“Welcome to Adult Life”: American Express, Synchrony Financial & the Changing Credit Card Landscape

March 8, 2016 Moats 22 Comments

Two years ago, I investigated the moat around American Express’s (AXP) business.  I assessed the moat as wide and identified a positive feedback loop at the heart of it.  The loop ran like this: Spending on Amex cards is higher…

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C.H. Robinson and Two-Sided Markets

October 31, 2014 Moats 28 Comments

Regular readers will notice that this is the first post in quite some time.  Thank you for all your emails asking where I had disappeared to.  I will now return to writing again regularly.  I hope you enjoy it.  As…

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