When a handful of mega corporations control the game, the whole system shifts. Fewer players means fewer bets hitting the market. More importantly? Decision-making becomes centralized—concentrated in the hands of a few executives rather than distributed across a competitive landscape.

This is the real problem with Big Tech dominance. It's not just about market share numbers. It's about how capital flows, where innovation actually happens, and who gets to decide what matters next. When you've got that kind of centralization, you lose the friction, the competing ideas, the constant pressure to adapt and improve.

In crypto and decentralized finance, we talk a lot about avoiding these exact patterns. But it's worth watching how traditional markets mirror these same consolidation risks. The fewer independent voices making bets, the fewer opportunities for markets to discover real value.