bustling-noose

昨年議論

And many companies like to have a portfolio of both, or an offer at least from the closest competitor. Tim at Apple for example played this game for decades to make sure he always received competitive prices for parts. They tried to pull it off with modems and it backfired badly. So they built their own. But if QC was to play really nice with companies like Apple and Samsung etc, they could actually maintain their moat. But then good management is another important requirement which is a problem here.

bustling-noose

昨年議論

>though nowadays they have more competition in that area

This is what is called lack of moat. If today, every router beyond 1Gig was made by Cisco then the moat would be so wide that the internet would literally not exist without it.

The three things that any value investor values in stocks - Great management, good reinvestment of capital and a really wide moat. Cisco didnt have a wide moat. Nvidia currently does, but it may go away sooner than later as they don't really have any special sauce to their graphics cards as such. Same goes with OpenAI, or Qualcomm (Apple made a modem now) or any other tech company with an illusion of a wide moat. Tech businesses only have a wide moat until someone decides to compete seriously and that can usually be done with a lot of money in a relatively short time.

Some of the businesses like Walmart and Cosco for example have a really wide moat in the sense that their business is not something that someone with just money can beat in a few years. Look how amazon setup physical stores with money and failed. It's extremely difficult to setup that kind of business. Trust from suppliers and consumers takes decades in those kinds of businesses.

If your business is relying on a moat that someone can beat with R&D and money in a few years, then you don't really have a moat.

bustling-noose

昨年議論

>We are deprecating the blocking version of the webRequest API. This required extensions to proxy all network traffic to provide filtering capabilities, which came at a performance and privacy cost. The new declarativeNetRequest API provides a safer alternative for many use cases.

This is from manifest v3 google page. Is this declarativeNetRequest API not able to provide any filtration ? Proxying traffic does affect privacy, I agree, but that also means that Google is trusting all traffic by default which is another privacy concern. So the privacy concern seems to not make sense except that in one of the two, google loses money because of ads being blocked.

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