[andrewjl]

> You’ve just described what is called “competition”. Having to lower prices to keep up with competitors.

Suppose a larger company is selling a product that competes with yours at a loss so as to undercut you due to other sources of profit. Do you think that sort of competition is fair? Does that result in the best product winning the most market share?

> I challenge you to point out an example of a one grocery-store city where that strategy has worked to keep competitors out.

Not the GP, but recommend The Wal-Mart Effect by Charles Fishman.