Episodes

  • How a 56-Year-Old Camera Maker Survived the Smartphone Era

    How a 56-Year-Old Camera Maker Survived the Smartphone Era
    Jun 16 2026
    When the smartphone camera killed the compact camera market, Pentax—once a giant of photography—was left for dead. In this episode, Lucas and Luna trace Pentax's improbable turnaround: how a niche camera maker with a loyal user base and a stubborn refusal to chase the mass market managed to carve out a profitable existence. They examine the company's pivot to high-end DSLRs, its embrace of weather-sealed rugged bodies, and the $100 million investment from Ricoh that gave it a second life. Specific numbers include Pentax's market share decline from 8% to 1.5%, its return to profitability in 2023, and the surprising role of vintage lens enthusiasts. Lucas draws a parallel to the current market environment—with the S&P 500 near 7,550 and the Dow above 51,600—noting that turnaround stories often thrive in bull markets when capital is available. Luna challenges whether Pentax's model can scale, and the conversation closes with a reflection on what 'survival' really means for a legacy brand. #Pentax #CameraIndustry #Turnaround #Business #Restructuring #Photography #DSLR #Ricoh #NicheMarket #Loyalty #SmartphoneDisruption #Recovery #FexingoBusiness #BusinessPodcast #TheTurnaroundPodcast #LegacyBrand #Profitability #NicheStrategy Keep every episode free: buymeacoffee.com/fexingo
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    9 mins
  • How a 60-Year-Old Video Game Publisher Survived the Free-to-Play Revolution

    How a 60-Year-Old Video Game Publisher Survived the Free-to-Play Revolution
    Jun 15 2026
    In this episode, Lucas and Luna explore the turnaround of a 60-year-old video game publisher that nearly collapsed when free-to-play mobile gaming disrupted its premium boxed-product business. They focus on the company's pivot to live-service models, the painful restructuring that cut 30% of its workforce, and how it re-emerged with a profitable subscription tier. Anchored to the current market environment of June 2026, they discuss how the S&P 500's record levels hide deep industry disruption, and connect the publisher's survival to broader lessons in adapting business models without losing your core audience. #VideoGamePublisher #Turnaround #Restructuring #FreeToPlay #LiveService #GamingIndustry #BusinessModelPivot #Subscription #Layoffs #DigitalTransformation #Business #Finance #Strategy #Resilience #LegacyCompany #FexingoBusiness #BusinessPodcast #TheTurnaroundPodcast Keep every episode free: buymeacoffee.com/fexingo
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    7 mins
  • How a 170-Year-Old News Wire Survived the Internet

    How a 170-Year-Old News Wire Survived the Internet
    Jun 15 2026
    Lucas and Luna dive into the story of Agence France-Presse (AFP), a news wire founded in 1835 that faced near-collapse in the late 1990s. They explore how a cooperative model, a pivot to multimedia, and a bet on fact-checking turned a struggling telegraph-age relic into a profitable digital-native news service. With context from today's markets—where the S&P 500 sits at 7,431 and the Iran peace deal is driving a risk-on rally—they ask what legacy institutions can learn from AFP's survival playbook. A concrete look at restructuring that isn't about cost-cutting, but about redefining your core value. #AgenceFrancePresse #AFP #NewsWire #BusinessTurnaround #Restructuring #LegacyBusiness #DigitalTransformation #FactChecking #Journalism #CooperativeModel #MediaSurvival #BusinessPodcast #FexingoBusiness #TheTurnaroundPodcast #Business #History #Innovation #Resilience Keep every episode free: buymeacoffee.com/fexingo
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    8 mins
  • How a 92-Year-Old Stationery Company Survived Digital Disruption

    How a 92-Year-Old Stationery Company Survived Digital Disruption
    Jun 14 2026
    In this episode of The Turnaround Podcast, Lucas and Luna explore how a 92-year-old stationery company, founded in 1934, survived the digital disruption that wiped out most of its industry. They dive into the company's pivot from paper-based products to digital collaboration tools, focusing on a key decision in 2019 to acquire a small productivity app startup. The conversation ties into current market trends, including the small-cap rally and strong GDP growth, showing how a legacy business can reinvent itself. Lucas shares specific numbers on the company's revenue recovery, from a 40% drop in 2020 to a return to growth by 2024. Luna questions whether the pivot diluted the brand, and they discuss the balance between tradition and innovation. The episode closes with a reflection on what other distressed businesses can learn from this turnaround. #Stationery #Turnaround #DigitalDisruption #ProductivityApps #LegacyBusiness #BusinessTurnaround #Restructuring #1994Company #RevenueRecovery #SmallCaps #GDPGrowth #BusinessStrategy #Innovation #Tradition #FexingoBusiness #BusinessPodcast #TheTurnaroundPodcast #Podcast Keep every episode free: buymeacoffee.com/fexingo
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    8 mins
  • How a 72-Year-Old Toy Company Survived the Digital Playroom

    How a 72-Year-Old Toy Company Survived the Digital Playroom
    Jun 14 2026
    In this episode, Lucas and Luna examine how a 72-year-old toy manufacturer faced near-collapse as children migrated to screens and digital play. They trace the company's journey from a 2019 bankruptcy filing to a focused turnaround that leaned into classic, screen-free toys and licensing nostalgia. Specific numbers include the company's debt load pre-bankruptcy and the revenue rebound after refocusing on core brands. The hosts also connect the story to broader retail trends, mentioning the S&P 500's current level near 7,430 and the small-cap Russell 2000's recent 3.1% weekly gain as signs of a rotating market where old-economy companies can find new footing. A brief, low-key listener-support segment is woven into the conversation. #ToyIndustry #Turnaround #Bankruptcy #NostalgiaMarketing #Licensing #Retail #Business #BusinessPodcast #FexingoBusiness #Fexingo #TurnaroundPodcast #DistressedBusinesses #Restructuring #Recovery #ScreenFreePlay #ClassicToys #ToyCompany #SmallCapRussell Keep every episode free: buymeacoffee.com/fexingo
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    6 mins
  • How a 106-Year-Old Camera Brand Survived the Smartphone Era

    How a 106-Year-Old Camera Brand Survived the Smartphone Era
    Jun 13 2026
    In this milestone 50th episode of The Turnaround Podcast, Lucas and Luna examine how Leica Camera AG, founded in 1914 in Wetzlar, Germany, defied near-certain obsolescence when smartphone photography decimated the compact camera market. By the mid-2010s, Leica's camera sales had halved, and the company faced existential questions. But instead of retreating into nostalgia, Leica made a counterintuitive bet: partnering with Huawei in 2016 to co-engineer smartphone camera optics, then doubling down on its high-end rangefinder business, and finally opening its own Leica-branded retail stores in cities like Shanghai and New York. Today, Leica is profitable again, with 2025 revenues of roughly €500 million and a growing share of revenue from licensing and luxury-branded partnerships. Lucas and Luna walk through the three strategic moves that saved the company, the risks of betting on a Chinese smartphone maker at a time of geopolitical tension, and what any legacy business can learn from a 106-year-old brand that refused to become a museum piece. Includes a brief listener-supported segment that keeps the show ad-free. #LeicaCamera #CameraIndustry #SmartphonePhotography #Turnaround #LuxuryBrand #EuropeanBusiness #HuaweiPartnership #LicensingStrategy #RetailExpansion #LegacyCompany #BusinessSurvival #Restructuring #Recovery #Business #Finance #FexingoBusiness #BusinessPodcast #TurnaroundPodcast Keep every episode free: buymeacoffee.com/fexingo
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    8 mins
  • How a 45-Year-Old Bookstore Survived Amazon and Built a Niche Empire

    How a 45-Year-Old Bookstore Survived Amazon and Built a Niche Empire
    Jun 13 2026
    In this episode of The Turnaround Podcast, Lucas and Luna explore the remarkable story of a 45-year-old independent bookstore chain that not only survived the rise of Amazon but thrived by building a fiercely loyal community. They break down the specific strategies—curated in-store events, a proprietary loyalty program, and a focus on rare and signed editions—that created a $200 million annual revenue business in an era when many predicted physical bookstores would vanish. Drawing on current market data showing the Russell 2000 up 3.1% over the past week, they discuss how smaller businesses can compete with giants by owning a distinct customer experience rather than trying to win on price or convenience. The episode also touches on the economics of niche retail, the power of local brand affinity, and why some legacy businesses are better off not trying to beat the big players at their own game. #IndependentBookstore #RetailTurnaround #NicheBusiness #AmazonCompetition #CommunityBuilding #LoyaltyPrograms #BrickAndMortar #SmallBusinessStrategy #BookstoreSurvival #CustomerExperience #RetailInnovation #LocalBusiness #Business #FexingoBusiness #BusinessPodcast #TheTurnaroundPodcast #LucasAndLuna #Restructuring Keep every episode free: buymeacoffee.com/fexingo
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    9 mins
  • How a 75-Year-Old TV Network Survived the Cord-Cutting Era

    How a 75-Year-Old TV Network Survived the Cord-Cutting Era
    Jun 12 2026
    In this episode of The Turnaround Podcast, Lucas and Luna explore how a 75-year-old broadcast television network — one of the original Big Three — survived the cord-cutting crisis that gutted the industry. Using the specific case of ABC's transition from affiliate-fee dependency to a streaming-first model, they dissect the 2019 pivot that cut $1.2 billion in retransmission revenue and the financial restructuring that followed. Along the way, they reference today's market context, including the S&P 500 at 7,424 and the impact of the SpaceX $2 trillion market debut on investor sentiment toward legacy media. The conversation drills into the network's debt restructuring, its embrace of a hybrid ad-supported streaming service, and the single decision that turned a 50 percent stock drop into a steady recovery. A candid mid-episode sidebar covers how listener support through buy me a coffee dot com slash fexingo keeps the show ad-free and independent. #TVNetwork #CordCutting #Broadcast #Struggle #Turnaround #Streaming #AffiliateRevenue #DebtRestructuring #ABC #Disney #Hulu #AdSupported #LinearTV #Retransmission #BusinessResilience #Media #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo
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    7 mins