Question of the day: Does a business become more efficient or less efficient as it grows?

Most business models can be distilled into arbitrage with value-add steps between the buy and sell (e.g. distribution, committed capital to reach EOS, branding).

Do you think small firms exist in a perfectly competitive market? Why?

Business idea: Mark Cuban Cost Plus Drug Company but for common health supplements. 90% of the cost of these products derives from the brand name on the bottle. All that matters is that the supplement is cleanly manufactured.

One way to look at a business is as the owner of one or many value-add steps along a value chain (e.g. a company that private labels a product and distributes it owns exclusively the branding step and logistics step). #business