this post was submitted on 07 Feb 2025
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I like to think of water utilities as a simpler example.
So you’ve got a water company, it provides everyone in the country all of their water, congrats, 100% market penetration. Production is mostly recycling, with the remainder falling from the sky.
So what now? Consistently make the same earnings every year, weighted for population changes?
Nope, graphs gotta go up, prices have to go up.