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Whereas a competitive firm must sell at the market price, a monopoly owns its market, so it can set its own prices. Since it has no competition, it produces at the quantity and price combination that maximizes its profits.

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Peter Thiel

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If I had known how hard it would be to do something new, particularly in the payments industry, I would never have started PayPal. That’s why nobody with long experience in banking had done it. You needed to be naive enough to think that new things could be done.

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The big challenge with Internet financial services has been that it’s very difficult to get large numbers of customers to sign up for your service.

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May 21, 2024

The big challenge with Internet financial services has been that it’s very difficult to get large numbers of customers to sign up for your service.

Previous

May 21, 2024

If I had known how hard it would be to do something new, particularly in the payments industry, I would never have started PayPal. That’s why nobody with long experience in banking had done it. You needed to be naive enough to think that new things could be done.

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