'I like to look for hard entries. If the entry level is easy then everybody comes in and competes with you and the country has no shortage of copycats.'
About this quote
- What does it mean?
- Hard entry barriers keep competition limited and reduce copycats.
- In plain terms
- Tough entry limits imitators.
- What can you take from it?
- Favor environments with high entry standards.
Where it applies
Putting it to work
Questions to consider
- What are the downsides of high entry barriers?
- How can we balance openness with quality?
Another view
High barriers can also stifle new talent.
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