Welcome to a new segment in 15-Minute History called, Thursday Thoughts! Every other Thursday, Joe will speak about a specific person, place, or event in history in under five minutes.

This week, we teach you about Porter's Five Force model, how it helps break down the complexity of competition in the market, and its influence on businesses across the globe. Spoiler alert: Ever wonder why there are millions of podcasts? It's because barriers to entry are very low. As a result, competition is high, which makes us very thankful for you, our outstanding audience.