Competition is overrated. In practice it is quite destructive and should be avoided wherever possible. Much better than fighting for scraps in existing markets is to create and own new ones.

Moving first is a tactic, not a goal.

Superior sales and distribution by itself can create a monopoly, even with no product differentiation. The converse is not true. No matter how strong your product-even if it easily fits into already established habits and anybody who tries it likes it immediately-you must still support it with a strong distribution plan.

Under perfect competition, in the long run no company makes an economic profit.

In the '30s, the Keynesian stuff worked at least in the sense that you could print money without inflation because there was all this productivity growth happening. That's not going to work today.

I no longer believe that freedom and democracy are compatible.

The business model piece is we're always talking about competing more effectively. If you're starting a company or career you don't want to compete. You want to create a monopoly. We want to invest in a company that has a good plan to create a monopoly.