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Artwork for Business Breakdowns
Patek Philippe
Artificial Intelligence
Private Equity
Healthcare
Venture Capital
Rolex
Investment Strategies
Olympic Games
Mergers and Acquisitions
Private Credit
Drug Development
Graco
Paris 2024
Venture Secondaries
Jack Henry
Apollo
Compass Group
Gartner
Coupang
Sherwin-Williams

Learn how companies work from the people who know them best. Each episode dissects a single business - from its origins and model to its financials and competitive edge. Join hosts Matt Reustle and Zack Fuss as they uncover the lessons behind every success story. Learn more at www.joincolossus.com.

PublishesWeeklyEpisodes260Founded5 years ago
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InvestingBusiness

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Artwork for Business Breakdowns

Latest Episodes

Today, we are breaking down Toast, a name we have covered before but are revisiting because the story has changed enough to be worth telling again. Most listeners will have tapped a Toast terminal without thinking much about the business behind it.

more

Today, we are breaking down Auto1, and this is an interesting episode because we are tackling a business that most US listeners will not be familiar with, even though it resembles names they already know well.

Our guest is Harrison Moot, co-founder ... more

Today, we are breaking down Opendoor, and this is a unique episode. We recorded with Kaz Nejatian, the CEO of Opendoor, shortly after the company reported its first quarter 2026 earnings, and we covered both what is happening inside the business righ... more

Today, we are breaking down PriceSmart, the membership warehouse club operating across Central America, the Caribbean, and South America. I came away from this episode with a new appreciation for how a single retail concept and a single family have s... more

Key Facts

Accepts Guests
Accepts Sponsors
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Find out how many people listen to this podcast per episode and each month.

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Recent Guests

Sean Barrett
Founder and CIO at Counter Global
Counter Global
Episode: Toast: Sticky SaaS - [Business Breakdowns, EP.247]
Harrison Moot
Co-founder and CIO of Sandstone
Sandstone
Episode: Auto1: EU-sed Car Marketplace - [Business Breakdowns, EP.246]
Kaz Nejatian
CEO of Opendoor
Opendoor
Episode: Opendoor: Q1 2026 Earnings - [Business Breakdowns, EP.245]
Markus Hansen
Guest, investor/analyst familiar with Casey's General Stores episode
Episode: PriceSmart: Central America’s Costco - [Business Breakdowns, EP.244]
Luke Bridgeton
Portfolio manager at Hosking Partners
Hosking Partners
Episode: Altius Minerals: Royalty Check - [Business Breakdowns, EP.243]
Jeremie Fastnacht
Fund Manager at Banque de Luxembourg Investments
Banque de Luxembourg Investments
Episode: Givaudan: The Magic Ingredients - [Business Breakdowns, EP.242]
Hunter Hopcroft
Financial analyst and writer based in New York
Episode: Apollo: Connoisseurs of Complexity - [Business Breakdowns, REPLAY]
Brett Larson
Investment professional from NZS Capital
NZS Capital
Episode: Cognex: Vision Quest - [Business Breakdowns, REPLAY]
Tom Walsh
Portfolio manager at Baillie Gifford
Baillie Gifford
Episode: ASML: Competing with Moore’s Law - [Business Breakdowns, REPLAY]

Hosts

Matt Russell
Host of the show; frequent lead interviewer focusing on business models, scaled platforms, and defensible economics.
Matt Reustle
Co-host and primary moderator for many episodes; guides in-depth dives into company frameworks and investment theses.
Zack Fuss
Co-host mentioned in intro; supports analysis and guest prompting, often highlighting practical implications for investors.

Reviews

4.9 out of 5 stars from 1.9k ratings
  • Now you tell us

    Amphenol —please tell us about a company before it goes up 80% YTD 👎

    Apple Podcasts
    3
    Eddo's IPOD
    United States8 months ago
  • Very informative

    Please also consider episodes on Curtis Wright and revisit United Health.

    Apple Podcasts
    5
    Rayxzs
    United States9 months ago
  • Very informative

    Please also consider episodes on Curtis Wright and United Health.

    Apple Podcasts
    5
    Rayxzs
    United Statesa year ago
  • Wow!

    I love it. It’s like modern MBA (on YouTube) as a podcast. Thank you!

    Apple Podcasts
    5
    Gabn1
    Germanya year ago
  • 非常棒

    清晰 详尽 流畅

    Apple Podcasts
    5
    APPLChyna
    China2 years ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Broad, well-researched company breakdowns with strong host prep.
Listeners appreciate the depth and breadth across industries.
Guests are knowledgeable; practical insights for investors.
Audio quality and production can be inconsistent at times, with some episodes feeling promotional.

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Apple Podcasts
#115
United States/Business/Investing
Apple Podcasts
#67
Canada/Business/Investing
Apple Podcasts
#67
United Kingdom/Business/Investing
Apple Podcasts
#185
Canada/Business
Apple Podcasts
#228
United Kingdom/Business
Apple Podcasts
#34
Italy/Business/Investing

Talking Points

Recent interactions between the hosts and their guests.

Toast: Sticky SaaS - [Business Breakdowns, EP.247]
Q: What are the key risks and how does the management address them, especially around churn and competition?
Risks include macro exposure, industry churn, and price sensitivity; Counter Global believes Toast maintains leading gross retention and a resilient model, while management continuously expands the product set (e.g., Toast Grow) to sustain ARPU and deter competitors.
Toast: Sticky SaaS - [Business Breakdowns, EP.247]
Q: How does Toast's revenue mix and pricing work, particularly regarding recurring software vs. payments?
Revenue is a blend of payments gross profit, software ARPU, hardware, and lending; software and payments are the core recurring streams, with hardware largely a low-margin but essential component that supports the ecosystem and increases stickiness.
Toast: Sticky SaaS - [Business Breakdowns, EP.247]
Q: Could you give a current snapshot of Toast's financials and how they compare to 2020?
Toast has evolved from negative margins to 35% EBITDA margins with multiple total addressable markets unlocked; it now operates with durable gross profit and expanding margins, supported by a strong recurring software and payments mix and international expansion.
Auto1: EU-sed Car Marketplace - [Business Breakdowns, EP.246]
Q: Why is Auto1 considered more than a dealer—what makes it a platform?
Because it combines a two-sided network, data-driven pricing, centralized refurbishment, logistics, and financing, creating network effects that improve liquidity and pricing as the platform scales, unlike pure classifieds or standalone dealer models.
Auto1: EU-sed Car Marketplace - [Business Breakdowns, EP.246]
Q: What are the main growth levers that could lift margins over time?
Expanding supply, growing the dealer network, increasing Auto Hero's share of volume, and attaching more financing to both merchant and consumer transactions to raise unit economics and profitability.

Audience Metrics

Listeners, social reach, demographics and more for this podcast.

Listeners per Episode
Gender Skew
Location
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Frequently Asked Questions About Business Breakdowns

What is Business Breakdowns about and what kind of topics does it cover?

Across episodes, the show takes a rigorous, company-by-company approach to dissecting business models, economics, and competitive dynamics. Guests range from founders and investors to operators who bring practical insights on valuation, margins, and growth levers, with a steady emphasis on capital allocation, pricing power, and industry structure. A standout aspect is the clear, framework-driven storytelling that helps listeners understand not just what happened, but why it happened and how value was created or destroyed. The format tends to attract finance professionals and serious enthusiasts who want actionable takeaways and a deeper understanding of how durable businesses generate returns.

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How many listeners does Business Breakdowns get?

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How many subscribers and views does Business Breakdowns have?

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Which podcasts are similar to Business Breakdowns?

These podcasts share a similar audience with Business Breakdowns:

1. Invest Like the Best with Patrick O'Shaughnessy
2. Capital Allocators – Inside the Institutional Investment Industry
3. Value Investing with Legends
4. Yet Another Value Podcast
5. The Synopsis

How many episodes of Business Breakdowns are there?

Business Breakdowns launched 5 years ago and published 260 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

How do I contact Business Breakdowns?

Our systems regularly scour the web to find email addresses and social media links for this podcast. We scanned the web and collated all of the contact information that we could find in our podcast database. But in the unlikely event that you can't find what you're looking for, our concierge service lets you request our research team to source better contacts for you.

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What guests have appeared on Business Breakdowns?

Recent guests on Business Breakdowns include:

1. Sean Barrett
2. Harrison Moot
3. Kaz Nejatian
4. Markus Hansen
5. Luke Bridgeton
6. Jeremie Fastnacht
7. Hunter Hopcroft
8. Brett Larson

To view more recent guests and their details, simply upgrade your Rephonic account. You'll also get access to a typical guest profile to help you decide if the show is worth pitching.

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