By John Gruber
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Jaw dropping graphs, and this insightful conclusion:
To earn profit is hard, to do so in an outsized way is very hard and to do so with consistency shows a defensibility of market access that is rarest of all. The only cases where this typical is in a monopoly or protected market situation (aka cronyism.) Apple’s lack of market monopoly coupled with a (near-) monopoly in profits can only be explained by disproportionate value creation.
The mystery then is how is it possible to build a monopoly in value creation.
★ Tuesday, 18 March 2014