評論
打印
And then there's this thing of branding.
接下來還有品牌的問題
Which is sort of like this idea that gets lodged in people's brains.
品牌的觀念深入人心
I never quite understand how branding works,
但我卻不太了解這是為什么
so I never invest in companies where it's just about branding.
我從來不投資只注重品牌的公司
But it is, I think, a real phenomenon that creates real value.
但我想品牌的確是可以產生真正價值的東西
I think one of the things, I'm gonna come back to this a little bit, towards the end.
我想其中有一個--差不多結束的時候，我還會再講一點這方面的內容
But one of the things that's very striking, is that software businesses are often, are,
顯而易見的是出于某種原因，軟件公司
for some reason, very good at some of these things.
在這方面做得非常好
They're especially good at the economies of scale part.
他們在規模經濟這方面做得很好
Because, the marginal cost of software is zero.
因為軟件的邊際成本為0
And so if you get something that works in software.
如果你能做出一個好軟件
It's often significantly better than the existing solution.
比現有的解決方案好很多的話
And then you have these tremendous economies of scale, and you can scale fairly quickly.
隨著相當大的規模經濟，你的公司可以迅速擴張
So even if the market starts small,
因此即使開始時的市場很小
you can grow your business quickly enough to stay at the same size as the growing market.
你可以讓公司快速發展，并跟上市場增長的腳步
And maintain the sort of monopoly power.
維持壟斷的優勢
Now, the critical thing about these monopolies is, it's not enough to have a monopoly for just a moment.
關于壟斷比較重要的一點是，壟斷一時是不夠的
The critical thing is to have one that lasts over time.
重要的是能進行持續性的壟斷
And so in Silicon Valley there's always this idea that you wanna be the first mover.
硅谷中總有這樣一種理念，要做第一個吃螃蟹的人
And I, I always think it's, it's, in some ways,
但我覺得
the better framing is you wanna be the last mover,
笑到最后才會笑得最好
or you wanna be the last company in a category.
你要成為在你的領域里笑到最后的公司
Those are the ones that are really valid.
這樣的公司才是最好的
