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I agree. I like the way Arnold Kling expresses a similar idea [1]: "One of my beliefs about competition is that the business world is very forgiving of mistakes... On October 11, 1999, our business, along with the Scottsdale relocation business, was sold to homestore.com for $85 million. My share was quite dilute by this point...But a couple of percent of $85 million is still real money, particularly considering the sequence of mistakes, miscalculations, misjudgments, and erroneous forecasts that led to it."

Kling and coworkers had an important insight about what the internet was going to do to home-buying. This made up, in part, for such obvious blunders as failing to buy MapQuest.

[1] https://arnoldkling.com/~arnoldsk/aimst2/aimst218.html



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