Asurion: The Early Days (‘95-‘01) with Kevin Taweel - [50X, S2 EP.1]

Today, we are dropping a special episode in the invest like the best feat. 50 x is back, a fan favorite series from Will Thorndike and the team at Compounding Labs. Will's book, The Outsiders, is one of the best business and investing books that you'll find. You will hear him continuing his work in the hosting chair as he looks in detail at investments that have appreciated at least 50 fold. Season two features Asurion. Colossus is excited to partner with Will as he sits down with the management and investors behind this legendary investment. We kick off this special drop with a short intervie

Welcome to 50 x. I'm your host, Will Thorndike, author of The Outsiders and a cofounder at Compounding Labs. Fifty x aims to dissect the anatomy of investments that have appreciated at least fiftyfold. We dive into each investment's origins, evolution, and eventual outcome, exploring key themes around long term value creation, ranging from operations, capital allocation, and culture to pivotal purchase and sale decisions. We track the often circuitous route to exceptional long term returns and study how that rarest of investment commodities, conviction, gets created, maintained, threatened, an

episode is brought to you by SystemSix, a searcher owned, outsourced bookkeeping and accounting services firm that has been a great partner to us here at Compounding Labs. Many CEOs and business owners spend too much time trying to get accurate financials or get stuck in the weeds of running payroll, paying bills, and handling other administrative work. With modern tools and a strong team, system six eliminates this headache and allows you to spend time where it matters most, growing your business. We currently use SystemSix at several of our companies and have found them to be exceptionally h

All opinions expressed by hosts and podcast guests are solely their own opinions. Hosts and podcast guests may maintain positions in the securities discussed in this podcast. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. So

today, we're gonna do a deep dive on a company you may never have heard of. It's called Asurion, and we're delighted to be here this morning with its cofounder, currently chairman, Kevin Tawil. Asurion actually has several claims to fame measured by MOIC, multiple of invested capital, a metric we obviously care deeply about on this podcast. I believe it is both the best search fund investment ever and the best institutional private equity deal, period. The company, which was originally called Road Rescue Inc, turned 28 years old in July and for investors who held their investment for the entir

you, Will. I'm excited to be here. Excellent. Let's

dive in. So if you don't mind, let's maybe start with a little bit of your background preassurance.

So I grew up in Prince Edward Island, Canada, small province in the East Coast, maybe a 20,000 people. And I grew up working in my dad's grocery store. We had the maybe the predominant grocery store where everybody in the community came and shopped every week, and I'd be packing bags and filling shelves. And that was probably where I first got to understand this idea of entrepreneurship of working for oneself. Not that I saw it in a great light because I saw my father coming home from work at 05:00 tired. He'd have dinner with us and go back to work till 10:00 at night, and we'd work six days

position in hockey?