30 Day Brain dump

I have been unplugged the last 30 days as I studied for an exam. During this time my notes have gone unvetted, so I am sharing some quick ideas here in hopes of feedback on what I should dig deeper into.

Apple + Yelp

  • I had a bit of a Peter Lynch moment when I noticed a Siri Suggestion to access an app of the restaurant I was inside. I do not have the Yelp app on my phone yet it appears Apple utilized my location to provide me with the opportunity to order from the restaurant’s menu via my phone. I have seen this at a few other restaurants too. I have yet to find any press releases to decode what “powered by Yelp” really means. Is this a huge deal for Yelp?
  • So basically you sit down first and order second if you fully adopt this functionality, bypassing the in store POS system?
  • Will Apple utilize location tracking to create an algorithm that finds the common dominator among all the people currently in the restaurant to play ‘optimal playlists?’ ( Via Apple Music)

Thule Group

  • I keep seeing Adomni advertisement screens on Uber’s and traditional taxi’s alike. I noticed the roof racks on all of cars were Thule. I started digging & found what may be the most helpful/ transparent Investors Relations page of any company.
  • There’s actually something really interesting behind these roof racks too. Thule Group is a legitimate lifestyle brand. It’s a way to bet on growth in outdoorsy activities as they sell bike racks, ski racks, cargo carriers, and these super cool rooftop tents. They’re doing this with 40% gross margins too.
  • The average age of a car on the road in the US is 12.1 years, will those buying new cars also need to buy new roof racks?
  • They are a market leader for the utility based items they sell but it does seem like there’s some optionality for brand extension, as they just opened their first US based store in Colorado.

Corsica Innovations

  • This product seems like a homerun — Basically a Keurig for growing weed.
  • Some may squawk at the $3,000 price tag but I really don’t see that being a huge hurdle. There is a payback period on the purchase when considering the savings of growing your own product & BNPL makes purchases like this much more manageable.
  • There are some old news articles about them prepping for an IPO or to get SPAC’d so this is on my watchlist.

ScottsMiracle-Gro

  • Gardening is Lindy. Scotts Miracle Grow is 135 years old, and a robust brand so probably a safe way to bet on gardening growth.
  • The stock has been getting hurt due to higher input costs, so buying SMG seems like a way to bet on inflation being transitory?
  • Overall I just love what SMG does – Gardening, hydroponic lightening and neat stuff like a sod that apparently requires 50% less mowing thereby reducing carbon emissions from lawn mowers.

Badger Daylighting

  • I believe there will be growing demand for hydrovac excavation moving forward and had been exploring ways to invest in this trend but found nothing. Until I came across Badger Daylighting. It seems like they’re rolling up vactrucks across the country- 1,200 trucks across the US & Canada.
  • I think it’s possible it becomes illegal to dig up utilities without hydrovac excavation.

Crocs

  • No wonder CROX is at all time high, seems like EVERYONE is wearing Crocs.
  • Now the only question is, how much growth is left? I don’t think there is much room for brand extension beyond their quirky footwear but who knows.

Yeti

  • Unlike Crocs, I think Yeti has had the most impressive brand extension I’ve ever seen. I am fully on board with the idea that Yeti is a special brand. I’m very excited for the potential of international growth as the brand is a bonafide status symbol.

Matterport

  • I just don’t see how ‘Matterport’ing’ a house doesn’t become industry standard for all new home listings. Apart from being more engaging there is the ability to virtually stage homes which saves time and money. Virtual staging will disrupt a multibillion dollar industry. Not to mention the product placement possibilities that come with virtual staging, like say adding a virtual Peloton to a room.
  • With all the data Matterport is sucking up, why don’t they just start their own prop trading desk? ( Joke, but also not really).

Everbridge

  • When you go to a restaurant and they text you when your table or food is ready that’s likely powered by Twilio. It might be fair to say this functionality will be desired by most consumers moving forward.
  • The same concept applies to Everbridge where they allow municipalities to communicate with residents via text or email. Everbridge seems REALLY sticky. It not only helps improve safety and inform citizens but it also now feels like something we should expect from our municipalities.

Fiverr and Upwork

  • What is the end state for these two companies? Do they just become bolt-ons for a company like LinkedIn or YouTube? They have admittedly huge TAMs but are still relatively small overall.
  • If one gets acquired how should we think about the remaining player? Would the standalone company now be much more challenged to retain their existing talent & attract new clients?

Business Breakdowns Podcast

  • Really excited about Zoominfo after hearing this podcast, It’s hard not to get excited anytime a product or service feels essential to people executing their jobs.
  • The episode on Blackstone was really good too. This was just reinforcing priors as I have accepted the reality that Private Equity’s influence on markets is here to stay. Allocating some % of your portfolio to PE seems prudent moving forward. This plays on a larger belief of mine whereby public markets continue to take share from smaller mom n pop operations.

Vimeo

  • What’s up with this broken IPO? Do I need to start looking at this company? The IAC crowd was pumped pre spin-off but I have no clue what sentiment currently is regarding the company.
  • I have this idea where I think we’re seeing the ‘School-ification’ of work where employers are now better able to record training videos and create instructional libraries. I believe this is where Vimeo excels as it seems like a better method of keeping this material internal compared to YouTube.