Every monopoly is unique, but they usually share some combination of the following characteristics: proprietary technology, network effects, economies of scale and branding. If you want to create and capture lasting value, don't build an undifferentiated commodity business. One market will probably be better than all others. Time and decision making themselves follow a power law. Some moments matter for more than others. And whill i do advocate that everyone has a deterministic view of the future? I think it's obvious once you get it. We can probly move on from that one. Ums, we talked about how venture returns are part of power laws. Well, i think it's like the scale of your