I think we're in such an odd spot. Companies are growing to such incredible size because of the inefficiencies of capitalism. For all the talk of markets and financial instruments the single greatest asset in our economy is cheap capital and we're simultaneously better than we ever have been at allocating it while also being abysmally bad.

We've invented feudalism all over again because paying tribute to your capital lord and uniting kingdoms through marriage is the best way forward. We've royally fucked something up when companies even want to merge. Vertical integration should be the coal mine in the canary that the incentives are all wrong.