> For me, it's the existence of a player that can squeeze the margin for others. So you’re segmenting luxury phone market and saying Apple has no competition i

> For me, it's the existence of a player that can squeeze the margin for others. So you’re segmenting luxury phone market and saying Apple has no competition in that space except Samsung and others have tried for years to make luxury phones. iPhone users do not want them and it’s primarily due to preference. They don’t want to have to learn another os, they don’t like the look/feel, they don’t get a test drive option, etc. I just believe that’s their personal risk assessment that Apple benefits from but it’s not lock in because I just don’t think people really give a shit about iMessage that much. I have to believe the true perfect competitor you want them to have will have an acceptable solution as well.