But those events are about the control of wealth, not the creation of wealth. Even after spending close to half my life as a business reporter, I realized I had very little idea how companies served customers, how people created together, how strategy was formulated. It has consequences. In fact, I would argue that what we often call competition is actually a form of cooperation in business, in the sense that healthy commercial rivalry sharpens the performance of the rivals. That's all about rearranging the chips around the poker table.
Smaller businesses are where most of the innovation and expansion are occurring.
There will always be a place for big companies, of course. When a product or service becomes a commodity, then it's possible to compete only through price, and when cost is everything, economies of scale become critical. They're all commodity-distribution industries where scale economies can still be obtained. But these megalithic industries account for a smaller and smaller proportion of economic activity. Some of them are, but as a result the big are getting less numerous.