First Principles Brief

Jan 01
TAYLOR SWIFT: THE ECONOMICS OF OVER-SERVING

TAYLOR SWIFT: THE ECONOMICS OF OVER-SERVING

"It is our job to make this look accidental, and it is our job to make this look effortless. I don't think of this as the pieces falling into place. You PUT the pieces where they are." — Taylor Swift to her dancers and co-performers,The Eras Tour (Taylor's Version) documentary That stopped me.
8 min read
Dec 07
The Hour Glass Limited (AGS.SI): Gatekeepers of Time — How a Family Retailer Built a Luxury Moat Piece by Piece

The Hour Glass Limited (AGS.SI): Gatekeepers of Time — How a Family Retailer Built a Luxury Moat Piece by Piece

A family-owned gatekeeper to the world's most exclusive timepieces across Asia-Pacific — holding authorized dealer relationships with Swiss luxury brands that most retailers can't access...
15 min read
Nov 27
Samudera Shipping Line Ltd. (S56.SI): The shipping company that wins by not losing.

Samudera Shipping Line Ltd. (S56.SI): The shipping company that wins by not losing.

The shipping company that wins by not losing. Samudera Shipping Line compounds through survival—conservative leverage, Indonesian regulatory protection, and the discipline to capture share when overleveraged peers sink.
13 min read
Nov 23
Food Empire Holdings (F03): Fortresses in a Cup-- How Food Empire Built Its Moat One Market at a Time

Food Empire Holdings (F03): Fortresses in a Cup-- How Food Empire Built Its Moat One Market at a Time

Food Empire turns everyday coffee habits into long-term compounding — earning in U.S. dollars, operating debt-free, and quietly diversifying its geopolitical risk by replicating its proven fortress-building playbook from Eastern Europe to high-growth Asia.
12 min read
Nov 23
Grab Holdings Limited (GRAB): Engineering an Economic Flywheel for Southeast Asia

Grab Holdings Limited (GRAB): Engineering an Economic Flywheel for Southeast Asia

Grab is Southeast Asia's leading "super-app," using its massive ride-hailing and delivery network to build out financial services and business solutions across the region.
8 min read