Missing Markets in the iPhone Line

As I stand here in the iPhone line it is clear that entrepreneurship is dead. There are many missed clear market opportunities. First, where is the coffee cart? Second, where is the arbitrage between those with a preordered phone and those without? True on average that shouldn’t exist but given the size of the line there should be some trades to be made.

Finally, everyone here has an iPhone. Surely there is a big opportunity to buy old phones as people exit and arbitrage on eBay or something?

But none of this is happening. Just lots of waiting.

OK two hours later and we are out of the line. Basically, the iPhone 4 is all about the display. I can’t describe it in words. You will just have to see it for yourselves.

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