Why Monopolies Win

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Every unhappy company is unhappy in the same way: they are stuck in brutal competition where margins are thin, customers are disloyal, and the pressure is relentless. Every successful company is different: they have found a way to own a category so completely that they set the terms. A monopoly in this sense does not mean illegal anti-competitive behaviour. It means building something so uniquely valuable that there is no direct substitute. Google owns search not because it lobbied to keep others out, but because it is so significantly better that switching makes no sense to most users. The goal for any serious company is to find a market it can own completely, even if that market starts very small.