A note from Daniel

Ch.31 summary - The Commandment of Entry states that as entry barriers fall, competition rises, and the road weakens. - Accessible roads carry more traffic. More traffic generates higher competition, and higher competition creates lower margins for the participants. - Businesses with weak entry often lack control and operate in saturated marketplaces. - Exceptionalism is required to overcome weak entry barriers. - Access to a business road should be a process with a toll, not an event. - "Everyone" consists of the general populous and is served by the mainstream media. - If everyone were wealthy, "everybody is doing it" would work. And if everyone is wealthy, then no one is wealthy. - "Everyone is doing it" is a signal to overbought conditions and the entrance of "dumb money."

Daniel The Millionaire Fastlane, page 218 · January 21, 2024 Save to shelf
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