Hamilton Helmer

And so the competitors for the iPhone are different largely than the competitors for the MacBook Pro.

You know, again, it's not perfect, but because sometimes that doesn't develop in exactly economic ways, but it's a pretty good way to look at it.

That's closer to pure diversification, right?

So if you think of that horizontal axis, that thing I was talking about, that's a spectrum from zero to 100%.

If you're in the car business, if you go from green cars to red cars, you have almost 95% shared skill.

Go from luxury cars to compacts, high sharing.

So Toyota can do it.

Go from cars to tanks,

pretty different.

Right, right.

It's not impossible, but quite different.

And then if you go from cars to refrigerators, it's really different.

So yeah, no, I agree with that analysis.

But remember to not to forget the importance of the entrepreneur in this.

because they are the locusts of inventiveness, and it doesn't happen without them.

And this isn't an automatic process or something mechanical.

There's individual human creativity involved, and it's especially evident in Apple.

But it's really true everywhere for all entrepreneurs.

And so that's why Janine and I have to be fairly modest about what we're doing, because what we're really trying to do is to provide pattern recognition for those people, but it doesn't substitute for them.

It's just a tool.