Having a monopoly means that as your company grows, it becomes increasingly difficult for competitors to defeat you, often due to network effects.

The critical aspect of a monopoly is not just achieving it but maintaining it over time; being the last mover in a category is often more valuable than being the first.

Companies that have a network effect or data lock-in create a natural moat, making it difficult for competitors to replicate their success.

I think the goal of every successful business should be to achieve a monopoly, as this is crucial for long-term success.

Market dominance can be achieved through three strategies: best price, best product, or best overall solution, with the latter being accessible to any company willing to prioritize customer intimacy.

Elon Musk's success with Tesla and SpaceX is attributed to their complex, vertically integrated monopoly structures.

In the last 250 years, only a few categories of businesses have successfully created new things and made money, often due to their monopolistic structures.

Massive monopolies, like Bell Labs or Google, have the resources to fund long-term research projects that can lead to significant innovations.

A defensible business model is essential for long-term success, and real moats, such as network effects, are more valuable than perceived ones.