moats

cover image

The third-generation CEO has transformed the insurance broker’s valuation, but says its size has not given it pricing power.

cover image

I’ve learned early in life that game selection is a HUGE determinant of success. Let me tell you about the worst game I’ve fought & the easiest bet I’ve ever won. Both taught me about choosing unfair fights and playing by your own rules… Let’s start with the entertaining worst game. In high school I played football. I was an offensive/defensive lineman. I was half way decent enough to play in the Ernie Davis All-Star game my senior year.

cover image

Hey everyone! I’ve mostly started sharing my favorite memos and transcripts over at A Letter a Day, but as it’s more of a tasting menu, I’m reticent to post multiple memos or tran…

cover image

Chinese chip designer Loongson, which has tried to reduce the country’s reliance on Intel and AMD, is developing its own general-purpose GPU despite being added to a US trade blacklist.

cover image

The secrets of Zoom, Amazon, and Apple products.

cover image

The power of primitives

cover image

This is a book summary of The Art of Profitability by Adrian Slywotzky. Read The Art of Profitability summary to review key ideas and lessons from the book.

cover image

At the core of Europe's strongest economy is the Mittelstand, a tier of impeccably run small manufacturers that measure growth not in years but in centuries. Here's how they do it, in five very German lessons.

cover image

The disruption caused by the Internet in industry after industry has a common theoretical basis described by Aggregation Theory.

cover image

A Guide to Reddit, Its Key Competitive Advantages, and How to Unbundle It

cover image

A few factors I’ve seen pull winners off the podium…

cover image

Harvey Weinstein was a gate-keeper — a position that existed in multiple industries, including the media. That entire structure, though, is untenable on the Internet, and that’s a good thing.…