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Costco as a startup

Yesterday, stock analysts upgraded Costco stock to “Outperform” as the warehouse discounter goes gangbusters in this recession (well, gangbusters is a relative term when everyone else is losing money).

CNN has a must read interview with Costco founders Jim Sinegal and Jeffrey Brofman, who go into great detail how they started the company with their savings and credit cards. What stands out most is how they never lost that shoestring ethos, how it was built in to the very DNA of the company.

Money quote:

Our attitude has always been that the best companies thrive and build market share during tough times. If they offer a great product and great value, they become even more important to the consumer.

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