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#461 - Julien Smith - Learning From Elon Musk's Twitter Takeover
Modern Wisdom
How to Fuck Up in a Business?
The higher the margin the customer, right? The more money, like, the less costs you have per incremental customer. That's basically the difference. A restaurant is an incredibly difficult business to run. And if it's run improperly, you just die. So what happens to start up is giant amounts of capital become accessible which give you an opportunity to fuck up over and over and over again. You can become a good operator, but you just don't have the amount of the amount of discipline that you need in real industries. Being a good story teller to unlock more capital still has a bunch of head room that you're bouncing off bunch of ceiling because it's still very effortful for
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