The Vested Finance Podcast

Vested's Podcast, Episode #26: Super Apps & Grab

by Vested Finance

Welcome to the Vested Finance podcast!

In this session, we will be discussing what constitutes a super application or super app. These are the apps that strive to be the operating systems of our lives. We dive into super app operator Grab as well as its founding history and business model.

Date uploaded: June 22th, 2021 (IST)

Co-hosts: Darwin Arifin & Gabe Tamez

Show Notes:

(1:12) Examples of different apps that exist and their use cases

(2:06) Criteria for being deemed a “super” app

(4:00) Super app dominance in Asian countries

(5:04) A brief history of Grab and its competitor Gojek

(7:37) A dive into Grab’s financials and business operations

(9:35) Notable trends in Grab’s business model. The importance of digital payments

(11:40) A business overview of SouthEast Asia versus China

(13:50) Comparing Uber and Grab’s average revenue per user

Welcome to the Vested Finance podcast!

In this session, we will be discussing the data behind investing in IPOs and whether or not it is recommended for investors. We also discuss Coinbase’s recent IPO and provide a breakdown of the company’s strategy.

Date uploaded: June 15th, 2021

Co-hosts: Darwin Arifin & Gabe Tamez

Show Notes:

(1:44) The returns equation

(5:08) Navigating hype, valuation changes and narratives for new IPOs

(5:52) Returns data for new IPOs going back 40 years

(8:30) Breakdown of investing in small IPOs

(9:02) Silver lining of investing in large, tech IPOs

(10:10) Coinbase's IPO and stock performance

(11:18) The vertically integrated model for Coinbase

(14:49) Service and recurring revenue breakdown

(18:57) Risks associated with investing in Coinbase stock

(21:38) Asset class risk and regulation of Bitcoin and other crypto-assets

Welcome to the Vested Finance podcast!

In this session, we will be talking about Roblox's IPO and the vertical gaming social media arena. Several of the topics discussed in this podcast are covered in our blog post (see link below).

Date uploaded: Wednesday, 17th March 2021
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(0:47) To quote Reed Hastings...

(1:10) Active entertainment > Passive entertainment

(1:36) Patience is a virtue

(2:15) Direct listing > Traditional IPO

(2:37) What is Roblox?

(3:44) The concept of the metaverse

(5:07) History lesson aside, let's talk $$$

(5:47) Speaking of $$$, how do Roblox's army of developers earn money?

(7:45) DAU: On metrics and the like

(8:27) How engaged are Roblox's users?

(10:14) Time for a comparison

(10:51) Extending Roblox's grasp

(11:40) Risks: Cost and valuation

Welcome to the Vested Finance podcast!

In this session, we will be talking about the recent market sell-off and its implications. Several of the topics discussed in this podcast are covered in our blog post (see link below).

Date uploaded: Wednesday, 10th March 2021
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(0:40) The Market Sell-off: What happened?

(1:17) Why has the yield gone up?

(2:45) So, what next?

(3:19) Which areas are the most affected?

(4:20) A stronger US dollar

Welcome to the Vested Finance podcast!

In this session, we will be talking about electric cars in relation to smartphones as well as Coinbase's recent IPO announcement. Several of the topics discussed in this podcast are covered in our blog post (see link below).

Date uploaded: Wednesday, 3rd March 2021
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(0:33) Are EVs the new smartphones???

(1:24) ICE: The Gist of Things

(2:59) ICE: Dominated by US, Japan and Germany

(3:21) Building in-house

(4:07) The simplicity of the electric motor

(4:34) The use of contract manufacturers

(6:04) What of the EV's defensible moat?

(6:48) It's all about control

(8:20) The need to create EV software...

(8:44) ...But let's face it, that's a complex and daunting task!

(10:39) A massive opportunity

(11:22) Time for crypto trading

(12:42) Pickaxes...invariably

Welcome to the Vested Finance podcast!

In this session, we will be talking about the trend of digitizing housing transactions and will be covering two key names: Zillow and Opendoor. Several of the topics discussed in this podcast are covered in our blog post (see link below).

Date uploaded: Wednesday, 24th February 2021
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(0:32) Traditional housing transactions create friction

(3:12) Traditional housing transactions create stress

(3:42) The move to eliminate inefficiencies

(4:55) Zillow, Redfin and Opendoor

(6:12) iBuying and the question of making money

(7:06) The Big Two: Opendoor and Zillow

(8:38) Zillow's 3 key segments

(9:50) Why did Zillow transition to iBuying?

(10:31) The Two-sided Marketplace

(11:40) Let's talk unit profitability

(12:53) The Big Prize: US $36 trillion

Welcome to the Vested Finance podcast!

In this session, we will be talking about Tesla's big gamble with Bitcoin as well as Uber's 2020 earnings. Several of the topics discussed in this podcast are covered in our blog post (see link below).

Date uploaded: Wednesday, 17th February 2021
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(0:42) The Big Leap

(3:18) Bitcoin as a form of payment?

(7:42) All a matter of risk

(9:17) Speaking of risks, let's talk legal

(10:45) ...and if Bitcoin stumbles?

Welcome to the Vested Finance podcast!

In this session, we will wrapping up our analyses on Q4 earnings, covering namely: Amazon, Facebook and Google. We'll also be doing a comparison on advertising for these companies. Several of the topics discussed in this podcast are covered in our blog post (see link below).

Date uploaded: Wednesday, 10th February 2021
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(0:30) Without further ado...Amazon!

(3:32) Hold your horses! Jeff Bezos is stepping down???

(4:26) Moving on, Facebook

(9:23) Yes, yes, Google did well too (What a "surprise")

Welcome to the Vested Finance podcast!

In this session, we will be talking about the GameStop saga, as well as Apple's and Tesla's earnings. Several of the topics discussed in this podcast are covered in our blog post (see link below).

Date uploaded: Wednesday, 3rd February 2021
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(0:30) What of GameStop?

(5:12) Volatility and Retail Brokers don't mix

(7:44) ...then what of the market?

(9:39) All things must come to an end

(10:46) Apple & Feats = A potent mix

Welcome to the Vested Finance podcast!

In this session, we will be discussing Netflix's Q4 2020 earnings announcement and will also do a comparison between two of Netflix's biggest rivals: Amazon and Disney+. Several of the topics discussed in this podcast are covered in our blog post (see link below).

Date uploaded: Wednesday, 27th January 2021
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(0:30) A few key highlights!

(1:38) Positive FCF: So what?

(3:07) "To issue and sell or to choose debt?" That is the question.

(4:53) Positive FCF: How did Netflix get here?

(7:16) Achieving sustainable cash flow

(8:31) Competition: Does it even matter anymore?

(13:21) Disney+: A formidable foe

Welcome to the Vested Finance podcast!

In the continuation of our 2-part series on Amazon, we delve into areas such as B2B and B2C, biometric and voice identification, Amazon Pay, Merchant Services, as well as AWS. Some of the topics discussed in this podcast are covered in our blog post (see link below).

Date uploaded: Wednesday, 20th January 2021
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(0:54) First and foremost, B2C

(3:00) Accessing the world through one's palm and voice

(6:12) Amazon Pay

(7:16) How Amazon makes money from payment solutions

(8:10) Merchant Services: SMB & AMEX

(9:34) AWS: The Holy Grail of Cloud

Welcome to the Vested Finance podcast!

Over the next two sessions, we will be talking about Amazon. The first part includes topics such as the 3rd party marketplace, pharmacy and healthcare, online delivery services, entertainment and the internet. Some of the topics discussed in this podcast are covered in our blog post (see link below).

Date uploaded: Wednesday, 13th January 2021
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(0:32) An epic start to 2021!

(1:13) Room to grow for a titan

(3:45) The 3rd Party Marketplace

(5:31) "Difficulty" is not in Amazon's dictionary

(6:48) Fear is not an option

(7:46) Amazon Care and Amazon Halo

(10:11) Online delivery services

(13:18) Entertainment, Part #1: Audio

(14:32) Entertainment, Part #2: Video

Welcome to the Vested Finance podcast!

In this session, Darwin Arifin, a co-founder at Vested Finance discusses D2C with Pankaj Naik, Executive Director and Co-Head of Digital and Technology Investment Banking @ Avendus.

On Pankaj: Pankaj is a seasoned banker with 20 years of banking experience. Prior to Avendus, he worked at J.P. Morgan and Merrill Lynch. Pankaj holds an MBA from IIM Calcutta.

On Avendus: Avendus is the leading investment bank for technology deals in India. It has advised tech companies such as Lenskart, Swiggy, Nykaa, BookMyShow, Policybazaar, Ola, Acko, Zenoti, Mettl, to name a few.

Date uploaded: Wednesday, 16th December 2020
Co-hosts: Darwin Arifin & Kaihan Lin
Guest: Pankaj Naik

Show Notes:
(0:18) Who is Pankaj Naik?

(0:53) Everything India: D2C, capital funding surrounding Covid, and the India-China relationship

(1:13) The rise of D2C

(3:14) Compatibility with the D2C model

(5:15) The Digital Middlemen

(8:02) The future of D2C in India

(11:35) Impact of Chinese FDI in India, on the grand scheme of things

(14:21) Startup funding: Adapting to the lockdown in India

(15:55) On raising funds during these tumultuous times

Welcome to the Vested Finance podcast!

In this session, we will be discussing numerous topics: Banks and non-banks, Affirm's IPO, as well as Ant Group's failed IPO. Several of the topics discussed in this podcast are covered in our blog post (see link below).

Date uploaded: Wednesday, 9th December 2020
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(0:38) More on company IPOs!

(2:27) Starbucks and Role #1: Taking deposits

(3:33) Affirm: The gist of things

(3:54) Affirm and Role #2: Lending

(6:35) Affirm's 3 shareholders

(7:17) Going public equates to doing well, no?

(8:31) And on to Ant Group...

(10:58) Ant: Distancing itself from the banks

(11:40) Collision course

(13:20) Food For Thought: Avoiding the government's wrath

Welcome to the Vested Finance podcast!

In this session, we will be discussing Tesla's inclusion into the S&P, Tesla's market cap versus Berkshire Hathaway's, as well as the EV Bubble. Several of the topics discussed in this podcast are covered in our blog posts (see links below).

Date uploaded: Wednesday, 2nd December 2020
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(0:38) All things Tesla, plus the rise of the electric vehicle industry

(0:56) The complexities of index inclusion

(2:15) Why do share prices drop, post-inclusion?

(3:53) Tesla vs. Berkshire Hathaway

(5:28) The EV Bubble

Welcome to the Vested Finance podcast!

In this session, we will be discussing Airbnb's upcoming IPO. Several of the topics discussed in this podcast are covered in our blog post (see link below).

Date uploaded: Wednesday, 25th November 2020
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(0:40) Time to IPO

(2:34) A swift recovery, all things considered

(3:29) What of Airbnb's profitability?

(5:09) Desperate times, desperate measures

(7:40) In good hands

Welcome to the Vested Finance podcast!

In this session, we will be talking all about vaccines. Several of the topics discussed in this podcast are covered in our blog post (see link below).

Date uploaded: Wednesday, 18th November 2020
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(0:41) A deep sense of frustration

(1:06) Pfizer @ 90%

(2:00) Vaccines 101

(3:57) Is an end in sight?

(6:18) Vaccinating 7 billion people

(8:21) The intricacy of vaccines

(9:23) Logistics, production & investments

(10:30) Supplying developing nations

(10:53) Arriving at herd immunity

(12:48) The inevitability of volatility in shares

Welcome to the Vested Finance podcast!

In this session, we will be discussing the impact of the US elections as well as ARPU. Several of the topics discussed in this podcast are covered in our blog post (see link below).

Date uploaded: Wednesday, 11th November 2020
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(0:47) Who else but Biden?

(3:42) What a Biden win entails

(5:14) A lame duck presidency...for now

(6:36) What of executive orders?

(8:43) The question of big tech

(9:25) China and the status quo

(11:37) Amazon and ARPU

Welcome to the Vested Finance podcast!

In this session, we will be discussing Q3 earnings for Facebook, Apple, Amazon, Microsoft and Google. Several of the topics discussed in this podcast are covered in our blog post (see link below).

Date uploaded: Wednesday, 4th November 2020
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(1:01) A mere scratch to the castle that is Facebook

(3:21) Diving into the cloud gaming fray

(3:54) Facebook's channel strategy

(5:34) Reducing shopping cart abandonment

(6:19) Apple's iPhone woes

(7:14) Apple: Hardware vs. Software

(8:42) What of Amazon?

(10:14) Amazon's overall dominance

(11:43) Battle in the clouds

(12:24) On Microsoft Teams

Welcome to the Vested Finance podcast!

In this session, we will be discussing Tesla's and Netflix's Q3 earnings announcements, and will cover a short segment on the most profitable companies. A number of the topics discussed in this podcast are covered in our blog posts (see links below).

Date uploaded: Wednesday, 28th October 2020
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(0:54) Tesla's strongest quarter

(2:14) Tesla in China 

(5:28) The all-important topic of the S&P 500 

(5:46) Netflix's Q3 

(6:55) Obliterating the margins target 

(9:03) The Asia Pacific gamble 

Welcome to the Vested Finance podcast!

In this session, Darwin Arifin, a co-founder at Vested Finance discusses with Jon Metzler, Lecturer of Innovation and Design @ UC-Berkeley, Haas and Founder of Blue Field Strategies on 5G.

A summary of the discussion is covered in our blog post (see link below).
Date uploaded: Wednesday, 21st October 2020
Co-hosts: Darwin Arifin & Kaihan Lin
Guest: Jon Metzler

Show Notes:
(0:49) Introducing Jon Metzler

(1:19) 5G

(1:52) Deciphering 5G

(3:03) The next evolution of wireless technology

(4:13) What will 5G bring?

(4:55) Cautionary beginnings...

(5:54) Benefits of 4G

(6:59) 4G to 5G: A transformative experience

(7:40) Spatial limitations?

(8:41) Higher value for 5G

(10:14) TAM

(12:44) The misadventures of Sprint

(16:25) Will there be a repeat of Sprint?

(17:13) T-Mobile vs. Verizon

(18:17) The time-to-market advantage

(19:04) Reliance Jio and Rakuten Mobile

(20:35) Undercutting the competition

(22:21) Overall maturity

(23:11) Painting the future...

(24:44) 5G and Real Estate

Welcome to the Vested Finance podcast!

In this session, we will be discussing the rise of alternative meats. A number of the topics discussed in this podcast are covered in our blog post (see link below).

Date uploaded: Wednesday, 14th October 2020
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(0:57) Delving into alternative meats

(2:08) The intricacies of meat production

(4:40) Different approaches of making artificial meat

(6:52) The key question of efficiency

(7:46) Still, the even bigger question of taste!

(8:33) The Impossible Burger

Welcome to the Vested Finance podcast!

In this session, we will be discussing SPACs, Microsoft and the game streaming war. A number of the topics discussed in this podcast are covered in two of our blog posts (see links below).

Date uploaded: Wednesday, 7th October 2020
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(1:00) SPACs and electric vehicles = A bubble?

(1:37) Wait, what are SPACs?

(2:27) Diverging interests...

(5:05) Acquisition of ZeniMax

(7:33) Leveraging the cloud

Welcome to the Vested Finance podcast!

In this session, we will be discussing Apple's product launch.

Date uploaded: Wednesday, 30th September 2020
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(0:53) Apple's product launch

(1:50) The need to diversify in a saturated market

(3:25) Apple's strong brand loyalty

(5:55) The Apple One

(9:06) Apple Fitness+: Apple's continued expansion into fitness tech

Welcome to the Vested Finance podcast!

In this session, we will be discussing Nvidia's $40 billion Arm acquisition and Nikola's fraud allegations. A number of the topics discussed in this podcast are covered in our blog post (see link below).

Date uploaded: Wednesday, 23rd September 2020
Co-hosts: Darwin Arifin & Tara Fermanto

Show Notes:
(1:09) Arm acquisition: How this deal makes sense for both Nvidia and SoftBank

(3.39) Arm acquisition: Different, conflicting business models

(6:07) Arm acquisition: Nvidia's regulatory hurdles

(8:27) Let's talk Nikola

(8:59) Difference between Nikola and Tesla

(10:47) The Nikola-GM partnership agreement

(12:58) Hindenburg Research and the accusation of fraud

Welcome to Vested Finance's inaugural podcast!

In this session, we will be discussing Tesla's exclusion from the S&P 500, Airbnb's rebound, Snowflake and other upcoming US IPOs. A number of the topics discussed in this podcast are covered in our blog post (see link below).

Date uploaded: Wednesday, 16th September 2020
Co-hosts: Darwin Arifin & Kaihan Lin

Show Notes:
(00:57) Tesla: The question on profitability metrics.

(04:24) Why is being added into the S&P 500 so important?

(05:02) Airbnb’s rebound and their plan to IPO.

(08:13) Isn’t patience a virtue?

(08:54) Palantir and the difference between direct-listing and traditional IPO.

(11:44) Cashflow: To fight another day.

(13:45) Snowflake’s growth: Why is this a good thing?