Michael Covel's Trend Following Ep. 593: Scott Galloway Interview with Michael Covel on Trend Following Radio
Sep 29, 2017
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Unprofitable Models Risk Fast Repricing
- The current tolerance for unprofitable growth depends on cheap capital and can unwind quickly when capital tightens.
- A market shock demanding profits could topple many 'unicorn' business models.
Amazon's Growth Is Often Zero-Sum
- Amazon's retail growth has been largely zero-sum, draining top-line sales from traditional retailers.
- When Amazon adds tens of billions, competitors lose that revenue share in a stagnant retail market.
Cross-Category Encroachment Favors Amazon
- The Four increasingly overlap and compete across categories, and Amazon often wins those battles.
- Amazon's moves into voice, product search, media, and streaming show its cross-domain strength.