45sec snip

Acquired cover image

Charlie Munger

Acquired

NOTE

Why Walmart struggled against Costco

Costco's appeal was its horizontal layout and wide variety of products, attracting consumers with its convenience. Saul, the founder, happily shared his playbook with others, including Bernie Marcus. Despite Saul's domineering nature, he was intelligent and understood the uniqueness of Home Depot and Costco. Walmart failed to compete with Costco due to being wedded to their old ideas and resistance towards accepting new ones.

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