Today we are breaking down InterDigital, a really interesting business that sits completely under the radar for most investors.InterDigital has the foundational patented technology that makes mobile phone communication and device-to-device communication possible. Everything revolving around 2G, 3G, 4G, 5G, the Internet of Things, and all of these devices in the world that communicate with one another is underpinned by InterDigital technology.My guest is Jenny Wallace, co-founder and CIO of Summit Street Capital Management. We discuss InterDigital's five decades of history, what it takes to maintain its patent portfolio of 30,000 patents, and much more. Please enjoy this Breakdown on InterDigital. 

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Show Notes(00:00:00) Introduction to Business Breakdowns(00:04:40) The History and Evolution of InterDigital(00:05:49) InterDigital's Impact on Wireless Communication(00:10:12) Exploring the Patent Portfolio and Business Model(00:16:13) Technology as the DNA of the Company(00:20:45) An Evolving Business Model and Maintaining 30,000 Patents(00:25:00) InterDigital's Legal Battles and Financial Health(00:31:12) Volatility in InterDigital’s Revenue Stream (00:37:21) R&D Spend as a Key Focus(00:41:13) The Future of InterDigital: Opportunities and Challenges(00:48:57) Investment Perspectives and Valuation Insights(00:53:46) Lessons Learned From InterDigital