My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Brand moats are as valuable as technology moats but undervalued by tech entrepreneurs
Evidence
LVMH valued at $430B, luxury brands lasting centuries vs technology obsolescence
Implication
Entrepreneurs should consider brand-first strategies, not just tech-first
Counter Belief
Technology creates functional advantages that brands can't match
Example Application
Building a premium D2C brand in a commoditized health category rather than competing on technology
Related Knowledge
Diagnostic Authority Model
When you can diagnose a problem for someone, you gain more authority and sales leverage than if they already know they h
Learning Quality Assessment
Most people have experiences but learn incorrect lessons from them.
Brand as Moat Strategy
Using brand power as a primary competitive moat instead of technology or network effects, particularly effective in luxury goods where perception drives value.
Correct Lesson Learning Framework
A systematic approach to evaluate whether someone is drawing the correct conclusions from their experiences, rather than just having experiences.
Service-to-Product Acquisition Strategy
Using profits from a service business to systematically acquire better businesses with recurring revenue and product characteristics.
Acquire and turn around distressed luxury brands
Transformed brand with luxury margins (75%+), global distribution, and sustainable competitive moat