#606 Why Costco Is One of the Best Businesses in the World

The Pomp Podcast

Anthony Pompliano

Business, Investing

4.8 • 1.9K Ratings

🗓️ 14 July 2021

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

Alex Morris is the man behind The Science of Hitting, a new equity research offering. Alex has an MBA and CFA, but really cut his teeth by publishing his equity research publicly for everyone to scrutinize. You can subscribe to his equity research here: https://thescienceofhitting.substack.com/ In this conversation, we discuss the Costco story, membership model, scale efficiency, customer renewal rates, revenue per warehouse, international expansion, Amazon Prime, and the infamous hot dog story. ======================= Circle is a global financial technology firm that enables businesses of all sizes to harness the power of stablecoins and public blockchains for payments, commerce and financial applications worldwide. Circle is also a principal developer of USD Coin (USDC), the fastest growing, fully reserved and regulated dollar stablecoin in the world. The free Circle Account and suite of platform API services bridge the gap between traditional payments and crypto for trading, DeFi, and NFT marketplaces. Create seamless, user-friendly, mainstream customer experiences with crypto-native infrastructure under the hood with Circle. Learn more at circle.com ======================= Exodus is an absolute game changer in the crypto wallet space, and we’ve teamed up to offer an exclusive discount for you, as listeners of the podcast. Sign up for Exodus today using my promo code Exodus.com/pomp. This is a no brainer for both newcomers and crypto heavyweights - go sign up today. ======================= Public Rec is on a mission to make comfort look good. Their fan-favorite Flex Short is the ultimate crossover short you’ll need all summer long. From the beach to the gym, this quick-drying short has you covered. Comfort starts with a better fit. Free shipping. Free returns. Visit www.publicrec.com/pomp and use POMP at checkout for 10% off!

Transcript

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0:00.0	What's up, everyone? This is Anthony Pompliano. Most of you know me as Pomp. You're listening to the Pomp
0:07.4	podcast, simply the best podcast out there. Now let's kick this thing off. Alex Morris is the man
0:13.3	behind the science of hitting, a new equity research offering. Alex has an MBA and a CFA, but really
0:19.4	cut his teeth by publishing his equity research publicly
0:21.5	for everyone to scrutinize. You can subscribe to his equity research in the link in the description.
0:27.6	In this conversation, we discussed the Costco story, the membership model, scale efficiencies,
0:33.3	customer renewal rates, revenue per warehouse, international expansion, Amazon Prime, and the
0:38.7	infamous hot dog story. I'm fascinated with Costco as a business, and Alex did a great job
0:44.5	breaking it down. I hope that you enjoy this episode. Before we get into this episode, though,
0:48.9	I want to quickly talk about our sponsors. First up are my friends over at Circle. Circle is a global financial technology
0:55.7	firm that enables businesses of all sizes to harness the power of stablecoins and public
1:00.2	blockchains for payments, commerce, and financial applications worldwide. Circle is also a principal
1:05.6	developer of USD Coin, USDC, which is the fastest growing, regulated, fully reserved dollar stable coin in the
1:12.6	world.
1:13.3	Now standing at more than $15 billion market cap and adding nearly $300 million of net new
1:19.0	digital dollars in circulation every single week.
1:21.7	The free circle account and suite of platform API services bridges the gap between
1:26.3	traditional payments,
1:30.3	crypto for trading defy and NFT marketplaces.
1:33.0	I've had Jeremy, the CEO on the podcast before,
1:35.7	and I'm really impressed with the product that Circle's built and how quickly they're scaling it.
1:37.8	You can learn more at Circle.com.
	...

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