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Textbook rental is a great concept. It is just a great business model.
Fact is, inventing an innovative business model is often mostly a matter of serendipity.
Burger King's business model was broken. But it was like sex in the '50s. Everyone knew it, but no one would talk about it.
You know your business model is broken when you're suing your customers.
When you've got a great business going, you go open another and take the risk of losing the whole thing. It's fun!
Not long ago, the term 'business model' was not exactly on the tip of everyone's tongue. Then, in the early to mid-1990s, 'business model' became a catchphrase that described how a company makes money or saves money.
If Youku had adopted YouTube's business model, we just would not be here. We would not exist.
See, what we were going to do was say, the Internet is this great business strategy tool.
Great investors need to have the right combination of intuition, business sense and investment talent.
