Disruption 'solves' what Coase called the 'marginal cost controversy' by killing incumbent firms via avg cost >disruptor cost >marginal cost
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Replying to @vgr
The digital economy rests on ads primarily because faster disruption drives economy closer to marginal costs plus ad costs (=Coase tx cost)
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Replying to @vgr
Why does Amazon, unlike traditional monopoly, drive down prices? It's self-disruptor recursively doing avg cost > disruptor cost > marginal.
2 replies 0 retweets 9 likes
Why did Rockefeller not do this but moan about "ruinous competition"? No self-disruption levers! Supply glut rate > innovation rate!
6:23 PM - 8 Jun 2016
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