The Innovator, the Imitator, the Idiot

I liked this quotation, and wanted to save it for Googlesterity

“Buffett once told me there are three ‘I’s in every cycle. The ‘innovator,’ that’s the first ‘I.’ After the innovator comes the ‘imitator.’ And after the imitator in the cycle comes the idiot.”

-Theodore Forstmann, quoting Warren Buffett

The Innovator, the Imitator, the Idiot

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