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176 analysesBusiness Model ✕
The Price That Wouldn't Move: How Coca-Cola Got Trapped at a Nickel for 70 Years
Coca-Cola
The Pipe Won: How Broadband Quietly Took Over the Business Cable TV Built
Comcast
Costco Doesn't Make Money Selling You Things. It Makes Money Letting You In.
Costco
The Printer Is the Bait: How HP Sells Hardware at a Loss to Win the Ink War
HP
IKEA Designs the Price Tag First. Everything Else Is Built to Survive It.
IKEA
Louis Vuitton Never Holds a Sale. That Refusal Is the Entire Strategy.
LVMH
Spotify Owns the Best Music App in the World. It Just Doesn't Own the Music.
Spotify
Why Uber Gets Expensive at the Worst Possible Moment
Uber
Visa Lends Nothing and Risks Nothing. That's the Whole Genius.
Visa
Qualcomm Sells Chips. The Profit Is in the Patents Behind Them.
Qualcomm
Dell Took Itself Private to Hide the Thing It Was Already Doing.
Dell
Alibaba's Flywheel Still Spins. The Question Is How Hard the Wind Now Blows Against It.
Alibaba
Square's Most Famous Win Was a $71 Million Loss. The Real Machine Was Built Elsewhere.
Block (Square)
Snowflake Gets Paid Only When You Run. That's the Genius — and the Time Bomb.
Snowflake
Palantir's Government Moat Isn't a Wall. It's a Permission Slip.
Palantir
CrowdStrike Crashed 8.5 Million Computers and Kept 97% of Its Customers. That's the Moat.
CrowdStrike
Pinterest Knows You're About to Buy. It Just Can't Charge Like Google Yet.
Pinterest
Reddit Didn't Betray Its Community in 2023. It Stopped Subsidizing Them.
Reddit
DoorDash Won by Going Where Uber Eats Refused to Drive
DoorDash
Instacart Owns No Stores, No Trucks, No Inventory. It Traded Them for a Liability It Can't See on a Map.
Instacart
Coinbase Sells Compliance as Its Moat. The Real Moat Is a Stablecoin Contract.
Coinbase
Robinhood's Free Trading Wasn't a Gift. It Was the Bait on a Hook It Couldn't Always Hold.
Robinhood
Epic Didn't Sue Apple to Save Fortnite. iOS Was 7% of the Money.
Epic Games
Roblox Paid Creators $1.5 Billion in 2025. The Median One Made $1,575 (in 2024).
Roblox
Roku Loses Money on Every Box It Sells. That's the Plan, and It's Working.
Roku
Booking Pays Google $7 Billion to Rent Customers It Then Tries to Buy Back for Free
Booking Holdings
Walmart's Low Prices Aren't a Pricing Strategy. They're a Logistics Machine in Disguise.
Walmart
7-Eleven Looks Asset-Light. Its Fresh-Food Ambition Is Quietly Heavy.
7-Eleven
Wayfair Never Touches the Couch. The Problem Is Everything It Has to Touch Anyway.
Wayfair
Etsy Didn't Lose Its Handmade Soul. It Has Quietly Resold It Three Times.
Etsy