Episode 102: The Growth of Clubhouse
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Ryan’s first topic was the history of TurboTax and how it has prevented individuals from getting automated filings from the U.S. government. It was timely as we are entering tax season, but also frustrating to listen to as it feels insane that the IRS can’t come up with a formalized way to do an individual filing.
The headline topic was a discussion of Clubhouse and these new social audio platforms that are popping up. The big questions we asked: Does Twitter have a chance to win here? Is this a potential threat to podcasts?
The Bumble IPO was insane and shows the frothiness of the early-stage public markets. 30-times sales for this business is a lot to ask for.
The Marks/Greenblatt interview on Real Vision was good. The big takeaway: in times of uncertainty, increase your margin of safety.
State of the fintwit was fun. I thought the discussion on “averaging up” and the psychological barriers to that were good. Also, I am now off my self-imposed Tesla/Bitcoin ban, which was harder than I thought it would be.
Buy, Sell, Hold was between Roblox, Epic Games, and Unity. Three great businesses that likely are trading at exorbitant prices at the moment.
The Bitcoin Mogul/Meme Stock story on Yahoo Finance was insane. I’ll let you read it for yourself.
Disclosure: The author and podcast guests are not financial advisors. Ryan Henderson and Brett Schafer are general partners and portfolio managers at Arch Capital. Clients of Arch Capital may hold securities discussed on this podcast.