> "The concept of the soft drink business is so pervasive that in the US, the lemonade stand is the most basic business we teach kids. So a lot, probably. Somehow common sense logic and business basics should have turned any of them into a $2Tn empire, 150 years later"
That doesn't work because look at all the companies selling generic cheap soft drinks, competing for the lowest cost, and not being anywhere near 150 years old or $2TN. Munger's talk is about what Coca-Cola would need to do over and above ordinary "selling a soft drink" to achieve such a thing.
That doesn't work because look at all the companies selling generic cheap soft drinks, competing for the lowest cost, and not being anywhere near 150 years old or $2TN. Munger's talk is about what Coca-Cola would need to do over and above ordinary "selling a soft drink" to achieve such a thing.