This Is Who You Are Up Against Transcript

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Read voraciously, try to understand what the consensus is, find a variant perception, something that people aren’t thinking about, and generally for the wrong reason.

We were talking before about ants foraging in a forest, and there’s complete uncertainty, and they’re moving all about, but then something happens in that process where they’re able to very efficiently find food sources, and so after the fact, you can figure out how it all worked, but a priori, you have no idea.

Time, zero-sum, like it’s just always running out. You only know in hindsight if you wasted time or not.

Failure comes from a failure to imagine failure.

If you have a true moat of whatever kind, an unfair source of supply, something on a brand, the ability to get scale where a competitor can’t, a technological innovation that somebody literally can’t access and they look at that and say, “It’s not fair. I can’t make that,” that is a beautiful thing. From that, you have a moat. From moat, you have pricing power, you have monopsony, like pricing leverage with suppliers. I just, I think everything flows from competitive advantage.

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