“Competitive advantage can be represented visually as 1 or more feedback loops. These create the advantage “flywheel” that maintain and grow a moat over time. Think of a big, heavy wheel that takes some effort to get started but then coasts off its own momentum. [Above] are 6 simple examples of common advantages represented as flywheels”
Most people, including me, would be better off if we gave up on being smart and stuck with a simple approach: long-term holdings of diversified, low-cost index funds, using only money we can afford to tie up for years.
Eventually, I ran out of money and started to seek VC funding. I had a working product, and customers using it, and everyone said no. Meanwhile, I watched other people who fit a different “profile” get money thrown at them for shitty ideas…The only thing I could attribute it to was that I was black…The whole experience made me hate raising money. But it forced me to become resourceful, scrappy, and maniacally focused. I learned how to stretch each dollar. Today, I’m very grateful. The business is approaching $30 million in recurring revenue, and growing more than 100 percent year-over-year. It’s been profitable since 2016. And I’m the majority owner.< Calendly founder Tope Awotona>