In this episode of Magic Markets, we unpack the concept of platform economics through a practical lens, using real examples from our portfolios like Uber and Prosus.

What separates a true platform from a business that simply claims the label? The discussion dives into the power of network effects, operating leverage and data-driven ecosystems. These elements can create powerful flywheels that drive long-term value when executed correctly.

We also explore the growing divergence between platform businesses and the struggling SaaS sector, as rising interest rates and the disruptive force of AI force investors to rethink valuations and moats. Mohammed Nalla does a particularly great job of setting out the different types of SaaS moats and where he's looking for value.

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Disclaimer: This podcast is for informational purposes only and does not constitute financial or investment advice. Please speak to your personal financial advisor.