Every monopoly is unique, but they usually share some combination of the following characteristics: proprietary technology, network effects, economie… - Peter Thiel

proprietary technology, network effects, economies of scale, and branding

Your company needs to sell more than its product. You must also sell your company to employees and investors.

MONOPOLY. Tesla started with a tiny submarket that it could dominate: the market for high-end electric sports cars. Since the first Roadster rolled off the production line in 2008, Tesla’s sold only about 3,000 of them, but at $109,000 apiece that’s not trivial. Starting small allowed Tesla to undertake the necessary R&D to build the slightly less expensive Model S, and now Tesla owns the luxury electric sedan market, too. They sold more than 20,000 sedans in 2013 and now Tesla is in prime position to expand to broader markets in the future.

...a lone genius might create a classic work of art or literature, but he could never create an entire industry.