Podcast with Chase Chamberlin & Brian Doxtato of Commonwealth

This week Horacio and I sat down with Chase Chamberlin and Brian Doxtator, CMO and CEO at Commonwealth, which allows anyone to buy shares in world-class racehorses.

In the chat, we discuss:

  • How Rally inspired Brian to think about fractionalized horses
  • What each founder brings to the table (Chase = horses, Brian = business & finance)
  • How horse racing can be intimidating, and how they’ve worked hard to make everything so easy to understand
  • How they spend their day-to-day (visiting their horses, talking to lawyers, keeping up with SEC regulations)
  • Their bloodstock team, and the difficulty of selecting quality colts
  • How they drive community and make everything feel personal (they have customers from 49 states and 16 countries)
  • How they have aligned incentives by tying their business model to customer success
  • How they think about racehorse valuations (there is tons of public auction data available)
  • What goes into racehorse acquisition costs (horse itself, and 2 years worth of training costs, expenses & legal fees)
  • Unicorn returns aside, what a good return actually looks like in this industry
  • The excitement of watching their horse, Country Grammer, win a close race
  • Where Commonwealth falls on the “investing vs gambling” spectrum
  • What’s next for Commonwealth (trading, secondary markets, gamification, and education)

Best Quote:

Look, if you’re already gambling on horses, why not invest instead? Your losses are tax-deductible!
-Brian Doxtator

You can listen on Spotify or iTunes



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Stefan Von Imhof

Stefan Von Imhof

Stefan lives and breathes asset analysis and valuations. Formerly the Head of Product at Flippa – the world’s largest marketplace for buying & selling online businesses, he built Flippa's Due Diligence Program, and has bought & sold dozens of websites & newsletters. Prior to Flippa he was the first product manager at HG Insights, a market intelligence company sold to Riverwood Capital Partners in 2020. Originally from Boston and later Santa Barbara, CA, he now lives in Australia with his wife & Boston Terrier, Charlie.

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