30 seconds.

One time for the under down.

Ignition sequence star.

Let me see you put them up.

Reach the skies, let the stars up above because it's one time for the underdog one time for the underdog

I'm Patrick Bedevi host of Aitainment and today we're gonna talk about an old

school game that we all used to play with our friends and family and that is monopoly.

But the question is, what is a monopoly and how does it work?

I'm not talking about our buddy named Uncle Pennybags who we play the game and we roll the dice and you hope to land on boardwalk and

You know pass go and collect $200 and not go to jail and we're not talking about that game today. We're talking about real life monopoly.

Three things cause a monopoly to happen. One, only one firm sells the product. There's only

one firm that sells the product. There's only one firm that sells the product.

Two, two, there is a very difficult barrier of entry

meaning the government's created so many regulations and licensing for you to get in that it makes it tougher for a smaller business to go in and compete with the bigger business.

If there's too many regulations, too many laws, very difficult for the smaller business to compete with the bigger business.

Three is there's no close substitute.

So close substitute could be, I have a choice between buying a car,

but there's motorcycles.

If a car is sold for $100,000, then there's a motorcycle, then there's a bicycle, then there's a

bicycle, I have a close substitute.

So when you think about those three things, I'll give you a few examples, business-wise.

When Apple first came out with an iPhone,

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