Audio Episode 26 – The Really Deep Dive

Click here to listen to Audio Episode 26 – The Really Deep Dive

Way back in the olden days I can envision a prehistoric man trapping a small animal of some variety and trading it to another prehistoric man for a new spear. And at that precise moment in time, the first entrepreneur and the first customer were born. Now suppose that this first entrepreneur continued to trap small animals and trade them to other “customers” for the basic necessities that they could provide. This economy worked reasonably well until something happened. Another prehistoric man decided to do his own trapping and he too made his “product” available for trade. But a funny thing occurred. He was willing to trade it for something of less value than the first entrepreneur. So “customers” flocked to him leaving the first entrepreneur with “unsold” “inventory.” And thus, competition was born.