264 episodes

Exploring the ideas, methods, and stories of people that will help you better invest your time and money. Learn more and stay-up-to-date at https://joincolossus.com/

Invest Like the Best with Patrick O'Shaughness‪y‬ Colossus

    • Investing
    • 4.4 • 5 Ratings

Exploring the ideas, methods, and stories of people that will help you better invest your time and money. Learn more and stay-up-to-date at https://joincolossus.com/

    Chris Dixon - The Potential of Blockchain Technology

    Chris Dixon - The Potential of Blockchain Technology

    My guest today is Chris Dixon, a general partner at Andreessen Horowitz. Chris is a prolific investor and thinker, having been an entrepreneur, angel investor, and is now focused on investing in the crypto and blockchain space for Andreessen. Our conversation focuses on Chris's overall thesis for investing in the cryptocurrency space, the opportunities and limitations of blockchain applications, and why this is the most interesting area for investing and building over the next ten years. What's exciting to me is blockchain technology's ability to help us re-imagine old business models and catapult them into the 21st century – and we cover a lot of them. I hope you enjoy my conversation with Chris Dixon.
     
    For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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    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 Coinbase, Roblox, Qualtrics and everything in between. Learn more and try Canalyst for yourself at canalyst.com/patrick.
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    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 10,000 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.
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    Invest Like the Best is a property of Colossus, Inc. For more episodes of Invest Like the Best, 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
    [00:03:56] - [First question] - His overall crypto investing philosophy
    [00:06:37] - New opportunities presented by blockchain technology
    [00:15:31] - Permanent limitations and shortcomings of blockchains
    [00:18:32] - Evolution of DeFi and crypto currencies
    [00:21:11] - Whitepapers: Bitcoin, Ethereum, MakerDAO 
    [00:22:08] - How to take out a loan using the Maker protocol
    [00:23:22] - Utility of Dai and stablecoins
    [00:29:14] - How the DeFi network will reinvent the future
    [00:39:53] - Uniswap, tokens, and fundamentally redefining leverage
    [00:36:29] - The Company: A Short History of a Revolutionary Idea
    [00:38:00] - Developer and entrepreneurial incentives for building blockchain technology
    [00:39:46] - BitClout, Rally and the early days of social tokens
    [00:46:38] - Demand curve and value creation efficiency in a digital creator economy
    [00:47:24] - NFTs and a Thousand True Fans
    [00:54:49] - Polkadot, Solana, Cosmos and programmable blockchains
    [00:58:03] - The most exciting moment for him in the last year
    [01:00:19] - Decentralized autonomous organizations
    [01:02:46] - The single thing that has him most excited about the future of this space
    [01:05:18] - The Next Big Thing Will Start Out Looking Like a Toy

    • 1 hr 12 min
    Shopify: The E-commerce On-Ramp - [Business Breakdowns, EP. 01]

    Shopify: The E-commerce On-Ramp - [Business Breakdowns, EP. 01]

    Welcome to the first episode of our newest show, Business Breakdowns, featuring deep-dive conversations on individual businesses. In each episode, we will dissect a new company with investors and operators that know it best. 
     
    We’ve already released the first three episodes on Shopify, Chipotle, and Alibaba. Subscribe to Business Breakdowns through the podcast player of your choice: 
    Apple Spotify Google Overcast Amazon  
    Leave us a 5-star rating on Apple Podcasts if you like the show!
     
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    Today we will be diving into Shopify. Shopify was founded in 2004 by Tobi Lütke and Scott Lake around their original problem of why it's so hard to build an online business when they struggled to open an online snowboard equipment store. Today, Shopify's goal is to make commerce better for everyone, and it's used by more than 2 million merchants to run their online businesses. It's essentially an on-ramp for people looking to sell online. 
     
    To help us break down Shopify, I'm joined by co-host Zack Fuss and our guest Alex Danco, who works on the Money team at Shopify.
     
    To really understand Shopify, you have to understand its different business units -- Core, Merchant Services, Ecosystem, and the new Shop platform -- and the role they each play in making commerce easier and better for merchants. We begin this breakdown by covering each of those business units and how they compare to Apple's business lines. We then dive deep into how Shopify makes money through the first and second derivative of their merchant success and how Shopify thinks about friction in e-commerce. We close with an incredible analogy of Shopify and StarCraft and the tools that Shopify has built into the still-nascent world of e-commerce.
     
    For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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    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 15,000 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.
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    Business Breakdowns is a property of Colossus, Inc. 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
    [00:04:03] - [First question] - What Shopify is as a product
    [00:05:58] - Product pillar 1: Core
    [00:07:58] - Product pillar 2: Merchant services
    [00:10:02] - Product pillar 3: Ecosystem
    [00:12:04] - Product pillar 4: Shop
    [00:14:08] - The evolution of commerce with the rise of the internet
    [00:21:01] - Differences between high and low trust commerce
    [00:25:48] - The role of friction and trust in stakeholder variety
    [00:30:18] - Overview of all four product pillars’ business models
    [00:33:10] - Shopify App Store
    [00:34:16] - How Shopify competes and partners with their competitors
    [00:36:53] - Shop Pay expands to Facebook and Instagram
    [00:38:49] - Key areas where Shopify will continue to grow across their product pillars
    [00:42:52] - Affirm, Klarna, Afterpay
    [00:43:56] - Potential pitfalls of having su

    • 1 hr 3 min
    Tony Xu - A Human and Math Problem - [Founder’s Field Guide, EP. 28]

    Tony Xu - A Human and Math Problem - [Founder’s Field Guide, EP. 28]

    My guest today is Tony Xu, co-founder, and CEO of DoorDash. Tony started DoorDash 7.5 years ago, and today it is one of the largest food delivery and logistics platforms globally, with operations in the US, Canada, Australia. In our conversation, we discuss the initial problem that DoorDash set out to solve, DoorDash’s counterintuitive approach to building their product, and the surprising benefits of capital constraints in DoorDash’s early days. DoorDash’s business model is an equal parts logistics nightmare and a human coordination problem, or as Tony puts it, a human and math problem. After talking to Tony, I feel his personality makes him a great candidate to solve those problems.
     
    For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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    This episode is brought to you by Vanta. Vanta has built software that makes it easier to get and maintain your SOC 2 report at a fraction of the typical cost. Founder’s Field Guide listeners can redeem a $1k off coupon at vanta.com/patrick.
    -----
    This episode is brought to you by LinkedIn Jobs. With LinkedIn, you get access to an active community of professionals with more than 722 million members worldwide. LinkedIn is the easiest place in the world to post a job and message qualified candidates. Getting started is easier than ever, and now you can do this all from your mobile device.
     
    When your business is ready to make that next hire, find the right person with LinkedIn Jobs. And now, you can post a job for free. Just visit linkedin.com/fieldguide to post a job for free. Terms and conditions apply.
    -----
    Founder's Field Guide is a property of Colossus, Inc. 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
    [00:03:07] - [First question] - The catalytic moment that inspired Tony to build DoorDash
    [00:06:33] - Network density and its role in scalability
    [00:09:15] - Solving a math and sales problem simultaneously
    [00:11:33] - Becoming aware of multiple problem sets for restaurant owners
    [00:14:34] - Designing a team to quantify friction and turn it into useable data
    [00:16:49] - How to approach difficult problems and compartmentalize them in a practical way
    [00:18:38] - Accounting for high-level variance in long-term goals
    [00:21:54] - Factoring in time horizons for variance and planning for the future
    [00:23:08] - Slowing down an action process to minimize a high-consequence decision
    [00:26:48] - Generating demand after completing their software infrastructure
    [00:28:15] - Strategic choices between network health and unit economics
    [00:30:32] - Why DoorDash struggled to raise financing in their seed-stage
    [00:32:23] - Solving a small fraction of a larger logistics problem
    [00:35:00] - Differences between local commerce and distribution centers 
    [00:36:44] - Creating the DashPass subscription service and how premium experiences influence user behavior
    [00:38:34] - Advantages and potential diminishing returns in servant leadership
    [00:40:41] - His broader philosophy on leadership and how it’s changed over the years
    [00:44:55] - Creating an incentive-aligned culture of ownership at scale
    [00:47:02] - The most surprising lessons learned about company building
    [00:50:38] - Unexpected positive outcomes that may emerge in other areas due to DoorDash’s growth in the coming years 
    [00:53:44] - Will DoorDash’s presence change behavioral patterns in where people choose to live or start their business?
    [00:55:36] - What has him most excited for the future
    [00:56:55] - Kin

    • 1 hr 4 min
    Mike Kerns and Jesse Jacobs - Content to Commerce

    Mike Kerns and Jesse Jacobs - Content to Commerce

    My guests this week are Jesse Jacobs and Mike Kerns, co-founders and partners at The Chernin Group, TCG, a multi-stage investment firm dedicated to building consumer businesses. Many think of TCG as some of the best media investors in the world, and in this discussion, you’ll quickly see why. In our conversation, we cover how TCG identifies creators that they can help build businesses with, how established companies should think about influencers and media today, and what innovations they are most excited for in the creator space. As I become more heavily involved in building new media properties, Jesse and Mike are always my first point of call for advice, and I’m so excited to share this with you. Please enjoy my conversation with Jesse Jacobs and Mike Kerns.
    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 Coinbase, Roblox, Qualtrics and everything in between. Learn more and try Canalyst for yourself at canalyst.com/patrick.
    ------
    This episode is brought to you by MIT Investment Management Company – also known as 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. MITIMCo doesn’t care how small, new, or un-institutional your firm is if you have the potential to generate amazing results that support MIT’s pursuit of world-class education, cutting-edge research, and groundbreaking innovation.
    Despite their willingness to invest early, they do not ask for GP economics, and they commit their initial capital for ten years.
    Visit www.mitimco.org and their new emerging managers page to learn more.
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    Invest Like the Best is a property of Colossus, Inc. For more episodes of Invest Like the Best, 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
    [00:03:32] - [First question] - The history of TCG 
    [00:04:30] - iFilm (Discontinued)
    [00:07:08] - Full Screen
    [00:07:13] - Crunchyroll
    [00:10:46] - Uniting properties across all of TCG’s brands
    [00:11:14] - Barstool, MeatEater
    [00:12:00] - Headspace, Food 52, Hodinkee, Surfline
    [00:14:03] - Accidental businesses and pre-commercial success
    [00:14:53] - Exploding Kittens
    [00:16:05] - Evaluating the potential of a new pitch
    [00:19:12] - Testing, tracking and understanding media brand conversions
    [00:21:13] - The most important things happening in media in 2021
    [00:25:12] - Analysis of MeatEater from content to commerce
    [00:27:22] - First Lite
    [00:29:21] - Replacing your own sponsors with owned companies
    [00:30:11] - Analysis of Hodinkee from content to commerce
    [00:33:42] - What sparked the resurgence of interest in collectibles
    [00:38:05] - Hands on investing in the intersection of media, finance and tech 
    [00:40:05] - Comcast 
    [00:41:02] - Surprising discoveries in the sports collectibles space
    [00:43:06] - NFTs and their role in generating capital for media companies
    [00:44:25] - Sorare
    [00:45:22] - JPG File Sells for $69 Million, as “NFT Mania” Gathers Pace
    [00:47:23] - How to adapt to the NFT space as a business seeking equity
    [00:51:12] - The valuation landscape of today
    [00:55:25] - Defining success when working with an influencer
    [00:58:48] - Upcoming trends they’re most excited about in the world
    [01:01:40] - Ro

    • 1 hr 11 min
    Business Breakdowns - Trailer

    Business Breakdowns - Trailer

    Welcome to Business Breakdowns, a new Colossus podcast featuring deep-dive conversations on individual businesses. In each episode, we will dissect a new company with investors and operators that know it best. We believe every business has secrets and lessons to learn from, and these conversations are designed to deliver that content in an entertaining and narrative format.
     
    The series launches today with Shopify, so check out the links below and give it a listen. 
     
    Subscribe to Business Breakdowns via: 
    Apple Spotify Google Overcast Amazon  
    Leave us a 5-star rating on Apple Podcasts if you like the show. 
     
    With each new episode, we will be releasing full episode transcripts, show notes, and the best content we could find on that business from across the internet. Check out www.joincolossus.com for more. 

    • 2 min
    Jesse Pujji - A Primer on Performance Marketing - [Founder’s Field Guide, EP. 27]

    Jesse Pujji - A Primer on Performance Marketing - [Founder’s Field Guide, EP. 27]

    My guest today is Jesse Pujji, the Founder & CEO of Gateway X, a holding company that builds, buys, and invests in companies that are driving the direct-to-consumer landscape. Prior to Gateway X, Jesse was the CEO and co-founder of Ampush, a performance marketing business helping power customer acquisition across some of the world's biggest brands. Jesse is my go-to person for all things performance marketing and customer acquisition, so we decided to record this episode to bring his incredible lessons to a wider audience. It also dovetails nicely into the series of episodes we are making called Primers, where we take our audience from a 0 to a 7 on just about any topic. In this Primer with Jesse, we dive into how revenue mechanics affect ad campaigns, why long sales funnels often offer the greatest opportunities for differentiation, and the various channels and strategies available for performance marketing. I hope you enjoy my conversation with Jesse Pujji.
     
    For the full show notes, transcript, and links to mentioned content, check out the episode page here.
    -----
    This episode is brought to you by Vanta. Vanta has built software that makes it easier to get and maintain your SOC 2 report at a fraction of the typical cost. Founder’s Field Guide listeners can redeem a $1k off coupon at vanta.com/patrick.
    -----
    This episode is brought to you by LinkedIn Jobs. With LinkedIn, you get access to an active community of professionals with more than 722 million members worldwide. LinkedIn is the easiest place in the world to post a job and message qualified candidates. Getting started is easier than ever, and now you can do this all from your mobile device.
     
    When your business is ready to make that next hire, find the right person with LinkedIn Jobs. And now, you can post a job for free. Just visit linkedin.com/fieldguide to post a job for free. Terms and conditions apply.
    -----
    Founder's Field Guide is a property of Colossus, Inc. 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
    [00:03:58] - [First question] - Overview of Jesse’s career and starting Ampush
    [00:12:11] - Red Ventures
    [00:13:11] - The four components of performance marketing
    [00:17:47] - Time and other variables in between impressions and revenue events
    [00:23:12] - Understanding the dimensions of a business and their offering
    [00:25:32] - Common misunderstandings businesses have about their marketing
    [00:27:17] - Major changes in the Facebook and Google digital marketing ecosystems
    [00:29:27] - Direct response marketing vs brand marketing
    [00:35:08] - The importance and impact of effective messaging
    [00:37:28] - The differences between good and bad conversions
    [00:40:56] - Does alpha still exist, is it worth looking for, and does beta have a place
    [00:43:25] - Fundamentals of a high performing marketing organization
    [00:50:04] - Attention aggregators of marketing agencies
    [00:50:18] - Nerdwallet - Thumbtack 
    [00:51:22] - Product channel fit
    [00:52:11] - PebblePost
    [00:53:58] - Lessons learned from working with Uber
    [00:55:42] - Retention marketing
    [00:57:31] - Upcoming frontiers of performance marketing
    [01:01:15] - Overview of Nerdwallet
    [01:03:36] - How Jesse’s time at Ampush has shaped his investment lens
    [01:07:20] - Lessons from bootstrapping a business vs venture capital funding
    [01:17:05] - The entrepreneurial execution loop and operating cadence 
    [01:29:20] - Kindest thing anyone has ever done for him

    • 1 hr 34 min

Customer Reviews

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