4min chapter

We Study Billionaires - The Investor’s Podcast Network cover image

RWH009: How to Build Enduring Wealth w/ Guy Spier (Part 1)

We Study Billionaires - The Investor’s Podcast Network

CHAPTER

MacDonald's Is a Franchise

In the vast majority of retail businesses, they are not economic high ground. My equivalent in the real estate analogies, that would be on the edge of town. If you own the railway network, by contrast, there are the vast multiplicity of industries that want to access your network. As the price of real estate goes up, as the price of petrol goes up, your relative advantage in that rail network increases. And so you're far more likely to see your way through difficult times in the railway network rather than abercromby and fitch.

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