> many markets are naturally winner takes all
I don't think this is true. "Winner takes all" is a predatory behavior and it is only possible with enormous concentration of wealth. Otherwise markets become full of small players and fair competition.
I don't think this is true. "Winner takes all" is a predatory behavior and it is only possible with enormous concentration of wealth. Otherwise markets become full of small players and fair competition.
I would argue that the level of knowledge, talent, and engineering and scientific resources required to do what Google does forms a pretty effective natural barrier to a bunch of small players being able to compete.