Related posts[MELI – MercadoLibre] Digging the Moat (Or Is It A Grave?): Part 1[MELI – MercadoLibre] Digging the Moat (Or Is It A Grave?): Part 2In 2016, six years and several pro-competition pieces of regulation after the Central Bank of Brazil and antitrust authorities first pried the merchant acquiring market open to new competition, Cielo, […]
In nascent markets with winner-take-most dynamics, it’s particularly hard to know in the moment whether or not a company’s investments will ultimately add shareholder value. You’ll know when you get there but getting there means engaging in what looks like and very well may be, a reckless race to the bottom. But, to abstain while competitors spend gobs of […]
A few weeks ago, I came across the following remark from Joe Weisenthal in my Tweet feed: “Smart people can’t help but try to poke holes in things, and see the weaknesses in existing systems. But long-term investing requires a certain amount of dumb confidence that things will all work out over time, even if […]
