Barriers to Entry by Bill Fleckenstein
Very, very few businesses have barriers to entry. As wonderful and as complex as the products of these companies are, they are in industries that almost never have any barrier to entry -- especially since the general business plan is one of constant innovation, thereby obsolescing one's own products. Profitless prosperity: It's a state often found in technology, where these wonderfully innovative companies that make our lives so much more pleasant wind up unable to make any money.
Tags: technology, barriers to entry
What are your weaknesses?, Importance of Money, The Most Favored Customer Clause, What are your strengths?, Identify the Most Profitable Clients, How a Weak US Dollar Can be Good, Don't be Dumb, Emphasis on Dilutive or Anti-Dilutive Earnings is Dangerous, Strategy and Execution are Both Essential, Always be Gunning for Your Proudest Moment
