SaaS is an incredible business model, but it’s also incredibly well-covered by writers (journalists and VCs alike). While software is busy chomping down on everything, we sometimes overlook the large and often less sexy businesses in industries that don’t get the attention they deserve. As a generalist investor, my job often starts with a couple hours of ad-hoc desktop research on a single company that then evolves into an exploratory mission diving into the legacy incumbents dominating that space. I become particularly obsessed when research on an early stage company leads to the discovery of an “iceberg” or “sleeping giant” - a multi-billion dollar legacy company or category that I hadn’t previously thought much about. This is my attempt to uncover the stories of these older legends and draw parallels to today’s up-and-comers. Thanks for reading and feel free to reach me at amin@foundersfund.com!
