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Overall, it doesn't sound to bad. What caught my attention was this line: > Another gripe is that traditional asset managers can no longer compete. “Public mar

Overall, it doesn't sound to bad. What caught my attention was this line: > Another gripe is that traditional asset managers can no longer compete. “Public markets are becoming winner-takes-all,” complains one of the world’s largest asset managers. “I don’t think we can even come close to competing in this game,” he says. Individually, this doesn't really say much. But various sectors becoming "winner-takes-all" seems to be a trend right now that concerns me. Some say it is just a trend, a new age of conglomerates, and it wont last. I hope they are right.

marcosdumay 7y ago
Historicaly, this is not the first time we see that trend. I do have the theory that some technologies inherently lead to larger enterprises, while others lead to small ones. Think about steam vs. electrical motors for a quick image. The internet seems to be of the first kind, but since it has a large social component, I wouldn't make any large bet on this property holding forever. There is also an unrelated effect that the same technology tends to enable larger and larger enterprises when it matures. But this one seems to be much smaller, and not really relevant right now.