Zero competition is in a sense a way to subsidize industry so it can invest in infrastructure instead of marketing and sales. Covering the U.S. with power lines, cable TV wire and telephone exchanges costs billions. They were for the common good. Now the rules have changed, producing what I call a friction-free economy. Here economies of physical scale are no longer as important as market share.
Emergent behavior drives new businesses and makes possible rapid progress.
So although duplicate investment may seem like a waste, it is really a necessary evil. Our two pillars begin to crumble under the rules of the new economy. Instead of justifying the common good, a natural monopoly hinders its growth. For example, mass customization and greater personalization are possible because of competition in an unregulated environment. This creates consumer value.