs no introduction. We have all interacted with the entertainment empire in some capacity. It was founded 100 years ago as the Disney Brothers Cartoon Studio ...
03.08.2023 IPL: The World’s Fastest Growing Sports League - [Business Breakdowns, EP. 100] Today we are breaking down the world’s fastest-growing sports league, The Indian Premier League. The Indian Premier League, often shortened to IPL, is a cricket competition that takes place in India every year between the end of March and end ...
03.01.2023 Wise: Moving Money Around the World - [Business Breakdowns, EP. 99] This is Zack Fuss, an investor at Irenic Capital, and today we’re breaking down Wise. Wise helps individuals and small businesses move money across borders. It offers significantly faster and cheaper international transfers than traditional banking routes because of its ...
02.22.2023 Ryanair: Low Cost Obsessed - [Business Breakdowns, EP. 98] This is Matt Reustle and today we are breaking down Europe's largest airline, Ryanair. As we do more breakdowns, we start to look for patterns of successful business models that succeed across different industries. Ryanair is another case study in ...
02.16.2023 Constellation Software: Principled, Profitable, Permanent - [Business Breakdowns, EP. 97] This is Zack Fuss, an investor at Irenic Capital, and today we’re breaking down Constellation Software. Constellation is a conglomerate which owns more than five hundred vertical market software businesses. It was founded by Mark Leonard in 1995 and has ...
02.08.2023 The Business of Sport: NFL, F1, PGA Tour - [Business Breakdowns, EP. 96] This is Dom Cooke and this week is a little different. It’s Super Bowl week and to get in the mood, we’re doing a sports special as we break down the business behind 3 iconic sports - The NFL, Formula ...
02.01.2023 Qualcomm: Making Smartphones Smart - [Business Breakdowns, EP. 95] This is Zack Fuss, an investor at Irenic Capital, and today we're breaking down Qualcomm. When you think of semiconductors, Qualcomm isn’t necessarily the first name that comes to mind but its size and utility in our lives is truly ...
01.27.2023 Orangetheory Fitness: A Franchise HIIT - [Business Breakdowns, EP. 94] This is Matt Reustle and today we are breaking down the fitness franchise, Orangetheory. I have wanted to do a deep-dive on franchising for a while now and I always knew who the guest would be. I’m joined by a ...
01.18.2023 WeChat: China’s Operating System - [Business Breakdowns, EP. 93] Today, we’re breaking down one of the most important apps in the world, WeChat. WeChat is the default operating system for life and business in China. Founded inside of Tencent in 2011, it is the original super app and its ...
01.11.2023 Hermès: The Luxury Icon - [Business Breakdowns, EP. 92] Today’s breakdown has been at the top of our to-do list since the show started. There are few brands as strong as this one and the way the Dumas family has nurtured it over six generations is remarkable. We are, ...
01.04.2023 L’Oreal: Because You’re Worth It - [Business Breakdowns, EP. 91] This is Matt Reustle, and today we are breaking down the personal care giant, L'Oreal. Founded in the early 1900s by a French chemist, L'Oreal and its long list of iconic brands have been driving cosmetics innovation for over a ...
12.28.2022 Carbon Reduction: Changing Business Practices - [Business Breakdowns, EP. 90] This week is the second half of our mini-series on the two major levers to reduce the impact of climate change. Last week, we covered Carbon Removal with Nan Ransohoff. Today we're focused on Carbon Reduction. To break down the ...
12.21.2022 Carbon Removal: A Primer - [Business Breakdowns, EP. 89] This week and next week we will break down the two biggest levers we have in the fight against climate change. Carbon reduction and carbon removal. Today, we will focus on carbon removal. To break down where we stand and ...
12.18.2022 Shiprocket - Enabling Ecommerce in India - [Return on India, EP.03] Today, we are running a bonus Business Breakdown borrowed from the newest Colossus series, Return on India. Saahil Goel, founder of Shiprocket, joins Romeen Sheth to break down the business. If you enjoy this episode and would like to learn ...
12.14.2022 DoorDash: Looking for Profitable Routes - [Business Breakdowns, EP. 88] This is Zack Fuss, an investor at Irenic Capital. Today, I’m joined by Matt Newberg of HNGRY to help us break down DoorDash, the popular food delivery service. DoorDash was founded in 2013 by 4 Stanford students who saw an ...
12.07.2022 Floor & Decor: Raising the Floor - [Business Breakdowns, EP. 87] This is Matt Reustle, and today we are breaking down the specialty retailer, Floor & Decor. Now prior to this Breakdown, I cannot say that I thought much about Floor & Decor. It felt like the stereotypical specialty store that ...
11.30.2022 Netflix: The Original - [Business Breakdowns, EP. 86] This is Jesse Pujji and today we're breaking down Netflix, the pioneer in entertainment streaming. Founded in 1997, Netflix has evolved over the years to become the leader in streaming entertainment with over 200m subscribers globally. To break down Netflix, ...
11.25.2022 Brookfield Asset Management: Alternative Cash Flows - [Business Breakdowns, EP. 85] This is Matt Reustle and today we are breaking down the giant alternative asset manager, Brookfield. Today Brookfield boasts $750bn in assets under management, and it’s a global footprint that includes many noteworthy office buildings and key infrastructure assets. To ...
11.16.2022 Harvard Business Publishing: A Case Study - [Business Breakdowns, EP. 84] This is Dom Cooke and today we’re breaking down Harvard Business Publishing. The media arm of Harvard’s world-famous business school was founded in the early 90s, but the seeds were sown a century ago, in 1922, when the first edition ...
11.09.2022 Vanguard: The Alpha Disrupter - [Business Breakdowns, EP. 83] This is Zack Fuss, an investor at Irenic Capital, and today we’re breaking down Vanguard. Vanguard and its founder, Jack Bogle, have ushered in an era of low-cost investment, which has left its mark on the entire industry. Today, the ...
11.02.2022 The Home Depot: The Pro Builder’s Choice - [Business Breakdowns, EP. 81] This is Matt Reustle and today we are breaking down the home improvement giant, The Home Depot. In the US, The Home Depot is a key ingredient to a nice little Saturday but beyond the power tools and building supplies ...
10.26.2022 Cameo: Monetizing Fame - [Business Breakdowns, EP. 80] This is Jesse Pujji and today we’re breaking down Cameo, a video-sharing marketplace where you can buy personalized videos from your favorite celebrities. Cameo was founded in 2016 and reached unicorn status last year after producing millions of messages since ...
10.19.2022 Archaea Energy: Turning Pollution into Profit - [Business Breakdowns, EP. 79] This is Zack Fuss, an investor at Irenic Capital, and today we’re breaking down Archaea Energy. Archaea is one of the largest and fastest growing providers of renewable natural gas in the US. The company uses methane produced by landfills ...
10.12.2022 Spotter: Funding YouTube Creators - [Business Breakdowns, EP. 78] Today’s Breakdown is a little different. For one, I’m Ali Hamed, an investor at Crossbeam and CoVenture, and I’ll be your host. Secondly, in this conversation, we are studying a private company that you’re unlikely to have heard of. That ...
10.05.2022 Intuit: An Operating System for Small Businesses - [Business Breakdowns, EP. 77] This is Zack Fuss, an investor at Irenic Capital, and today we are breaking down Intuit. Started by a former Procter & Gamble employee in 1983, Intuit has grown into the premier platform for consumers and small businesses to manage ...
09.28.2022 Trader Joe’s: Grocer to the Overeducated and Underpaid - [Business Breakdowns, EP. 76] This is Zack Fuss, an investor at Irenic Capital and today we are breaking down Trader Joe’s. Trader Joe’s is not a typical grocery chain. Their stores offer less choice, very few brands, constantly changing product lines, and no online ...
09.21.2022 Polaroid: The Genius of Edwin Land - [Business Breakdowns, EP. 75] Today we are breaking down Polaroid. For 30 years, Polaroid monopolized the instant photography industry, producing one Nobel-caliber breakthrough after another. As their products dazzled, sales grew from just under $1.5 million in 1948 to $1.4 billion in 1978. Today, ...
09.15.2022 General Electric: Lessons from the Rise and Fall - [Business Breakdowns, EP. 74] This is Matt Reustle and today we are breaking down the historic General Electric. Honestly, approaching this episode was a unique challenge. Today’s GE barely resembles what was once the largest company in the world. So rather than purely focus ...
09.07.2022 AMD: How Chips Are Changing - [Business Breakdowns, EP. 73] Today, we’re breaking down a global semiconductor company known as AMD. AMD isn’t the biggest and hasn’t always been the best chip maker in the world. But as cyclical and structural changes take place in the semiconductor industry, AMD serves ...
09.01.2022 CrowdStrike: Cyber SaaS - [Business Breakdowns, EP. 72] This is Jesse Pujji and today we are breaking down CrowdStrike, the cybersecurity provider. Founded in 2011 by George Kurtz, the former CTO of McAfee, CrowdStrike differentiated from firewalls and anti-malware by building a platform that actively predicts threats rather ...
08.24.2022 Atlas Copco: Sweden’s Best Kept Secret - [Business Breakdowns, EP. 71] This is Matt Reustle and today we are breaking down the Swedish industrial giant, Atlas Copco. With a market cap hovering around $50 billion US dollars, Atlas Copco is a dominant player in the air compressor and vacuum pump markets. ...
08.19.2022 ChargePoint: Leading the EV Charge - [Business Breakdowns, EP. 70] This is Jesse Pujji and today we’re breaking down ChargePoint. ChargePoint is the clear market leader in the United States for electric vehicle chargers. Founded in 2007 by five technical founders, the business has ridden the wave of EV growth ...
08.10.2022 Union Pacific: Long Train Runnin’ - [Business Breakdowns, EP. 69] This is Dom Cooke and today we are breaking down the freight railroad business, Union Pacific. Union Pacific is interesting for a number of reasons. Its first tracks were laid in a time of horsepower, over 150 years ago. It ...
08.03.2022 LVMH: The Wolf in Cashmere’s Conglomerate - [Business Breakdowns, EP. 68] This is Zack Fuss, an investor at Irenic Capital Management. Today we’re breaking down the world’s largest luxury business, LVMH. The LVMH story is deeply reflective of the vision of its 73 year-old founder and architect, Bernard Arnault. Today, the ...
07.27.2022 DuPont: Two Centuries of Chemistry - [Business Breakdowns, EP. 67] This is Matt Reustle and today we are breaking down DuPont. We admire leaders that are in the trenches with their team members; never above any task and willing to share in risks. But, wow, did the Dupont family set ...
07.20.2022 Charles Schwab: The 8 Trillion Dollar Gorilla - [Business Breakdowns, EP. 66] This is Matt Reustle and today we are breaking down the financial institution known as Charles Schwab. Schwab is a financial behemoth. They report over $8 trillion in assets under custody and a market cap scratching $120 billion but I ...
07.15.2022 Rolex: Timeless Excellence - [Business Breakdowns, EP. 65] Today, we’re breaking down one of the strongest brands in the world - Rolex. Founded in the UK in 1905 under the name Wilsdorf & Davis, Rolex has become the leading name in luxury watches. But, while the company’s products ...

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