Ideally, you should pick a business model with network effects, low marginal costs and scale economies. •Scale economies: the more you produce, the cheaper it gets 0:00 •Zero marginal cost of reproduction: producing more is free 0:51 •Network effects: value grows as the square of the customers 1:34 •Network effect businesses are natural monopolies 2:26 •In a network effect, each new user adds value to the existing users 3:06 •Zero marginal cost businesses can pivot into network effect businesses 5:01 Transcript: http://nav.al/business-models