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Daniel Gross, The Daily Beast
Ford, of course, is associated with the democratization of the automobile—the Model T was the first mass-owned car. But Ford started off as a luxury-car maker, making high-tech, impractical, very expensive vehicles for the very rich.That’s how it often goes when new technologies hit the market—they’re produced in small batches at a high cost. But as the companies increase production, as unit volumes rise, and as competitors enter the field and innovate further, the cost of the products falls, and falls, and falls again—to the point where the...

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