Second—and this is the most fundamental lesson from Circuit City’s demise—the post-Wurtzel team underestimated how far a flywheel could go if seen as an underlying architecture (that can be extended) rather than as a single line of business.
Is it misunderstanding the flywheel that caused this or simply that the people who sold Carmax didn't imagine themselves in the car business or didn't see the potential of Carmax?
