Charlie Munger Quotes

For us to be successful, we have to kick our competitors' butt.

The fundamental basis of above-average performance in the long run is sustainable competitive advantage.

A company doesn't have to compete with Amazon. A company can instead innovate in sectors Amazon doesn't presently care about.

If all you're trying to do is essentially the same thing as your rivals, then it's unlikely that you'll be very successful.

When you compete with Wal-Mart, even if you think you've found a niche don't ever become complacent.

The objective is to enlarge the scope of your advantage which can only happen at someone else's expense.

Domination and monopoly is the name of the game in the web marketplace.

Global competition is about winners and losers.

I competed with Yahoo for 15-1/2 years, and the one thing I tried to do over the years was desperately try to get a deal with them.

If you don't have a competitive advantage, don't compete.

We must compete or retreat.

Sometimes, for businesses, competition can be inconvenient, because competition means that the race is never over, the game is never won. No matter how well you were doing in the past, there's always someone who are out there wanting to take your place. So the temptation to avoid competition is powerful. It's rooted in motives as old as Adam and Eve: in greed for yet more money, in fear of losing your position in the market and all the benefits it brings.

We don't go into a market without a chance of a 40 percent share and sustainable differentiation. We wouldn't get into wiring oil rigs if we didn't believe we could get 40 percent.

If you are a small company taking on a big company, you need to have a sense of humor.

We've got a great value proposition against Chromebooks, we are not ceding the market to anyone.

Competition exists everywhere.

Competition matters.

Uber sees ride-sharing as a winner-takes-all war and subsequently is willing to offer below-market prices in a bid to crowd out the competition.

Of course I'm not stupid enough to think that we could take on WWE head-on and win, because they're too big of a monster.

If you're a large organization, you may welcome a bit of regulation to keep the small guys out.

It may well be that creativity is the last unfair advantage we're legally allowed to take over our competitors.

We have found in a long life that one competitor is frequently enough to ruin a business.

Rarely have I seen a situation where doing less than the other guy is a good strategy.

Competition is. In every business, no matter how small or how large, someone is just around the corner forever trying to steal your ideas and build his success out of your imagination, struggling after that which you have toiled endless years to secure, striving to outdo you in each and every way. If such a competitor would work as hard to originate as he does to copy, he would much more quickly gain success.

Differentiate your products, provide great service and don't even think about trying to compete with Wal-Mart on Price.