The Synopsis
Drew Cohen
In this podcast we share our insights from hundreds of hours of investment research and various topics Drew Cohen has covered on his YouTube Channel and Five Minute Money Newsletter. Most business podcasts are superficial and assume their listeners are unsophisticated. In contrast, The Synopsis trusts listeners are interested in learning about complex, business-specific issues, and want to know the deep details. We approach investing from the perspective of business owners, instead of Wall Street Commentators.
Drew Cohen is an investment manager, registered investment advisor, and founder of Speedwell Research, which produces in-depth research reports for hedge funds and asset managers. Speedwell Research spends hundreds of hours researching public businesses and I share my insights in various episodes. Start listening today to become a better analyst, investor and business-person.
Drew Cohen is an investment manager, registered investment advisor, and founder of Speedwell Research, which produces in-depth research reports for hedge funds and asset managers. Speedwell Research spends hundreds of hours researching public businesses and I share my insights in various episodes. Start listening today to become a better analyst, investor and business-person.
Episodes
Mentioned books
32 snips
Mar 23, 2026 • 1h 21min
Interview. Bill Nygren on 25 Years of Beating the Market
Bill Nygren, CIO of U.S. Equities at Harris Associates and Oakmark portfolio manager, is a longtime value investor with decades of outperformance. He discusses Oakmark's seven-year valuation horizon and private-equity lens. He explains discount-rate choices, valuing cyclicals and SaaS deferred revenue, the role of management, and case studies like Netflix, Meta, Salesforce and Airbnb.
13 snips
Mar 18, 2026 • 1h 6min
Interview. Shift4 CEO Taylor Lauber and CFO Christopher Cruz on Capital Allocation, Competition, and Global Blue Strategy.
Taylor Lauber, CEO of Shift4, leads product, go-to-market, and the Global Blue acquisition. Christopher Cruz, CFO, runs capital allocation and ROIC strategy. They discuss how Shift4 fits the payments value chain, durable competitive moats from integrated hardware-software-payments, capital allocation and gross profit payback metrics, and the strategic rationale and cross-sell mechanics behind the Global Blue deal.
10 snips
Mar 12, 2026 • 44min
Interview. Billionaire Square (Block) Cofounder Jim McKelvey on Competing Against Amazon
Jim McKelvey, cofounder of Square (Block) and author of The Innovation Stack, shares his short take on how some companies build hard-to-copy advantages. He recounts why Square outlasted Amazon, how linked problem-solution stacks form, and why copying often fails. He also contrasts invention versus imitation and explains design tradeoffs that seed viral growth.
24 snips
Mar 5, 2026 • 57min
Dialogue. Netflix Walks, Underlying Duolingo Growth Issues, and Bad Decisions at Paypal
Conversation covers Netflix stepping back from a major studio deal and what that means for content costs and consolidation. They dig into Duolingo's selloff, highlighting engagement and growth challenges rather than AI threats. A deep look at PayPal debates its business mix, past strategic missteps, and whether returning cash or chasing growth makes sense.
Feb 23, 2026 • 56min
Dialogue. ServiceNow and an AI SaaS Risk Breakdown
A crisp dive into ServiceNow’s AI control tower vision and whether agents could replace ticketing and workflows. A valuation snapshot examines EV/sales and mature-margin framing amid AI uncertainty. Debates cover AI commoditization, competitive threats from in-house teams, and which enterprise software is easier to disrupt. Final thoughts explore how orchestration and auditing could capture future value.
15 snips
Feb 19, 2026 • 1h 41min
Company. How Shift4 Built and Bought an Integrated Payments Powerhouse
A deep dive into how a payments company built integrated gateways and POS to capture more transaction profit. They trace a $100 payment to reveal where fees flow and why gateway control matters. Growth tactics like free terminals, ISO partnerships, and targeted venue wins are explored. Strategic M&A moves and risks from big purchases and heavy leverage are highlighted.
Feb 10, 2026 • 41min
Dialogue. SaaS Selling Off, CSU, and why Dating Apps Suck (as a Business)
They unpack the software selloff and whether AI-driven capex and commoditization threaten software moats. They debate Constellation Software’s steep repricing and where value capture still exists. They introduce the “point of monetization” idea to explain why dating apps struggle and discuss alternative ways to create and capture dating value.
18 snips
Feb 5, 2026 • 28min
Monologue. CSU Comments, plus AppFolio, Meta, & LVMH Updates
A rapid monologue covers LVMH's Q4 revenue and currency headwinds. AppFolio’s accelerating revenue, unit pricing and AI adoption get a close look. Meta’s strong topline, DAU growth, rising costs, capex and AI-driven ad lifts are discussed. There is also a valuation diatribe on trailing versus forward multiples and a quick note on Constellation Software context.
24 snips
Jan 28, 2026 • 46min
Dialogue. Breaking down Uber and the AV Threat
Alex, a frequent dialogue partner known for sharp conversational analysis, breaks down Uber’s past struggles and strategic shifts. They talk marketplace dynamics, grocery and delivery expansions, Uber Freight’s limits, and the big autonomous vehicle upside and downside risks. The conversation also covers Waymo, Tesla integration threats, agentic AI routing, and valuation scenarios.
20 snips
Jan 19, 2026 • 58min
Interview. Former Board of Director at Prada on The Luxury Industry
Claire Kent, a former board director at Prada with nearly 40 years in the luxury industry, shares her keen insights. She discusses the distinction between luxury and fast fashion, highlighting how brand DNA shapes consumer perception. Kent explains the rise of Gen Z's unique ownership attitudes and the impact of social media on brand status. She also addresses the economic challenges facing luxury brands, including pricing strategies and distribution control, while warning about the effects of the China slowdown on global growth.
