But they span ten or so different industries with a $2T market cap, and it's full of unhealthy monopolistic synergies. They can wield this power to force deals and push out competitors across their multiple business units.

They can "ask" gaming companies to use Azure if they want to run on Windows or Xbox. They can ignore Mac and PlayStation as platforms. They can bundle software licenses, payment gateways, and design hardware that only works in one ecosystem.

This is the modern monopoly. Good luck competing with it or avoiding their platform fees as you try to grow your revenue. You'll undoubtably wind up feeding your direct competition somehow or another.