- sol price (founders #304)
- inspirations: seven seas’ locker club (sailors’ store) and fedco store
- when you see people driving long distance to save some money, that’s usually a good sign
- he didn’t know anything about retail business, but that was the edge
- knowledge is created not by imitation, but by reconfiguration—this is probably why noobs can do better
- membership was established initially to circumvent the fair trade laws
- costco now makes money on membership fees
- he started fedmart then price club
- makro in amsterdam
- jim sinegal (costco) and Sam Walton (walmart) were better at executing sol price’s idea