We Study Billionaires - The Investor’s Podcast Network

TIP728: Mastermind Q2, 2025: Microsoft, Block, Devon Energy, Adyen

81 snips
Jun 8, 2025
Guest
Tobias Carlisle
Guest
Hari Ramachandra
Hari Ramachandra and Tobias Carlisle join the discussion, providing sharp insights into their chosen stocks. Hari is enthusiastic about fintech giants Block and Adyen, emphasizing their growth potential and competitive strategies. He delves into valuation concerns and market disruptions. Meanwhile, Tobias shines a light on Devon Energy, arguing it stands to benefit from the oil sector's volatility, though he cautions about its debt level. They explore the challenges and future growth in both fintech and energy, all while fostering meaningful investment community connections.
Ask episode
AI Snips
Chapters
Books
Transcript
Episode notes
INSIGHT

Adyen vs. Block Business Models

  • Adyen operates a vertically integrated B2B payment platform focusing on large global enterprises, offering high margins and high switching costs.
  • Block targets small and medium businesses with diverse ventures, reflecting more volatility but also growth optionality priced accordingly.
INSIGHT

Valuation and Risk Trade-offs

  • Adyen is priced for perfection at 23 times sales, while Block is priced for uncertainty at about 1.5 times sales.
  • The choice depends on preference for stability and established growth versus optionality and venture-like risk.
INSIGHT

Payments Industry Disruption Risk

  • Payments face potential disruption from open, government-backed rails like India's UPI, challenging existing payment providers.
  • This could threaten Visa, MasterCard, Adyen, and Block if ecosystems become interoperable.
Get the Snipd Podcast app to discover more snips from this episode
Get the app