Scale Economies

“The reason why they truly are among the very highest quality watches in the world is because they throw their scale economies around. They do absolutely unreasonable things to engineer and build and test these watches that other people in the industry just can…”

“People often think that they get scale economies through data. And I'd say that that's possible, but it's rare. And the reason it's rare is not because there aren't scale economies in data, but rather that the range of scale that the existing competitors have…”

“Really powerful scale economies. There are many instances of it, but in terms of being the source of power against all the types of competitors you have to consider, they're much rarer than you would think.”