> Buffett knows well that there's no better way to put a moat around your business than to sell an addictive product. What a weird sentence. This isn't even sl

> Buffett knows well that there's no better way to put a moat around your business than to sell an addictive product. What a weird sentence. This isn't even slightly true. And drugs are the perfect example of a product that can't be differentiated and so is subject to brutal competition and the existing sellers are frequently replaced by their competition (from prescription generics to local street dealers to cartels). Ultimately it is so bad that the sellers rely on more coercive approaches to prevent competition (patent law and extreme violence respectively). > [Verisign's] profit margins are as high as 65%, which is insane. Like you see that nowhere else in business Pretty sure these are common software (SaaS) margins, right?