The banks were making so much money that they could afford to give bad service, charge a lot, and treat customers poorly. And the reason they could do that is because there was an oligopoly of five banks that had 80% market share, and they had been there for decades with basically no new entrants.
You might also like
He then spent five years leading La Mer, Capri said, 'where he more than doubled the brand's size, expanded and diversified its product portfolio and strengthened its position as a global leader in luxury skincare.'
Polina Pompliano
the company expects to end the year at about $400 million in GAAP revenue, up 150% – without commensurate spend (head count growth of just 30%).
Alex Konrad
A miracle technology arrives. Early suppliers earn real profits because supply is short. Demand looks bottomless, which is obvious to everyone in the early numbers. The demand and profits pull in capital and competitors. Everyone builds at once, even those who see the glut coming, locking in commitments at scarcity prices just to get capacity online. Supply arrives, the technology gets better, and prices collapse. Capital loses, consumers win, and the technology chugs on.
Packy McCormick