Value Investing News

The whole premise of razors-and-blades is that you get them to buy more blades after they have disposed of the original blades. Razor blades aren’t, to jump ahead in the story, say ebooks or computer macros, where use of the product generates a library that has a going forward value and one that might be forfeited if you switched platforms

• http://www.farnamstreetblog.com/the-razorsandblades-myth (123)