In an episode of The Zurich Project Podcast, presented by MOI Global, Artem Fokin discusses platform businesses and his fascinating path as an investor, including growing up in Siberia and viewing bananas as a symbol of capitalism. Artem argues persuasively that true platform companies not only enjoy a wide moat due to network effects but that, in fact, their value proposition to customers also improves as they grow the user base.

Artem Fokin is the founder and portfolio manager of Caro-Kann Capital LLC, a hedge fund based in San Francisco. Prior to founding Caro-Kann, he was a principal at Outrider Management LLC. Before entering the investing industry, Artem was an attorney with Greenberg Traurig LLP in New York City. Artem earned an MBA from the Stanford GSB (Arjay Miller Scholar), a Master of Laws degree from NYU School of Law (Newman Scholar) and a bachelor of law from the Higher School of Economics (Presidential Scholar) in Russia. Artem is admitted to the practice of law in the State of New York and is a dual citizen of the United States and Russia. Caro-Kann Capital LLC is the general partner of an investment partnership based on the principles of value investing that focuses primarily on special situations and compounders. Caro-Kann Capital is named after a chess defense that emphasizes building safety and defensible position before contemplating an offensive strategy. The Founder’s substantial legal experience brings a greater ability to analyze complex corporate documentation accompanying extraordinary corporate events. The Fund’s core investment principles include: (1) concentration when properly compensated, (2) risk is not equivalent to volatility, (3) non-economic selling can lead to attractive opportunities; (4) capital allocation is often underappreciated by the market, and (5) incentives and insider ownership are paramount.

Artem is a participant in The Zurich Project.

The Zurich Project Podcast is on iTunes, Soundcloud, and Stitcher.

A transcript of this conversation will be posted here at a later date.