We've seen as big a rush of IPOs as there has been in some time. CrowdStrike appears to be one of the more impressive ones, though it's also fully valued. The company claims to have a better model for cybersecurity, involving more of an end-to-end service that is adapted to the cloud.
We try to understand whether the company's moat is knowable for a non-tech expert, and how we might inform ourselves of that as general investors. We also compare it to peers like CarbonBlack and Symantec, and to the other hot IPOs like BeyondMeat.
Topics Covered:
5:00 minute mark - What is CrowdStrike's moat and business model? 10:00 - Analogizing CrowdStrike's security approach to soccer tactics 13:30 - Soft quantitative data as an analytical tool, and its limits 21:00 - Breaking down the growth story, and does it ever get to profitability? 30:00 - Resetting the context, and is the market valuing CrowdStrike or just pricing it? 36:00 - The air in the S-1 40:00 - Maybe the competition isn't that good 43:00 - Looking through the IPO window.