What's the worst kind of competition?

Capitalism breeds competition. It’s what drives innovation and progress. It’s also what drives profits down and why companies go broke. It comes in many forms. Here let's look at one of the worst: a competitor that doesn't directly need to make money. Let me explain with a couple of examples. Fuel retailing has always been a tough business. And it got a whole lot tougher when Woolworths and Coles decided they wanted in. Neither needed to make money from fuel retailing, they had a supermarket duopoly to take care of that. Instead, they wanted a smart way to increase customer...

Capitalism breeds competition. It’s what drives innovation and progress. It’s also what drives profits down and why companies go broke. It comes in many forms. Here let's look at one of the worst: a competitor that doesn't directly need to make money.

Let me explain with a couple of examples.

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