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Warren Buffett on How companies can develop 'Economic Moat'? How long does it take? (2002)

9 insights saved from this video by @business

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Snickers has held the number-one candy-bar position for roughly 30 or 40 years, including in Russia.
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During World War II, Coca-Cola expanded global bottling to put a Coke within arm’s reach of every American serviceman, reminding them of home.
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Arthur Anderson’s collapse showed that a strong reputation can disappear far faster than it takes to build.
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A competitive advantage gained quickly in a rapidly changing industry is also vulnerable to rapid loss.
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The strongest competitive advantages are often obvious, creating an investment problem because their stocks tend to trade at high prices.
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Consumers experiment with some products, but satisfied customers tend not to reconsider familiar products that already work.
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Walt Disney built a strong animated-feature advantage quickly after Snow White and several subsequent successes.
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Microsoft built recognizable competitive advantage quickly as its operating-system market expanded and changed rapidly.
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A sustainable competitive advantage develops at a speed set largely by an industry’s structure and rate of change.

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Warren Buffett on How companies can develop 'Economic Moat'? How long does it…: Key Insights & Takeaways | Korva