We apply the principles of value investing to the industries of the future.
Conversations and observations about businesses, technology, industries, and long-term investing.
Atlassian's latest investor day showed growing ambition from this 20-year old cloud pioneer. A transcript with additional links can be found here: https://www.hellerhs.com/post/atlassian-growing-ambition
Episode detailsSoftware as a service (SaaS) companies are frequently misunderstood because they are investing for the long-term and don’t generate accounting profits today. It turns out SaaS shares an eery resemblance to Walmart when it was in hypergrowth mode. To find out why, listen on. A…
Episode detailsHow do modern business empires resemble the Mongolian Empire assembled by Genghis Khan and his descendants? And why is it important, as an investor, to identify these empires? For a transcript and images referenced in the show, please visit:…
Episode details“In the next three to five years, every brand will have a Roblox strategy.” Quite an interesting statement from Roblox's VP of Brand Partnerships, Christina Wootton! In this episode we explore the opportunity for Roblox to build an advertising business and dramatically…
Episode detailsAlmost a year after I asked the question, is the answer closer to a "yes"? What can the city do to ensure it succeeds? Listen in to find out. As always, a transcript is available at: https://www.hellerhs.com/post/could-miami-become-a-world-class-tech-hub
Episode detailsHow do we think about investing at Heller House? This episode explores how we think about our companies, the markets they operate in, valuation, and much more. We discuss our values, alignment of interests, mission and goals. A transcript of this episode is available here:…
Episode detailsKlarna, Affirm, and AfterPay are taking an increasing share of ecommerce payments by offering buy now, pay later (BNPL) to consumers. We take a close look at Affirm, and how it's actually a really old idea whose time has finally come. A transcript is available on our site:…
Episode detailsBlake Scholl, the founder of Boom Supersonic, likes to say that there are only two places in the world where you can find a supersonic airliner: in a museum, and in Boom's headquarters. In this episode, we talk about this interesting company that is trying to finally bring…
Episode detailsToday’s episode is called GEICOs of the 21st century. The big idea I was trying to communicate to my investors at the time was that I was evolving from pursuing investments in “cheap” securities, to instead pursuing investments similar to GEICO when Ben Graham invested in it…
Episode detailsAre things getting better, or worse? It feels the answer is "yes"
Episode detailsWhat is the metaverse? Its full expression will be a persistent, immersive virtual reality. We will shop in the metaverse; we will hang out with friends; play games and sports; and learn about ancient Rome not by reading about it in a book, but by being there in person in a…
Episode detailsIn this interview with John Rotonti of The Motley Fool, we really cover the waterfront. We talk about portfolio construction, valuation, and discuss the following companies: Shopify, Wix, Slack, PayPal, Square, Twilio, Roku, Spotify, and Zoom. We also talk about the…
Episode detailsThis week we are back with another conversation with my friend Ryan Reeves, this time on Lemonade ($LMND). We talk about the bull and bear cases for the company, the financial model, the importance of using imagination when thinking about the future, and what I think is the…
Episode detailsIn this interview with Ryan Reeves, which originally aired on Nov. 25, 2019, we go deep into a discussion on Shopify and Slack, the competitive landscape with other ecommerce and collaboration solutions, and much more. You can find a transcript of our conversation here:…
Episode detailsAs investors, we must keep an open mind, but most people resist new ideas. In this episode, which originally aired in the 7Investing Podcast, Matthew Cochrane interviews Marcelo P. Lima about keeping that mental flexibility; how to learn new things; how to value fast-growing…
Episode detailsHow did the internet fundamentally change business? It's all about zero marginal costs, and playing a different game: blanket the world, capture customers, and only then, monetize them. We discuss Zoom, Slack, Atlassian; talk about Ben Graham's investment in GEICO, in 1948;…
Episode detailsHow does innovation work? How early are we in cloud computing? What are the next computing platforms? In this wide-ranging discussion, Todd Peters interviews Marcelo P. Lima about these topics and much more. A transcript of this talk is posted at…
Episode detailsWhat is a franchise, and when does it turn into an ordinary business? This question was posed by Buffett many years ago. With the disruption wrought by the internet, many existing franchises are being destroyed... but many new ones are being created. This episode is a reading…
Episode detailsHello, my name is Marcelo Lima and I’m an investment manager at Heller House. This is our podcast, Increasing Returns. The name Increasing Returns is inspired by W. Brian Arthur’s essay called Increasing Returns and the New World of Business, from 1996. That essay explains…
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