Agree - networks effects and winner takes all is driving these profits (ie the Microsoft Office world wide dominance, with Google as only real alternative).
I believe AI might even strengthen their positions - they can invent and iterate at an even higher pace, with already massive barriers of entry.
Great work, as always 👏👏👏👏
Thanks prof. I agree. In addition to "winner takes all", I believe growth is rarer now, than it was before. Therefore, everyone is chasing growth.
Really comprehensive explanation! Great to read!
Agree - networks effects and winner takes all is driving these profits (ie the Microsoft Office world wide dominance, with Google as only real alternative).
I believe AI might even strengthen their positions - they can invent and iterate at an even higher pace, with already massive barriers of entry.