Even great businesses can get fracked. In this episode, Michelle Loret de Mola and Dev Patnaik break down why even well-run companies can get blindsided by external forces beyond their control. They introduce the "Fracked List," a framework categorizing companies into four groups: the totally fracked, those getting fracked, the ones fighting fracking, and—most importantly—the frackers themselves. From Nvidia’s AI competition with DeepSeek to McDonald’s struggle against shifting consumer habits, the duo explores how businesses can avoid getting left behind. Are you paying attention to market forces, substitutes, and piranhas? Tune in to find out how to stay ahead and avoid getting fracked.