Archive
Dive into a collection of past posts and rediscover timeless content.
Shift4
+1
Jun 30, 2024
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17 min read
Is Mr. Market wrong about Shift4?
Through their short history of being public companies, Shift4 has always been more profitable, but Toast has always enjoyed a higher valuation. What is the reason for that?
Square
+1
Apr 14, 2024
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6 min read
JPMorgan's leadership is not concerned with rising charge-off rates
JPMorgan’s credit card loan charge-offs surge to pre-pandemic highs, Visa finds growth in Europe, and Square lags competition
Shopify
+1
Mar 3, 2024
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11 min read
On the moat of vertically integrated software businesses
Shopify might be making most of its revenue from payments, but it's the software component of its business, the Shopify commerce platform that gives it the right to win. Does Toast have the same moat?
