Costco (Audio)
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- Опубликовано: 20 авг 2023
- Costco is not only Charlie Munger’s favorite company of all time (plus he’s on the board, natch), it’s an absolutely fascinating study in how seemingly opposite characteristics can combine to create incredible company value. For instance: Costco has the cheapest prices of any major retailer in America - and also the wealthiest customer base. They pay their hourly workers 30% above the industry norm (and give them excellent healthcare + 401k benefits) - and are almost 3x more profitable on labor than Walmart. Speaking of Walmart, Costco stocks 40x fewer SKUs than their Bentonville-based rivals - yet sells an average of 15x more volume of each. And oh yeah, practically all of Costco’s C-Suite started their careers as baggers and checkout clerks! Tune in for a mind-bending exploration of one of the world’s most iconic - and iconically unique - companies.
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Links:
The Science of Hitting
thescienceofhitting.com
Warren Buffett’s Costco joke
• Warren Buffett Jokes A...
Episode sources
docs.google.com/document/d/1t...
Carve Outs:
Tifosi sunglasses
tifosioptics.com
Dwells “take off everything”
• take off everything (k...
Jeremy Giffon on Invest Like the Best
www.joincolossus.com/episodes...
Dogpatch
en.wikipedia.org/wiki/Dogpatc...
David Lidsky’s great piece on Acquired in Fast Company
www.fastcompany.com/90927453/...
Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions. 
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Your podcast is great! Wish you guys could add chapters in your videos so I (and I think many others) could go back and quickly look up the information.
This
Thank you both for this opportunity and free knowledge ❤❤❤❤
I almost forgot about Fedco. My mom worked at the one in Pasadena. It was so cool to go there as a child.
Feedback for future uploads, could you add chapters to the video? I lost my place as i came back to the video and as there isn't any video its hard to find the spot was at.
"as more people become affluent" is a nice way of putting it when their competitors have to protect ever more of their offerings behind glass.
I thought this was the soundtrack for Costco stores and I’m thoroughly disappointed but cool podcast
Honestly we're a little disappointed too.
LOL same!
Your “bookshelf” convinced me to try Blinkist. I always assumed they didn’t have that great of books, because who would give up the licenses, but they must if you all find value in some of their books. David Senra should get the same deal with them if he doesn’t.
You didn’t mention cheap coffins 😂
*takes notes* 🤫
Do I have to buy a 6 pack?
They got everything from diapers to coffins lmaooo
Why no video?
Kirkland Blanco Tequila is the best Blanco Tequila I have ever had, at any price. I don’t know who makes it for them, but for some reason Kirkland’s tastes better.
Thanks
Been a long term investor of Costco (never shoped from them since I am from Cyprus) and I thought a new costco well, but I learned a lot from this audio
Did it make you more concerned or content with your investment?
What is your research process? Because this is some quality work!
Do you guys only talk about current companies it would be cool if you could cover sears. Or find what the linkage of sears is the way you drew a line from fed mart to Costco.
Great job guys! I learned so much about this industry just by listening to this episode.
been waiting for this one
You two are great for business nerds like me by the way, just found you in recent months, top tier quality content 🤓🏦📈 thanks 🙏
My favorite podcast from you - 3h of interesting talk and much to learn 🙂
great job guys!
I'd say the membership is more sunk cost, rather than endowment effect.
How were both Costco and Amazon started in Seattle?
Is there a full video version??
Presumably. The video short is what got me here. Patreon maybe? Haven't finished yet so I haven't heard any plugs.
Awesome podcast! Love it:)
Great job
Awesome content.👍🙏
Can they expand internationally? I thought part of the deal to split with pricesmart is that they stay in the US, pricesmart international
Truly the best episode of Acquired I listened to. Changed my perspective on Costco.
Incredible. Commenting for the algorithm.
I absolutely know Costco is going to sell me a great product. I consider them curators. So, I definitely don't need selection from them. Do the work of separating the wheat from the chaff for me. Be my concierge, Costco. The only miss are the batteries. Kirkland batteries are terrible. But I'm okay with being burned once in 20 years.
what do you think of Aldi,I feel that ALDI is a strong competitor to costco.
So costco chicken episode WEN?
Awesome podcast guys! Credit where it's deserved, but honest critical feedback @2:12:07, very few people consider Nike prices (especially their shoes) to be low-priced and very seldom do they score points on build quality when compared to competitors - vs Asics in the general footwear category or Saucony in the niche running footwear category. Nike started off with Phil Knight's struggle with Asics and then getting top athletes to wear his shoes - Nike's DNA is just not inline with Costco's story.
Yup, with nike half your money goes to the swoosh.
You just replaced Radio Lab in my playlists.
Have someone from Costco be a board member of Open Ai
Is the video version of this podcast posted anywhere?
Not this one! We typically only do video when we record in-person with a guest. Otherwise, it just looks like a recording of a Zoom call :)
Then why do the shorts have video
Can you do adidas
Business thrives based on a demographic filter, ironic considering the politics of ithe founder, but so often the case.
wtf is this?
That opening is how I felt about Nvdia in 2018, and still the apple of my eye and golden goose 🪿