*Dominant their current market and face only limited competitive pressures.

*Operate in markets with high barriers to entry and/or scale (i.e. Industries that are hard for competitors to enter at all or feature significant barriers to generating material initial growth).

*Participate in industries in which the longer-term addressable market is almost certainly much larger than the current market.

*Feature a set of positive feedback loops that cause the company’s products or services to improve more rapidly than their current or future competitors are likely to be able to achieve.

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