A few quotes from Stratechery last week that caught my attention.

"Cheapness creates scale, which makes things even cheaper, and the ultimate output is entirely new markets."

"A business carefully evaluates options, and doesn't necessarily choose the highest upside one, but rather the one with the largest expected value, a calculation that incorporates the likelihood of success — and even then most find it prudent to hedge, or build in option value. A dreamer, though, starts with success, and works backwards."