Friday, August 22, 2014

Peter Thiel quote

From Zero to One (in this case, you can basically replace 'Monopolists' with 'Wide-Moat Businesses'):
In business, money is either an important thing or it is everything. Monopolists can afford to think about things other than making money; non-monopolists can't. In perfect competition, a business is so focused on today's margins that it can't possibly plan for a long-term future. Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits.