

Hometown Holdco: Geography as Moat
17 snips Jun 12, 2025
Matthew Ferguson and Sarah Chiles, co-owners of Aspen Total Automotive and co-founders of PTSDM Holdings, share their inspiring journey back to their hometown of Aspen. They discuss their transition from venture capital to local business ownership, aiming to preserve Aspen's culture. The duo delves into the unique challenges they faced in a small resort town, including navigating community expectations and seasonal dynamics. They emphasize the importance of employee engagement and building trust with customers while championing sustainable local business practices amid gentrification.
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Small Town Monopoly Dynamics
- Aspen's small-town homogeneity creates many local monopolies with high barriers to entry.
- This dynamic offers pricing power but caps organic growth due to the limited market size.
COVID Sparks Permanent Gentrification
- COVID accelerated Aspen's gentrification by shifting billionaires from vacationers to year-round residents.
- This permanently pushed up living costs, displacing many long-time local workers and businesses.
The Tackle Shop Business Model
- Embracing a "tackle shop" style business means playing a long-term, stable game rather than chasing rapid growth.
- Permanent capital and community investment create a sustainable local holdco mindset.