But we must never lose sight of the role of prices in this process. Profits, for example, are maladjustments between supply and demand. It is these signals that direct entrepreneurial activity. Even where at first the possibility of competition seems remote or impossible it will always make itself felt. Canals and railways spring to mind, as does air travel, as examples the competitive process.
Apple computers is another.
Now these examples demonstrate the fact that the discovery process is akin to experimentation in which entrepreneurs seek out profitable opportunities by introducing new products, innovations, new production techniques, etc. Even much derided product differentiation plays an important role in this process. Moreover, successes for entrepreneurs in one area can create a multitude of profitable opportunities for imitators. If Apple could have predicted the emergence of Windows, Gates would not be the figure he is and it would be Apple facing monopoly charges, not Microsoft. What is not so evident is that the size of the firm is not relevant to the argument.