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Michael Kitces – The Past, Present & Future of Financial Advice - [Invest Like the Best, EP.122]
Invest Like the Best with Patrick O'Shaughnessy
Is the World Not Changed Dramatically?
The old value proposition tends to get efficiencyed up with technology, pricing tends to continue to decline. Lower price plus volume means largest firms with economies o scale tend to do well. You'll see models that cross subsidize an increasingly commoditize service and take it down to zero. And you're going to see that play out in a couple of ways that are actually starting already. So how does that then transfer into, i guess, the beginning of stage four, and pricing, and pricing power based on relative scarcity?
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