Three Essential Elements of a Cash Cow

The first is the moat — whether it can achieve monopoly.

The second is stability — whether there are any major variables.

The third is shareholder-first alignment.

Between employees and shareholders, you can betray employees in favor of shareholder interests; between customers and shareholders, you can betray customers in favor of shareholder interests; between ethics and shareholders, you can betray ethics in favor of shareholder interests; between ideals and shareholders, you can betray ideals in favor of shareholder interests.

That’s how you attract investors.

We can’t bet on someone’s integrity not failing us. We can only bet on their interests not being betrayed.