Increasing Returns

What is the metaverse? Its full expression will be a persistent, immersive virtual reality. We will shop in the metaverse; we will hang out with friends; play games and sports; and learn about ancient Rome not by reading about it in a book, but by being there in person in a photorealistic Rome filled with non-player characters, like a video game. We will work in close collaboration with colleagues from around the world through lifelike avatars.

Listen in for a discussion of these topics and the companies that'll benefit from them.

A transcript of this episode is on our site at https://www.hellerhs.com/post/investing-in-the-metaverse

Increasing Returns is a podcast by Heller House. We apply the principles of value investing to the industries of the future.

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Heller House

Marcelo P. Lima on Twitter

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In this interview with John Rotonti of The Motley Fool, we really cover the waterfront. We talk about portfolio construction, valuation, and discuss the following companies: 

Shopify, Wix, Slack, PayPal, Square, Twilio, Roku, Spotify, and Zoom. We also talk about the ecological approach we use, where we think of companies as organisms competing in a Darwinian jungle.

A transcript of this interview is on our website, at https://www.hellerhs.com/post/valuation-portfolio-construction-and-lots-of-companies

Even though this interview originally aired in October of 2020, I think it remains incredibly relevant, and I hope you enjoy it.

Increasing Returns is a podcast by Heller House. We apply the principles of value investing to the industries of the future.

Links:

Heller House

Marcelo P. Lima on Twitter

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You can watch a video of our chat here. 

This week we are back with another conversation with my friend Ryan Reeves, this time on Lemonade ($LMND). We talk about the bull and bear cases for the company, the financial model, the importance of using imagination when thinking about the future, and what I think is the most interesting part of the conversation, competitive advantages or moats.

A transcript of this conversation, with links and photos, is at https://www.hellerhs.com/post/more-lemonade

This episode aired early last month on July 6, 2021. I hope you enjoy it.

Increasing Returns is a podcast by Heller House. We apply the principles of value investing to the industries of the future.

Links:

Heller House

Marcelo P. Lima on Twitter

Subscribe to our email list

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You can find Ryan Reeves's excellent podcast here.

In this interview with Ryan Reeves, which originally aired on Nov. 25, 2019, we go deep into a discussion on Shopify and Slack, the competitive landscape with other ecommerce and collaboration solutions, and much more.

You can find a transcript of our conversation here: https://www.hellerhs.com/post/shopify-slack-and-more-on-the-investing-city-podcast

Increasing Returns is a podcast by Heller House. We apply the principles of value investing to the industries of the future.

Links:

Heller House

Marcelo P. Lima on Twitter

Subscribe to our email list

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You can find Ryan's excellent podcast here.

As investors, we must keep an open mind, but most people resist new ideas.

In this episode, which originally aired in the 7Investing Podcast, Matthew Cochrane interviews Marcelo P. Lima about keeping that mental flexibility; how to learn new things; how to value fast-growing companies, the dichotomy between missionary and mercenary management teams, and much more.

A transcript of this episode is at https://www.hellerhs.com/post/discovering-innovative-companies-with-marcelo-lima

Increasing Returns is a podcast by Heller House. We apply the principles of value investing to the industries of the future.

Links:

Heller House

Marcelo P. Lima on Twitter

Subscribe to our email list

You can learn more about 7Investing here.

How did the internet fundamentally change business? It's all about zero marginal costs, and playing a different game: blanket the world, capture customers, and only then, monetize them.

We discuss Zoom, Slack, Atlassian; talk about Ben Graham's investment in GEICO, in 1948; how GEICO was a disruptive innovator in the Clay Christensen sense; what factors made it so, and how can we identify similar companies today, and much more.

Even though this interview originally aired on The Acquirers Podcast with Tobias Carlisle, I'm particularly pleased with how it turned out, because a lot of our discussion remains relevant today.

A transcript of the episode is available on our website at https://www.hellerhs.com/post/growth-underwriter-marcelo-lima-on-valuing-saas-businesses

Increasing Returns is a podcast by Heller House. We apply the principles of value investing to the industries of the future.

Links:

Heller House

Marcelo P. Lima on Twitter

Subscribe to our email list

If you'd like to check out Tobias's excellent podcast, head over to https://acquirersmultiple.com/podcast/

How does innovation work? How early are we in cloud computing? What are the next computing platforms? In this wide-ranging discussion, Todd Peters interviews Marcelo P. Lima about these topics and much more.

A transcript of this talk is posted at https://www.hellerhs.com/post/on-innovation-our-portfolio-and-more

Increasing Returns is a podcast by Heller House. We apply the principles of value investing to the industries of the future.

Links:

Heller House

Marcelo P. Lima on Twitter

Subscribe to our email list

Increasing Returns is a podcast by Heller House. We apply the principles of value investing to the industries of the future.

Links:

Heller House

Marcelo P. Lima on Twitter

Subscribe to our email list

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On Avoiding Technology

https://www.hellerhs.com/post/on-avoiding-technology

Increasing Returns is a podcast by Heller House. We apply the principles of value investing to the industries of the future.

Links:
Heller House

Marcelo P. Lima on Twitter

Subscribe to our email list
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Buffett's World War II Debut

https://www.hellerhs.com/post/buffett-s-world-war-ii-debut

What is a franchise, and when does it turn into an ordinary business?

This question was posed by Buffett many years ago. With the disruption wrought by the internet, many existing franchises are being destroyed... but many new ones are being created.

This episode is a reading of our original post here: https://www.hellerhs.com/post/from-franchise-to-ordinary-business