"When something is 'new and improved', which is it? If it's new, then there has never been anything before it. If it's an improvement, then there must have been something before it."

Previous Quote

there are all kinds of wonderful new inventions that give you nothing as owners except the opportunity to spend a lot more money in a business that's still going to be lousy. The money still won't come to you. All of the advantages from great improvements are going to flow through to the customers.

— Charlie Munger