Andrew Wagner on Copart (CPRT)
Yet Another Value Podcast
Is It a Traditional Marketplace Business?
In many ways, this is a traditional marketplace business and you can kind of see that in the proxy, there peers and collude companies like match group Tinder. So I would say that it's kind of driven by the network effects of the number of buyers that they can get globally. Do they have network advantages where every yard they open both domestically and internationally, they kind of grab, it's more valuable to them than anyone else? It seems like international should be attractive long term, but I don't think the margins have quite got there yet.
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