Hamilton Helmer: prediction

Transcript context

…You're failing if you don't exploit it. Right because you can assume that eventually somebody else will, and that may completely ruin your competitive position, for example, if the space doesn't scale. Point one, go to business definition, think very hard about where your power umbrella is. Point two, if that does extend into an area you're considering going there because it's really traffic. And then the third one is that if you don't have anything there and you still want to do something new, coaction is the name of the game, but understand that you're now into the invention of the new business and with all the things around it, risk, adaptation, everything, and entrepreneurs matter. Chenyi, that was such an important point about how if you miss a business definition. I'm going to ask you for an example. Can you think of a good example of companies that didn't understand the full extent of their business and got taken out as a result of it? I'll throw something out. It's tough because you tend to have survivorship bias. You only remember those companies that made it.…

Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.