The Joseph Carlson Show Uber, Spotify, Google Hedge Fund Analysis (My Reaction)
Oct 1, 2025
Dive into the exciting world of hedge fund investments as Spotify, Uber, and Google take the spotlight. Discover why Spotify is touted as a top position and the potential boom in spoken word content. Unpack Spotify's strategy to dominate audio with its attention-first model and learn how a recent court ruling might supercharge its growth. Explore Uber's marketplace benefits and the intriguing debate on autonomous vehicles. Finally, uncover the secrets behind Google's AI advantage and why its stock valuation is looking promising.
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Transcript
Episode notes
Attention Trumps Content Ownership
- Owning consumer attention at scale can be more valuable than owning content itself.
- Platforms with attention can repeatedly raise prices and monetize engagement across formats.
Direct Billing Lowers Churn
- Direct billing and lower signup friction materially reduce churn and lift lifetime value.
- Spotify gaining in-app purchase paths removes App Store commission friction and unlocks faster monetization.
Owning Billing Enables Churn Tests
- Joseph compares his Patreon-like experience to Spotify's control over billing to illustrate loss of customer control.
- He explains how owning billing lets you run churn-reduction tests and tailor offers directly to users.