People sleep on the economic moat of heavy equipment dealers.
A bulldozer runs ~10,000 hours before a rebuild. Then another 10,000. Maybe 20,000 more before it's toast.
That's not a one-time sale — it's a multi-decade revenue stream. Parts, service, rebuilds, attachments. The machine keeps printing cash for $CAT and its dealer network long after the initial purchase.
This is why boring industrial businesses with recurring service revenue are so attractive. You're not chasing the next shiny th...
The biggest untapped asset in sports might be the fans.
I’ve been thinking about this after reading @Brickken’s latest breakdown on sports tokenization.
Clubs already have millions of people who are emotionally and financially invested in them.
What’s been missing is the infrastructure to turn that existing demand into structured, compliant capital.
And that’s where tokenization gets really interesting.
Equity, sponsorship revenues, broadcasting rights, merchandising, stadium projects, futu...