Pitch The PM
Pitch The PM
Podcast Description
In these regularly scheduled podcast episodes, experience the leading edge of deep equity research, analysis, and strategy. Discover actionable strategies and practical applications, such as integrating AI into the investment process.
Pitch the PM is hosted by Doug Garber, a former Citadel Analyst and Millennium Portfolio Manager. Doug ranked as a top 5 analyst and alpha generator twice while at Citadel. He then built and led a multi-sector, multi-strategy team at Millennium.
Podcast Insights
Content Themes
The podcast focuses on advanced investment strategies, deep equity research, and thorough analysis. Episodes cover specific investment opportunities and reverse engineer successful investment theses, such as examining Pool Corp's business model and revenue prospects post-COVID, and evaluating Zoom's transition from a single-product company to an enterprise platform as growth catalysts.
Pitch The PM is the professional investor’s podcast where host Doug Garber dives deep into high-conviction stock ideas using his Variant View Investment Checklist.
It’s a real-time look at the research process, blending lessons from Buffett, Munger, and Lynch with modern AI tools. Join Doug, ex-Citadel top analyst and Millennium Sr PM, as he works through his Buffett-inspired 20-slot punch card. Learn, laugh, and sharpen your edge.
Welcome to Pitch The PM, where host Doug Garber is joined by Aaron Ginn, CEO and Co-founder at Hydra Host.
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In this episode, Doug Garber and Aaron Ginn to unpack the forces reshaping the global AI infrastructure stack. They dive deep into Nvidia’s growing dominance and explore how CEO Jensen Huang is building an ecosystem designed to sideline the hyperscalers, financing their destruction while capturing more of the value chain.
Aaron breaks down the shift from public cloud to bare metal, the margin squeeze facing Amazon, Microsoft, and Google, and why GPU infrastructure, not models or software, is now the real bottleneck. The episode also explores the emerging spot market for compute, the evolving ROI math for data centers, and why neoclouds are gaining ground as hyperscaler credibility erodes.
From regionalization and reshoring to export controls and geopolitical leverage, this conversation goes beyond semis and into the future of economic power in the AI era.
See below for episode disclosures.
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Aaron Ginn is the Co-Founder and CEO of Hydra Host, a fast-growing infrastructure company building the largest GPU management platform in the world. Hydra provides a fully automated, API-driven system for monetizing GPU and CPU infrastructure, streamlining bare metal deployment at scale. Before founding Hydra, Aaron co-founded the Lincoln Network (now Foundation for American Innovation) and Fabius Labs, with a focus on bridging technology, policy, and product design. He has over a decade of experience in tech, spanning product, engineering, and digital growth. His work has been featured in outlets including The Wall Street Journal, TechCrunch, and Wired.
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Chapters:
[00:00] – Intro & Hydrahost’s Origin Story
[03:07] – The Evolution of Data Centers & AI Infrastructure.
[08:49] – Nvidia’s Role & Shifting Market Power
[14:47] – The Decline of Traditional Cloud
[20:54] – The Competitive Landscape. Google, Amazon, and the bundling tactics shaping GPU access.
[24:01] – Geopolitics & Digital Infrastructure
[37:34] – ROI & GPU Utilization Strategies
[43:36] – Market Liquidity & Pricing Dynamics
[53:23] – Capital Models & Financial Engineering GPU resale, and payback strategies.
[58:01]- China’s Huawei push, Nvidia’s ecosystem defense, and infrastructure land grabs.
▶️ MORE VARIANT VIEW EPISODES:
NVDA: As Good As It Gets: https://youtu.be/x8gJ8ElyUlM?si=pRlRnhrH6Hknp9zU
TUSK: Cigar Butt Morphing into a Compounder: https://www.youtube.com/watch?v=l0mF5WK91oc&t=396s
Follow Pitch The PM:
LinkedIn: www.linkedin.com/in/doug-garber-42aa508
Spotify: https://open.spotify.com/show/4UHbkYE2OJwfhY2MZqGG5
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⚠️ Not Investment Advice. For Educational Purposes. See disclaimers at PitchThePM.com
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