Adam Lindsay takes a TRIP through the LTRPA bull thesis
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Adam Lindsay, founder and managing partner of Powell Anderson Capital Partners, discusses his bull thesis for Tripadvior (TRIP) and Liberty Tripadvisor (LTRPA). The bull thesis is nuanced, but much of it centers on TRIP's nascent Tripadvisor Plus business, which Adam thinks TRIP is uniquely suited to successfully launch and could drastically change their financials.
Adam's email: adam@pacp.com
Chapters
0:00 Intro
1:30 TRIP Overview
6:30 Why is Tripadvisor Plus not Instant Booking 2.0?
13:00 How Plus could be a win/win/win
22:30 Why can't OTA competitors copy Plus if it works?
25:25 TRIP's crown jewel: experiences
33:00 Evaluating TRIP's management
38:00 Strained analogy comparing Twitter to TRIP
40:30 TRIP valuation
43:45 TRIP's cost structure going forward
50:05 Comparing Liberty Tripadvisor to Tripadvisor
55:00 Do TRIP and LTRPA get a "Maffei discount"?