The most valuable companies don’t sell products.
They own relationships.
Apple doesn’t just sell iPhones.
Amazon doesn’t just sell convenience.
Costco doesn’t just sell groceries.
Drake doesn’t just sell music.
The visible product is rarely the real business.
The relationship is.
Once you start seeing companies this way, you’ll never analyze a stock the same way again.
Day 325.
#HiddenArchitecture