I think for a lot of people there's a pretty big difference between these two business models:

- We use cash to buy circuit boards, screens, enclosures, etc, write software, and sell mobile phones.

- We use cash to rent a building, order pallets of inventory, and sell that inventory locally to walk-in customers.

- We use cash to buy shares, hold onto them for a bit, and sell those same shares and make money off the spread.

I'm not making any kind of comment at all about the value of market makers, just... those three businesses feel like they're different models.