In this episode, my guest Jakub (@jakubhajost on X) and I unpack InPost – one of Europe’s most fascinating business-infrastructure stories that sits at the intersection of logistics, technology, and e-commerce enablement. We go beyond the obvious “locker company” label and explore the deeper mental model: Is InPost a logistics operator, a tech platform, or the rails of European e-commerce? We break down why millions of consumers choose out-of-home delivery over the doorstep, what the actual user experience looks like, and how layers like app-based label-less tracking, loyalty, payments, AI-driven operations, returns, C2C, and cross-border capabilities strengthen the flywheel. We also examine the win-win-win-win proposition – how InPost creates value not only for shoppers, but for merchants, landlords, and society. We zoom out to Europe: when InPost stopped being a Poland-only champion and became a continental scale story, how consumer habits and cultural differences impact locker adoption, and which markets could matter most next – organically or via M&A. Then we pressure-test the idea: * What’s the strongest bear case, and why have competitors like Amazon, DHL, Allegro, and shared-locker networks not matched InPost’s ecosystem control or cost curve? * How real is the empire-building risk around international expansion and acquisitions like Mondial Relay? * What do institutional investors still misunderstand about the business? Finally, we look to the future – cross-border deliveries, valuation frameworks, potential international parcel economics, and the long-term destination analysis: If InPost executes perfectly, what does success look like by 2030–2035, and ultimately 2030 or 2035? Could this become “the European Amazon in the making”? If you want to understand one of Europe’s most asymmetric, misunderstood, and potentially moat-rich infrastructure plays – this one is for you. My deep dive: Disclaimer: Both Jakub and I own shares in InPost. The analysis presented in this blog may be flawed and/or critical information may have been overlooked. The content provided should be considered an educational resource and should not be construed as individualized investment advice, nor as a recommendation to buy or sell specific securities. The stocks, funds, and assets discussed are examples only and may not be appropriate for your individual circumstances. It is the responsibility of the reader to do their own due diligence before investing in any index fund, ETF, asset, or stock mentioned or before making any sell decisions. Also double-check if the comments made are accurate. You should always consult with a financial advisor before purchasing a specific stock and making decisions regarding your portfolio. Get full access to Compound with René at www.compoundwithrene.com/subscribe
