Michael Porter

“Porter was a consultant. His goal was to say, hey, dude, you run a widget company. How do you make your widget company better than the other widget company? He never answers the question, are widgets even a decent business?”

“If something doesn't lead to Lower costs, sustained lower costs over time, or the sustained ability to charge higher prices over time, and ideally both, it is not a moat.”

“Mike Porter never in his entire life has said competition is stable. He's repeatedly said the opposite”

“So Mike Porter says you have to be either differentiated or low cost. Good. And if you look through competitive strategy is landmark seminal book to say, how would you do that? There is no answer.”

“In, in the, this takeoff phase in a business when, that we talked about before, when you're trying to attain competitive position, operational excellence is everything. And so, so in, if you think of not strategy, not statically endpoints like Professor Porter…”

“He goes, a young, charismatic, putatively smart guy like you should be able to get into railroads. You'll be CEO of Burlington Northern within 15 years and watch Warren Buffett will buy it.”