The Synopsis

In this episode of The Synopsis we read an excerpt from our Constellation Software research report, covering their Business History. If you prefer to read instead of listening to this article, you can find access to it below.   Article Link: Speedwell Memos - Constellation Software Business History   -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Intro  (1:13) – Article Reading Starts (9:25) – Closing...

In this company episode on Constellation Software, Speedwell Research draws on their extensive research report to cover everything from Mark Leonard's early insight into the quality of Vertical Market Software Businesses to their unique operating structure. Investors can learn not only about the software business, but also about how Constellation Software has created a conglomerate of hundreds of...

In this episode of The Synopsis we read our weekly Speedwell Research memo. If you prefer to read instead of listen to the memo, you can find access to the article below. This weeks article is If You Don't Know What Game You're Playing, You Already Lost Article Link:   https://www.speedwellmemos.com/p/if-you-dont-know-what-game-youre -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Intro (1:17) –Memo Rea...

On this episode we talk about a recent memo on how investors can influence businesses and what is difference between being a public versus private company. The memo we draw on is called "From Private to Public Markets: The Detrimental Impact of Investors' Expectations" and can be found here .   We recently found out we have a *duplicate Spotify feed* and will be *removing* it this week. Please fol...

*Important* If you listen on Spotify, make sure you follow us on this Spotify feed . We just became aware there was a duplicate feed, which we are disconnecting next week.  In this episode of The Synopsis we read our weekly Speedwell Research memo. If you prefer to read instead of listen to the memo, you can find access to the article below. This weeks article is From Public to Private Markets: Th...

On our very first interview we talk with Mostly Borrowed Ideas in a wide spanning interview on Meta, Google, Microsoft, and investment decision quality. Mostly Borrowed Ideas writes a deep-dive on a publically traded company every month. You can find more out about him and his writings here .    -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) Intro (2:37) Meta, Risks, Tiktok, ATT, Metaverse (26:22) Google...

On this episode we talk about how investment risks could impact an investment thesis through the lens of Etsy and Meta. We provide a short "timeless" update on both companies as well.  -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) Important Announcement (0:41) Intro (3:33) Etsy Value Prop, Issues, and Temu Read-through  (16:41) Meta Risks and The One Thing Investors Needed To Be Sure Of  (26:33) How to...

In this episode of The Synopsis we read an excerpt from our 79 page Etsy Report, covering Etsy's Business History. If you prefer to read instead of listening to this article, you can find access to it below.   Article Link: https://www.speedwellmemos.com/p/etsy-business-history     -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Important Announcement (0:45) – Intro  (1:36) – Article Reading Starts (30:...

Charlie Munger talks about the Latticework of Mental Models and how having exposure to many different disciplines helps gain insight into problems. Key to connecting different disciplines though, is the metaphor.  This week, on The Synopsis, we talk about our two Piton Network business philosophy pieces. The Piton Network is our attempt to create a metaphor that furthers investors and analysts und...

In this episode of The Synopsis we read our weekly Speedwell Research memo. If you prefer to read instead of listen to the memo, you can find access to the article below. This weeks article is Meta-Optimizations: Knowing When a Business is Operating From Strength or Weakness Article Link:  https://www.speedwellmemos.com/p/meta-optimizations-knowing-when-a   *Please note that this memo builds off a...

This week on The Synopsis, we talk about a recent memo, "The Future of Ecommerce That Wasn't: An In-depth Look into What Went Wrong with Wish". In this conversation we talk about Wish and what lessons we cannot draw from their lack of success. We also talk about our LTV and financial analaysis, as well as what Wish's value prop was compared to other competitors.  You can read the Full Memo  here ....

In this episode of The Synopsis we read our weekly Speedwell Research memo. If you prefer to read instead of listen to the memo, you can find access to the article below. There are several charts and excels in this memo that may be helpful to look at for more comprehensive understanding.  This weeks article is The Future of Ecommerce That Wasn't: An In-depth Look into What Went Wrong with Wish Art...

In this podcast on Evolution, Speedwell Research draws on their 74-page report to cover everything from the company's inception experimenting with a single roulette wheel to a global business with 60%+ margins. Studying this extremely unique business will teach listeners about the importance of value chain positioning, using negotiating leverage, and how to maintain a very lucrative business in a...

In this episode of The Synopsis we read a Speedwell Research memo from our backlog. If you prefer to read instead of listen to the memo, you can find access to the article below.  This weeks article is 10 Lessons from Copart's 40 Years in Business: Learning from Willis Johnson and Jay Adair Article Link: https://speedwellsnippets.substack.com/p/10-lessons-from-coparts-40-years -*-*-*-*-*-*-*-*-*-*...

This week on The Synopsis, we talk about a recent memo, "Google Shut the Door on Competition, AI Swung it Back Open". We cover some old threats to Google's Search dominance and how AI catalyzes them. This show is in our Dialogue format, which you can expect more of in the coming future. We hope you enjoy!  You can read the Full Memo  Here .  -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) Intro (0:51) Mem...

In this episode of The Synopsis we read our weekly Speedwell Research memo. If you prefer to read instead of listen to the memo, you can find access to the article below.  This weeks article is Google Shut the Door on Competition, AI Swung it Back Open Article Link: https://speedwellsnippets.substack.com/p/google-shut-the-door-on-competition -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Intro (0:44) -...

In this episode of The Synopsis we read a Speedwell Research memo from our backlog. If you prefer to read instead of listen to the memo, you can find access to the article below.  This weeks article is Priced to Outperform Perfection: The Home Depot Circa 1999 Article Link: https://speedwellsnippets.substack.com/p/priced-to-outperform-perfection-the   -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Intr...

In this episode of The Synopsis we read our weekly Speedwell Research memo. If you prefer to read instead of listen to the memo, you can find access to the article below.  This weeks article is The Risk Circle: Deciding What Risks Matter and When Article Link: https://speedwellsnippets.substack.com/p/the-risk-circle-deciding-what-risks   -*-*-*-*-*-*-*-*-*-*- Show Notes (0:00) – Intro (0:47) –Memo...

In this episode of The Synopsis we read our weekly Speedwell Research memo. If you prefer to read instead of listen to the memo, you can find access to the article below.  This weeks article is How Pies, Proofs, and Punch Cards Hold Key Insights into the Cost of Equity Article Link:  https://speedwellsnippets.substack.com/p/how-pies-proofs-and-punch-cards-hold   -*-*-*-*-*-*-*-*-*-*- Show Notes (0...

In this episode of The Synopsis we read our weekly Speedwell Research memo. If you prefer to read instead of listen to the memo, you can find access to the article below.  This weeks article is Understanding Modularity: How Apple, Bloomberg, and Amazon Kept Strategic Coherency  Article Link: https://speedwellsnippets.substack.com/p/understanding-modularity-how-apple   -*-*-*-*-*-*-*-*-*-*- Show No...

In this podcast on Floor & Decor, Speedwell Research covers everything from its founding as a single store in Atlanta, Georgia to becoming the leading hard surface flooring specialty chain retailer. We draw on Speedwell Research's 57 page research report to teach not just about the flooring industry and Floor & Decor's interlocking business model, but also about competitive dynamics and how to thi...

In this episode of The Synopsis we read an excerpt from our 63 page Walker & Dunlop Report. If you prefer to read instead of listening to this article, you can find access to it below.  This weeks article is from the business history section of our Walker & Dunlop report.    Article Link: https://open.substack.com/pub/speedwellsnippets/p/walker-and-dunlop-business-history?r=3jwcb&utm_campaign=post...

In this episode of The Synopsis we introduce a new episode format called, "Articles". As the name suggests, this episode will be a reading of a memo written by Speedwell Research. If you prefer to read instead of listening to the memos, you can find access to the article below. On this first Articles episode, we are reading our business philosophy piece introducing the concept of the Piton and the...

In this episode of The Synopsis we cover capital-light homebuilder, Dream Finders Homes. We dovetail into the homebuilding industry, the macro supply/ demand environment,   as well as detail Dream Finders Homes business model and how it differs from peer NVR. This podcast is informed by Speedwell Research's new short format reports, called "Exploratory Reports". We released the first Exploratory R...

In this episode of The Synopsis, we cover everything from Etsy's founding history and early strategic errors to how Josh Silverman quickly reaccelerated growth and improved profitability after several years of sagging performance. We dovetail into what makes the platform unique and how Etsy has been able to succeed where both eBay and Amazon failed. We draw on Speedwell's 79 page report to teach n...