The Acquirers Podcast Jonathan Tepper on The Myth of Capitalism, his "Shooting Up" memoir and $BKMG | S08 E07
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Feb 26, 2026 Jonathan Tepper, founder of Previt Capital and author of The Myth of Capitalism and Shooting Up, blends investing smarts with a personal memoir. He discusses concentration and record profit margins, why dominant platforms resist disruption, AI’s real threats to sectors, and the backstory behind his memoir and life from Spain to finance. Short, candid, and wide-ranging.
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Concentration Creates Durable Winners
- Concentration Creates Durable Winners and Safer, Lower-Risk Portfolios.
- Jonathan Tepper argues buying dominant companies with high returns on capital led to Previt's approach and guided purchases like Booking.com during COVID.
Buying Booking During COVID Rebound
- Booking.com Purchase Showed How Temporary Shocks Create Value Opportunities.
- Tepper bought Booking cheaply in 2020 expecting travel to rebound and noted CEO Glenn Fogel increased direct app traffic, defeating disintermediation fears.
Concentration Is Driving Record Profit Margins
- Rising Industrial Concentration Has Lifted Corporate Profit Margins.
- In The Myth of Capitalism Tepper links higher margins to mergers, regulatory barriers, and a weaker antitrust pendulum since the 1980s.
