No. of Recommendations: 7
But, when everyone jumps in, will growth and margin evaporate, like they did with EVs?
Sure. That’s one of the basic tenets of free market-ism. When McDonald’s shows that fast food can be wildly profitable, you suddenly get Wendy’s and Burger King and Roy Rogers and Arby’s and a thousand others, which compresses margins all around until some are so skinny they go out of business.
A few with somehow lasting durable advantages (Moat is the vogue term) stick around but they are rarely as wunderkind as their former glory. The Big 3 have been late, late, late to the party so many times you wonder if they’re just completely asleep.
Actually I don’t wonder any more. I’m pretty sure of it.
