Andrew Marks: Corporate Durability Is Far Lower Today Than in 1950
Andrew Marks · Howard Marks & Andrew Marks: Something of Value · Acquired · Aug 30, 2022 · at 27:06
Venture capitalist Andrew Marks argues that accelerated technological adoption has eroded the long-term predictability and durability of business moats.
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“It was very possible for companies to be much more durable. Back then than it is today, in my opinion. I mean, if you transport yourself back to 1950 and you think about, well, how many businesses are there where I think I can say with high conviction that they'll be the same in 10 years as they are today. I think that number would probably be much, much higher than you could say today.”
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