Griffin: Every business's future is worse than its present due to competition
Tren Griffin · a16z Podcast | The Best Way To Be Smart ... Is To Not Be Stupid · Jan 2, 2019 · at 19:50
Tren Griffin, author of Charlie Munger: The Complete Investor, quotes Charlie Munger to explain why competitive moats inevitably degrade over time.
0:00 / 0:08exact quote · 8.2s
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“All moats are constantly under attack. You can't see it, but they're constantly under attack. And what Munger says is, Is the future of every business is worse than the present.”
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