Will Thorndyke

Today, we're dropping a special episode in the Invest Like the Best feed.

50X is back, a fan favorite series from Will Thorndyke and the team at Compounding Labs.

Will's book, The Outsiders, is one of the best business and investing books that you'll ever read.

You'll hear him continuing his work in the hosting chair as he looks in detail at investments that have appreciated at least 50-fold.

Season two features Asurion.

Colossus is excited to partner with Will as he sits down with the management and investors behind this legendary investment.

We kick off this special drop with a short interview that I did with Will on everything he learned studying this business, followed by the full three-part series.

Make sure to subscribe to 50X in your preferred podcast player and look out for Will's upcoming interviews on Joizo Compounding, where he goes into even more behind-the-scenes detail.

So Will, I thought ahead of your release of 50X on Asurion, which is an investment that is one of the most remarkable in history that people will love the story when they hear about it, that we should record to hear you reflect on it a little bit.

You've been a big part of this investment journey too, even though you're the Virgil in the 50X context.

You two have been a key investor in the business over the long period of time.

Maybe you could just give us your overview of your personal experience with this company and with this investment.

Asurion was an extremely early investment for me.

It's impossible to be totally precise about it because it's not a publicly traded business, but rough justice, what kind of a multiple of money did the investment represent from the beginning through to today?

It's not precise.

I'm going to frame that.

Yeah.

Yeah, pretty incredible.

If you think about that kind of multiple of money, I think most people intuit that that's only available as like a seed investor in Uber or something like that.

It's a very venture-like power law outcome from a business that you said you bought for five times EBITDA, five times free cashflow, really.