> In elementary macroeconomics you learn it is impossible to make a profit because in a competitive market because it is rational for me to lower my price by on

> In elementary macroeconomics you learn it is impossible to make a profit because in a competitive market because it is rational for me to lower my price by one cent to get the deal and then it is rational for the competitors to do that until the point that profit is zero. Elementary economics fails (as many other social/economic theories) by assuming the ideal state; if the state is not ideal (i.e. the market is not competitve yet), there is a lot of profit to be had. This doesn't mean that you have to abuse monopoly powers to profit; you can simply be better (faster to innovate or spot opportunities) than your competition (until they catch up).