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← Selling an undifferentiated product while expecting returns above the cost of capital is unrealistic.
17 connected korrents · 17 moments from 25 Jul 2022 to 27 Sept 2026.
Everything filed under market efficiency
market efficiency
Everything filed under innovation
innovation
Everything filed under economists
economists
Everything filed under value investing
value investing
Everything filed under Apple
Apple
Everything filed under SaaS
SaaS
Everything filed under startups
startups
Everything filed under government
government Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Read this korrent: Selling an undifferentiated product while expecting returns above the cost of capital is unrealistic. Selling an undifferentiated product while expecting returns above the cost of capital is unrealistic. Last stated 2 years ago
1 Oct 2024
TG
Tren Griffin — holds since 2024-10-01 — tap for who they are
Same subject: Competition that removes differentiation makes everyone worse off, because it assumes people already know what they want. — tap to centre the map on it Competition that removes differentiation makes everyone worse off, because it assumes people already know what they want. Last stated 10 months ago
9 Dec 2025
RS
Rory Sutherland — holds since 2025-12-09 — tap for who they are
Same subject: A company priced in the trillions is not thereby overpriced; the test is what revenues and margins that price actually requires. — tap to centre the map on it A company priced in the trillions is not thereby overpriced; the test is what revenues and margins that price actually requires. Last stated 10 months ago
3 Dec 2025
AD
Aswath Damodaran — holds since 2025-12-03 — tap for who they are
Same subject: Pursuing more profitability is not always the right business decision. — tap to centre the map on it Pursuing more profitability is not always the right business decision. Last stated 2 weeks ago
21 Sept 2026
HD
Horace Dediu — holds since 2026-09-21 — tap for who they are
Same subject: Selling a saving caps what you can charge; selling more of what the buyer already values raises that cap by an order of magnitude. — tap to centre the map on it Selling a saving caps what you can charge; selling more of what the buyer already values raises that cap by an order of magnitude. Last stated 8 months ago
25 Jan 2026
JC
Jason Cohen — holds since 2026-01-25 — tap for who they are
Same subject: Making a commodity cheaply is a harder startup problem than making something valuable, because the product cannot carry a premium. — tap to centre the map on it Making a commodity cheaply is a harder startup problem than making something valuable, because the product cannot carry a premium. Last stated 2 years ago
6 Mar 2025
AV
Austin Vernon — holds since 2025-03-06 — tap for who they are
Same subject: Marketing returns are fat-tailed, so paying for marketing by the hour misprices work whose value comes from a small fraction of it. — tap to centre the map on it Marketing returns are fat-tailed, so paying for marketing by the hour misprices work whose value comes from a small fraction of it. Last stated 10 months ago
9 Dec 2025
RS
Rory Sutherland — holds since 2025-12-09 — tap for who they are
Same subject: Incumbents are unseated by a fundamentally different product, never by better features or better marketing. — tap to centre the map on it Incumbents are unseated by a fundamentally different product, never by better features or better marketing. Last stated 4 months ago
7 Jun 2026
TF
Tony Fadell — holds since 2026-06-07 — tap for who they are
Same subject: A business can have market fit, real advantages, and sustained effort behind a hard product and still fail if it doesn't give customers a strong enough reason to switch from what they already use. — tap to centre the map on it A business can have market fit, real advantages, and sustained effort behind a hard product and still fail if it doesn't give customers a strong enough reason to switch from what they already use. Last stated 4 months ago
2 Jun 2026
JJ
Justin Jackson — holds since 2026-06-02 — tap for who they are
Same subject: A company that deviates from open standards in its data exports without documenting the deviation creates an artificial vendor lock-in. — tap to centre the map on it A company that deviates from open standards in its data exports without documenting the deviation creates an artificial vendor lock-in. Last stated 2 years ago
3 Mar 2025
TS
Tobias Sjösten — holds since 2025-03-03 — tap for who they are
Same subject: A dominant company's lead in market share compounds over time and becomes harder for competitors to close, especially in technology. — tap to centre the map on it A dominant company's lead in market share compounds over time and becomes harder for competitors to close, especially in technology. Last stated a week ago
22 Sept 2026
BR
Barry Ritholtz — holds since 2026-09-22 — tap for who they are
Same subject: A sophisticated economy cannot be centrally planned, because planning removes the price signal that carries information about demand. — tap to centre the map on it A sophisticated economy cannot be centrally planned, because planning removes the price signal that carries information about demand. Last stated a year ago
2 Sept 2025
BE
Benedict Evans — holds since 2025-09-02 — tap for who they are
Same subject: Corner allocations under price ceilings are a distinct source of cross-market misallocation, separate from Harberger quantity loss and within-market misallocation. — tap to centre the map on it Corner allocations under price ceilings are a distinct source of cross-market misallocation, separate from Harberger quantity loss and within-market misallocation. Last stated 8 months ago
12 Feb 2026
AT
Alex Tabarrok — holds since 2026-02-12 — tap for who they are
Same subject: Misallocation, not the aggregate quantity reduction, is the main welfare cost of price controls. — tap to centre the map on it Misallocation, not the aggregate quantity reduction, is the main welfare cost of price controls. Last stated 8 months ago
12 Feb 2026
AT
Alex Tabarrok — holds since 2026-02-12 — tap for who they are
Same subject: Draconian price controls are among the most ruinous economic policies a government can impose. — tap to centre the map on it Draconian price controls are among the most ruinous economic policies a government can impose. Last stated 2 weeks ago
18 Sept 2026
SS
Scott Sumner — holds since 2026-09-18 — tap for who they are
Same subject: Samuelson's random-walk analogy for stock prices was mathematical showing-off dressed up as a claim about the real world. — tap to centre the map on it Samuelson's random-walk analogy for stock prices was mathematical showing-off dressed up as a claim about the real world. Last stated 3 years ago
30 May 2023
AG
Andrew Gelman — holds since 2023-05-27 — tap for who they are
AG
Andrew Gelman — no longer holds since 2023-05-30 — tap for who they are
Same subject: Stock prices are an unreliable indicator of the economy because they often reflect fads and fantasies. — tap to centre the map on it Stock prices are an unreliable indicator of the economy because they often reflect fads and fantasies. Last stated 5 days ago
27 Sept 2026
PK
Paul Krugman — holds since 2026-09-27 — tap for who they are
Same subject: Stocks sustained by persistent online attention can stay overpriced for long periods, so overvaluation alone does not imply a near-term correction. — tap to centre the map on it Stocks sustained by persistent online attention can stay overpriced for long periods, so overvaluation alone does not imply a near-term correction. Last stated 4 years ago
25 Jul 2022
NS
Noah Smith — holds since 2022-07-25 — tap for who they are
At the centre
Selling an undifferentiated product while expecting returns above the cost of capital is unrealistic.
Holds Read this korrent →
Competition that removes differentiation makes everyone worse off, because it assumes people already know what they want.
Holds
A company priced in the trillions is not thereby overpriced; the test is what revenues and margins that price actually requires.
Holds
Pursuing more profitability is not always the right business decision.
Holds
Selling a saving caps what you can charge; selling more of what the buyer already values raises that cap by an order of magnitude.
Holds
Making a commodity cheaply is a harder startup problem than making something valuable, because the product cannot carry a premium.
Holds
Marketing returns are fat-tailed, so paying for marketing by the hour misprices work whose value comes from a small fraction of it.
Holds
Incumbents are unseated by a fundamentally different product, never by better features or better marketing.
Holds
A business can have market fit, real advantages, and sustained effort behind a hard product and still fail if it doesn't give customers a strong enough reason to switch from what they already use.
Holds
A company that deviates from open standards in its data exports without documenting the deviation creates an artificial vendor lock-in.
Holds
A dominant company's lead in market share compounds over time and becomes harder for competitors to close, especially in technology.
Holds
A sophisticated economy cannot be centrally planned, because planning removes the price signal that carries information about demand.
Holds
Corner allocations under price ceilings are a distinct source of cross-market misallocation, separate from Harberger quantity loss and within-market misallocation.
Holds
Misallocation, not the aggregate quantity reduction, is the main welfare cost of price controls.
Holds
Draconian price controls are among the most ruinous economic policies a government can impose.
Holds
Samuelson's random-walk analogy for stock prices was mathematical showing-off dressed up as a claim about the real world.
No longer holds
Stock prices are an unreliable indicator of the economy because they often reflect fads and fantasies.
Holds
Stocks sustained by persistent online attention can stay overpriced for long periods, so overvaluation alone does not imply a near-term correction.
Holds