“The cost advantages that enterprises obtain due to size, output, or scale of operation, with cost per unit of output generally decreasing with increasing scale as fixed costs are spread out over more units of output.” - Gabriel Weinberg "In microeconomics, economies
“The costs associated with switching suppliers.” Source: Gabriel Weinberg's Mental Models I Find Repeatedly Useful
“Known unknowns refers to ‘risks you are aware of, such as cancelled flights….’ Unknown unknowns are risks that ‘come from situations that are so out of this world that they never occur to you.’ (related: Cynefin framework) Source: Gabriel Weinberg's Mental Models
“A spatial region or concept division over which a state or organization has a level of cultural, economic, military, or political exclusivity, accommodating to the interests of powers outside the borders of the state that controls it.” Source: Gabriel Weinberg's Mental Models
Sun Tzu: “Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” Source: Gabriel Weinberg's Mental Models I Find Repeatedly Useful
Structural factors that allow a firm to outcompete its rivals for many years. Source: Gabriel Weinberg's Mental Models I Find Repeatedly Useful
“A harmonized combination of multiple resources and skills that distinguish a firm in the marketplace.” (related: circle of competence — “you don’t have to be an expert on every company, or even many. You only have to be able to evaluate companies