Lens family
176 analysesBusiness Model ✕
Kraft Heinz Makes $3.2 Billion in Cash and Reports a Wreck. Both Are True.
Kraft Heinz
Everyone Calls Mars Asset-Light. It Owns the Whole Factory Floor.
Mars
Ferrari Has No Loss Leader. The €30 Keychain Pays Like the €300,000 Car.
Ferrari
John Deere Sells You the Tractor. The Money Is in Everything That Happens After.
Deere
Charles Schwab Gives Away Trading Because the Real Money Is in Your Idle Cash
Charles Schwab
Thermo Fisher Is Not an Instruments Company. The Instruments Are the Bait.
Thermo Fisher
The New York Times Stopped Being a Newspaper. The Money Proves It.
New York Times
Vice Wasn't a Media Empire. It Was an Ad Agency Wearing a Counterculture Costume.
Vice Media
Hermès's $500 Scarf Isn't a Loss Leader. It's the Cheapest Door Into the Most Expensive Room in Luxury.
Hermes
Rolex's 'Cheap' Watch Costs $6,200 — And It Isn't There to Make Money on Its Own.
Rolex
Ryanair's €40 Ticket Isn't Sold at a Loss. The Loss-Leader Story Is the Wrong One.
Ryanair
Atari Built a Successor It Refused to Let Succeed
Atari
The F-35 Is Sold Once and Paid For Until 2088. That's the Whole Business.
Lockheed Martin
RTX Has a $268 Billion Backlog. About a Quarter of It Is Next Year's Revenue.
RTX (Raytheon)
Ryanair Cut Fares 7% on Purpose. The Cheap Seat Was Never the Product.
Ryanair
Vanguard Tells You It Doesn't Run at Cost. Believe It - The Truth Is Better.
Vanguard
Fidelity Took Fees to Zero. Vanguard Already Won the War Years Ago.
Vanguard
ServiceNow Doesn't Sell Software. It Sells a Backlog Most Companies Would Kill For.
ServiceNow
Rivian Finally Turned a Gross Profit. Read the Footnotes Before You Cheer.
Rivian
Berkshire's Best Investor Is a Pile of Other People's Money It Will One Day Have to Repay
Berkshire Hathaway
PepsiCo Is a Snack Company That Happens to Sell Soda. That's Now Its Problem.
PepsiCo
Starbucks Is Quietly Running a Bank. You Just Can't Withdraw From It.
Starbucks
Subway Built the Asset-Light Machine. The Franchisees Were the Asset.
Subway
Thermo Fisher Sells the Picks and Shovels. It's Just Not As Immune to the Gold Rush as You Think.
Thermo Fisher
Kodak Didn't Sell Cameras. It Sold the Habit of Buying Film Forever.
Kodak
Polaroid Built the Perfect Razor-and-Blades Machine. Then Digital Removed the Blade.
Polaroid
John Deere Wants to Be a SaaS Company. Right Now It's Mostly a Pitch Deck.
Deere (John Deere)
GE Capital Wasn't a Crutch. It Was a Shadow Bank Hiding Inside a Jet-Engine Company.
GE
Siemens Keeps Buying Software With Money It Earns Selling Hardware. That's the Whole Plan.
Siemens
State Farm Could Sell Itself Tomorrow. The Math Says Don't.
State Farm