That might look the way in theory, but it is not so in practice. There will never be another Google, or another Facebook, or another Amazon - efficiency based on scale and network effect mean they are entrenched as monopolies for ever, too big to fail.
Which is why Facebook replaced MySpace and Google replaced Yahoo and Altavista and so on.
The idea that economies of scale make it impossible for a company to never face competition is ridiculous. The only thing that can do that is govenment protectionism.
Along with economies of scale is the opposite effect: the inefficiency of bureaucracy and having competing interests between business units.
Yahoo was in a completely nascent unsettled market, and Microsoft didn't go anywhere. Microsofts net revenue and net income are large than Alphabets/Googles.
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