By traditional I mean business models that have stood the test of time: restaurants, construction, retail etc. They usually create something tangible which is in great demand universally. We all need food, shelter, clothes etc. May require significant start-up capital, product differentiation is limited and you usually end up competing against big players that have more or less efficient production.
By modern I mean business models that feed off innovation and information. Think software and knowledge business (e.g. consulting, data analysis, selling data and complementing services). Something materially intangible. These are your typical office jobs. Demand for these products may vary, some are now a basic necessity but most do not get any recognition at all. Usually requires small amount of start-up capital, possibilities for product differentiation are versatile and in some areas you are creating a whole new market/product which earns you a pioneer status.
If your goal is to have higher chances of building a sustainable large business based on healthy cash flow, which business type would you choose? Why?
EDIT: added a few extra characteristics to both business types.
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