No. of Recommendations: 19
“There were two thousand automobile companies: probably the most important invention of the first half of the 20th century. It had a huge impact on people. If you had seen at the time of the first cars how this country would develop in relation to cars, you would have said: 'This is the place to be!' But of the two thousand companies, from just a few years ago, only three automobile companies survived. And at one time or another, all three were selling for less than their book value.”
—WEB,1999. He makes the same case for airlines. Recognizing the importance of a developing industry is easy, finding the winners is much harder.
