"The Riff" with Byrne Hobart and Erik Torenberg
E13: Corporate Mortality, Momentum Investing, and Learning From Extreme Events
Feb 1, 2024
This podcast explores the mortality of corporations, why momentum investing works, and when to learn from extreme events. It also touches on preserving financial assets indefinitely, selling with Shopify, extreme events and power law distribution, and the economics of trade publications.
52:21
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Quick takeaways
- Mortality of corporations is discussed, highlighting the challenges and risks they face.
- The effectiveness of momentum investing is explored, providing insights into its mechanisms.
Deep dives
Trade Publications: Niche Content with Price-Incentivized Readers and Advertisers
Trade publications are unique in that they offer highly specialized content for a limited audience. These low-circulation magazines cater to industry professionals who have a direct financial interest in staying informed. The pricing model for trade publications differs from traditional media, as readers are typically price-insensitive given the potential financial gain from the information. Advertisers similarly recognize the value of reaching this niche and are willing to pay a premium for targeted access. This dynamic creates a lucrative cash-flow business that is difficult to disrupt due to the high level of industry competition and loyalty to existing publications.
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