Business Breakdowns

Business Breakdowns, hosted by Matt Reustle and Zack Fuss through the Colossus media network, takes a single company each week and pulls it apart piece by piece. The format is consistent: one business per episode, examined from its founding story through its current financial structure, competitive moat, and growth trajectory. The guest is typically an analyst or portfolio manager who has spent serious time studying that specific company. The range of businesses covered is impressive. Recent episodes have dissected Cloudflare's infrastructure model, Mercado Libre's dominance in Latin American e-commerce, GE Aerospace after the company split, Games Workshop's remarkably profitable miniatures business, and Doximity's hold on physician networking. Each episode runs about 45 to 60 minutes and goes well beyond what you would find in a typical earnings recap. You hear about unit economics, capital allocation decisions, and the specific risks that could undermine the business. With 251 episodes and a 4.8-star rating from over 340 reviews, the show has earned a reputation as one of the best deep-dive business analysis podcasts available. Listeners who buy individual stocks find it especially valuable because each episode essentially functions as a condensed equity research report presented in conversation form. The guests bring genuine expertise rather than surface-level takes. Business Breakdowns is a natural complement to Invest Like the Best (also from Colossus) — where that show focuses on investors and their frameworks, this one focuses on the businesses themselves. If you are building a stock portfolio and want to understand how specific companies actually make money and defend their position, this show is a direct resource.