In a business driven by increasing returns, there will always be new entrants willing to lose money on certain goods if only to monetize later or elsewhere in their business model
11 Notes on Amazon
Nicolas Colin

Not sure I understood your point. Economic of scale are also leading to increasing returns. That might be bigger in the digital economy (bigger scale + network effects + machine learning on data sets), but it’s not making competition dynamics different by essence, is it?(eg: lots of business in the 80s were willing to decrease their price, anticipating the diminution of costs due to the “experience curve” and attack some specific activities to weaken their competitor)

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