Run the Numbers
E34: BlackRock Managing Director Tony Kim on the Secrets of Durable Companies
Jan 29, 2024
Tony Kim, Managing Director at Blackrock, discusses the secrets of durable businesses, unreliable TAM measure, competitive moats, 2nd/3rd acts for growth. They touch on durable revenue, data gravity, determining expansion opportunities, fundamentals in AI investments, the challenge of handling the backlog of unicorns, and analyzing CEO and CFO messages.
48:50
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Quick takeaways
- Dominance and moats are crucial for long-term success in the tech industry.
- TAM numbers should be critically evaluated and not solely relied upon for company evaluations and valuations.
Deep dives
The Importance of Dominance and Moats
One of the key ideas discussed in the podcast is the importance of dominance and moats in the tech industry. The speaker highlights the need for companies to dominate their respective categories and establish a strong competitive advantage. Companies that can achieve dominance and build lasting moats are more likely to succeed in the long term. This concept is exemplified by the example of simulation and chip design software companies, which have established dominance in their niche and developed gravity and durability in their respective markets.
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