1min snip

Yet Another Value Podcast cover image

Speedwell Research's Drew Cohen shares thesis on FinTwit favorite, Constellation Software $CSU.TO

Yet Another Value Podcast

NOTE

The Evolution of Capital Allocation at Trapeze Software

In 1995, Trapeze Software shifted from centralized capital allocation to a holding company system, delegating allocation responsibilities to business units as they acquired more software companies. Employees were given autonomy to acquire businesses within their niche, with deals initially requiring approval for amounts exceeding $2 million, later increased to $20 million. Business units were empowered to make acquisition decisions as long as they met specified hurdle rates, with an expectation of at least a 20% incremental return by Mark Leonard in 2011.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode