WatchPro on Conglomerates and Indies

Armando Zuccali's Veblen 2.0 idea is full of holes. Good macro analysis, dodgy framework, and a case study that contradicts its own thesis... Classic SDC fodder.

Mar 31, 2026

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Many of you probably haven’t even finished yesterday’s SDC Weekly, so apologies for flooding your inbox with watch fodder. WatchPro published something yesterday that I initially thought better of responding to... but this morning I noticed someone shared it in our WhatsApp group and suggested it was interesting, so here we are.

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WatchPro on Conglomerates and Indies

Armando Zuccali's Veblen 2.0 idea is full of holes. Good macro analysis, dodgy framework, and a case study that contradicts its own thesis... Classic SDC fodder.

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