Early stages, the industry is growing so potential monopolists can fund operating losses by raising capital. So that’s what they do: they duke it out. 80s/early 90s were Apple and Microsoft fighting over whether PC or OS would be the commodity layer. Bill won.
@byrneseyeview > supply chains naturally alternate between fragmented and monopolistic layers. what happens if we get 2 monopoly layers touching? They merge? what happens if we get 2 fragmented layers? merge? one becomes a monopoly? thinking about early stages of stack
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Followup: do changes ripple up the stack, flipping bits, to keep the alternating pattern?
End of conversation
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