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90s Hardware Boom and Bust
- Steve Milunovich recalls covering hardware companies during the 90s tech boom and bust.
- He witnessed firsthand the rise and fall of firms like Dell, Sun Microsystems, and Cisco during the internet expansion and crash.
Mag7's Market Dominance Challenge
- The current tech giants may maintain their dominance due to vast installed bases and cash flow.
- However, discerning the next market leader remains challenging despite these giants' strengths.
Platform Companies' Network Effect
- Platform companies create value mostly outside their own walls via ecosystems.
- Their network effects and high margins result in faster growth and increased strength as they scale.