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James Bessen - Understanding the Tech Paradigm
Value Investing with Legends
The Challenges of Innovation Concentration and Corporate Entrenchment
Proprietary software is leading to the entrenchment of strong companies, hindering the ability of smaller companies to compete. This concentration of innovation in a few companies restricts the diversity of sources for new ideas, potentially limiting future innovation. The high concentration of power in dominant companies can lead to increased political influence and reduce social mobility, as smaller companies struggle to grow and compete effectively. The evidence shows that innovative startups are not growing as rapidly as before, highlighting the critical downside of concentrated innovation and corporate entrenchment.
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