In the real world outside economic theory, every business is successful exactly to the extent that it does something others cannot. Monopoly is therefore not a pathology or an exception. Monopoly is the condition of every successful business. Tolstoy opens Anna Karenina by observing: “All happy families are alike; each unhappy family is unhappy in its own way.” Business is the opposite. All happy companies are different: each one earns a monopoly by solving a unique problem. All failed companies are the same: they failed to escape competition.

Los capitalistas de riesgo tienen por objeto identificar, financiar y beneficiarse de compañías en fase inicial. Recaudan dinero de instituciones y gente acaudalada, lo colocan en un fondo e invierten en las compañías tecnológicas que consideran con más opciones de revalorizarse.

Today’s “best practices” lead to dead ends; the best paths are new and untried.