> the fact that vertical works better It works better until it doesn't. A company with high market share and positive cash flow can invest in vertical integrat

> the fact that vertical works better It works better until it doesn't. A company with high market share and positive cash flow can invest in vertical integration. They gain economies of scale. It gets harder to adapt to the market and stay efficient and innovative at larger companies. Or they slowly kill off the competition and no longer find the need to innovate, and settle into money printing mode and monopolistic behaviors.