To be a good business does not require maximizing extraction in the short term.

You can maximize value creation and take a small part of a grown pie.

People taking a one ply approach think it's mainly about extracting value.

People taking a multi-ply approach see it's actually mainly about creating value.

If you create a ton of value then even if you extract a small amount, you're still doing great and it can continue in perpetuity.

If you extract from something and kill it, you get returns... but only in the short term.