CLOUD

68 you need to stay in the game . The quality of your revenue is important , and of course , it helps if you are already profitable . But it ’ s not just about your rate of growth . If a fastergrowing , profitable rival arrives , you ’ re going to need cash to ride out the storm , work out your response and implement it .

One response could be to scale through a merger . This might seem in direct contrast to the need to specialise , but Amazon ’ s scale gives it the best unit economics and price advantage . You need to counter the

AUGUST 2019