You know, in Santiago, near where I lived there was a kiosk owner making, no joke, a million USD a year, in Chile of all places, just because he had a killer lo

You know, in Santiago, near where I lived there was a kiosk owner making, no joke, a million USD a year, in Chile of all places, just because he had a killer location. I knew the guy, I think his name was CG or similar, I never saw the name in print, and he was a pretty solid guy but he knew exactly how much to charge for the convenience. Now it is pretty convenient, but finally someone put up a shop close by, explicitly to compete with CG, and he undercuts him a lot. I feel like college economics classes teach you a version of perfect competition (like kiosks in Santiago) that is what I would call "hyper-lubricated." Profits lead to competitors instantly, without any friction or delay. You can't raise your prices long enough to profit. And that's not real, many businesspersons can raise prices and profit from it for a period of several years thanks to this friction. But eventually people figure out you're giving them a bad deal in a way they can't forgive. That happened to me with Amazon. They sold me some fake shit, not much fake shit, not expensive, but that was it, after all that bluster about how I'd never do business with a company that did x or y, I found out x and y consist specifically of selling counterfeits.