It would be better if investors gave no reason when they turned cos down than their usual "it's not you, it's me" reasons.
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Respectfully, no it's not. Just having a counterexample doesn't invalidate a belief. After all, there are counterexamples to everything!
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Weighing the evidence - Google on the one hand, all other search cos on the other - I conclude that being in a crowded mkt is a disadvantage
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Depends. If your core is "doing the same, but better/cheaper/faster", then you *want* crowded markets.
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Besides I don't think PG is saying crowded mkt is an invalid reason. Just that it's often used as an easy out by investors.
End of conversation
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Because Google was able to turn their crowded market into an uncrowded one, right? Then the old market doesn't matter, only the new one.
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What are valid rejection reasons? Or we should not inform ?
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