Modern MBA

In business theory, they suggest that the most important ingredient to success is picking the right space. You tread water, develop expertise, and even make mistakes - but once the market moves in your direction, you can snowball that momentum into billions of dollars.

Policing in America is a $100B annual business. In the 2000s, Axon was a struggling startup. Then in the 2010s, tailwinds propelled Axon, who had been building wearable cameras and software, into prosperity. Now in the 2020s, the company is a powerhouse where every single interaction with law enforcement every day is recorded with an Axon body-cam.

In this episode, we’ll cover the three eras of Axon and how this company in two decades transformed from a directionless startup into a hardware and software monopoly for law enforcement around the world.

1 day ago (edited) | [YT] | 73

Modern MBA

U.S. public transit agencies serve fewer riders than their international counterparts, yet cost more money than anywhere else, with annual operating budgets that exceed billions of dollars. But whether it’s the rampant crime and poor hygiene or just basic on-time performance and fare collection, public transit in America ranks amongst the worst in the developed world in nearly every metric.

Every year, they set a global record for how much money they lose. Adjust for currency, normalize into percentages, and the answer is the same - no one offers less, spends as much money, and still somehow loses more on public transit than America.

What many Americans fail to understand is public transit requires good governance. With the wrong leaders, broken incentives, complacency, and systematic corruption, more money just leads to more waste.

In this episode, we dive into transit systems around the world to expose the uniquely rotten economics of American public transit—where unions drain public funds, stifle innovation, and cut backroom deals with politicians to protect their own interests.

1 week ago | [YT] | 172

Modern MBA

Through the 2000s, point-and-shoot cameras were a booming category led by Japanese giants like Canon and Nikon—until smartphones. By the mid-2010s, the notion that there could be a new, standalone camera company was unthinkable - until GoPro. But as we covered a year ago, GoPro is nearing extinction. Innovation has slowed, product has stagnated, sales have plummeted, losses have soared, and shares have cratered.

Starting a camera company today is asking for punishment. You’d be crushed on one end by the trillion-dollar titans in Apple and Samsung or smooshed on the other by the old-guard of Nikon and Canon. What’s left in the middle are niches like action cameras that look too small and volatile to ever sustain a billion-dollar business.

But Insta360 has done the impossible in what many presumed to be a dead market. Today, they’re the youngest, most profitable, and fastest-growing camera maker in the world, surpassing GoPro, Nikon, and Canon. In 10 years, Insta360 has grown from a dorm room idea into a $10B powerhouse as the category leader in 360 cameras. Their cameras are sold at Apple Stores, Best Buys, and Costcos all around the world, endorsed by Internet stars like Casey Neistat, and support use-cases that extend far beyond extreme sports.

In this Modern MBA Original, we go boots on the ground to understand the rise of Insta360, how startups can topple giants, and how product can only be a moat with humility.

3 weeks ago | [YT] | 66

Modern MBA

In 2 decades, Texas barbecue has become an international icon of American tradition and craftsmanship. What used to be an affordable meal for blue-collar families has evolved into a gourmet, Michelin-starred delicacy.

Yet no one knows how many BBQ spots there are in Texas or in the South - just that there’s a lot. No one’s been crazy enough to count—until now. We scraped over 200,000 listings across 9 states and verified each one manually to produce the first, truly accurate snapshot of the American BBQ industry. With these numbers, we can truly understand just how extreme the Texas market really is.

The question remains - how do you distinguish yourself in the world’s most competitive barbecue market? In this Modern MBA Original, we drive 956 miles across Texas to understand what it takes to win in the face of saturation and the invisible gatekeepers pulling the strings on who thrives - and who must pave their own path.

1 month ago | [YT] | 121

Modern MBA

War is a battle over information as much as it is about logistics, territory, and bodies. Much has been said of the mineral deal between the United States and Ukraine. With the speed of the news cycle, it’s impossible to separate propaganda from the substance.

All the reporting is big on headlines and light on nuance. Numbers are thrown around like candy and technical names are tossed like buzzwords. Ultimately, history repeats itself, and this is not the first modern armed conflict to spiral into a struggle over natural resources.

In this Modern MBA episode, we’re diving into the economics of the United States - Ukraine minerals deal, evaluating what parts actually have value, and drawing parallels between what’s happening today to what happened decades ago in the 2001 invasion of Afghanistan, the 2003 invasion of Iraq, and the 1990 Persian Gulf War.

1 month ago | [YT] | 68

Modern MBA

Food content dominates every online platform. It’s algorithm-friendly, advertiser-safe, and universally relatable, making it one of the easiest ways to build an audience—but also one of the hardest to stand out in.

Top mukbangers have carved out millions of followers and earned thousands, feasting on fast food, everyday snacks, and local restaurants. From the outside, it looks like a cushy gig. But on the inside, it's a saturated market with fierce competition where creators must set themselves apart—even as new entrants stand ready to copy them.

In this episode, we dive into the economics and grind of mukbangs through the eyes and appetites of three content creators: a breakout star, a rising newcomer, and a scrappy growth hacker.

2 months ago | [YT] | 74

Modern MBA

Buzzfeed and VICE were the digital unicorns of the 2010s. These two companies had seemingly figured the secret sauce to go viral in this new online world. There were also smaller startups like Vox, Thrillist, Mashable, and Insider who surged off the same tailwinds. Digital media was a new type of business where all the consumption, distribution, and creation was all entirely online.

Fast forward 10 years and Buzzfeed is a penny stock. They get a fraction of the viewership and readership these days despite developing hit brands like Tasty and breakthrough shows like Hot Ones. VICE declared bankruptcy in 2023. They’ve both laid off staff and cut back - and so has Vox and Business Insider. How could so many shows and views be worth so little?

2 months ago | [YT] | 153

Modern MBA

There are few business sectors that have collapsed as dramatically as cannabis. Once projected to generate billions in new business, radical social reform, job creation, and rapid growth, the industry has devolved into a commoditized race to the bottom. From one angle, this was just a case of too much supply for too little demand. From another angle, commoditization was always inevitable.

But market correction shouldn’t mean collapse. What’s left today is just business - regulated, fragmented, ruthless, and perfectly competitive where only the smartest survive.

In this Modern MBA Original, we go from the macro-to-micro to analyze the economics of legal cannabis from the global corporations all the way to three independents in the world’s most competitive market.

2 months ago | [YT] | 177

Modern MBA

Memberships are now live! For just $1.99/month, unlock custom emojis of iconic owners featured on past episodes, earn loyalty badges, and support our team every step of the way.

Every penny goes back into the production and never to funding lifestyles or padding salaries. Your support ensures all episodes, new and old, remain free and public forever.

youtube.com/channel/UCbzVRTkX3bzNZuBd9In4XyA/join

3 months ago (edited) | [YT] | 110

Modern MBA

Smashburgers are more than just a food trend. For only a few extra dollars, more Americans are ditching Big Macs and Whoppers in favor of these fresher, smashed, local alternatives. Customer retention at McDonald’s, Burger King, and Wendy’s have plummeted and their executives are panicking.

It’s only in LA where the smashburger market is most mature, quality is highest, and competition is fiercest. With low barriers to entry, owners rush into neighborhoods to stake market share.

In this Modern MBA Original, we’re going boots-on-the-ground to understand what it takes to win from the small first-time restaurateur to the market leader who built the city’s largest independent chain— growing to 11 stores in 5 years, one patty at a time.

3 months ago | [YT] | 116