Characteristics of a monopoly include proprietary technology, network effects, and economies of scale, which can lead to sustained market dominance over time.

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

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

The concept of 'last mover advantage' is critical; being the last to innovate can lead to winning the market.

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.

If you're starting a company, always aim for monopoly and avoid competition; competition is for losers.

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

It's essential to not only achieve a technological breakthrough but also to ensure that your innovation remains the last significant advancement for a long time.

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.