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Ep 365. Finding Moats: Market Power, Customer Behavior, Substitution, Distribution, and Margin Protection

Focused Compounding

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A Lot of Influence on Regulations

Big companies have a lot of influence over how certain things are dealt with. And that'sa advantage in some ways, because anything's going to be created in a way shaped to benefit you for those issues on which you care a great deal about it and other people do not. But there won't be much political interest one way or the other about what happens so you can help to shape things. Some lhike that cecause that's the easiest way to cut off a business model from being a possibility.

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