> Is it because monopolies offer outsized returns to investors? Yes. The cycle is: Use capital from investors to capture (or discover/create) a market, build a

> Is it because monopolies offer outsized returns to investors? Yes. The cycle is: Use capital from investors to capture (or discover/create) a market, build a defensible 'moat' to exclude other entrants, and once secure extract money from the market to return to investors. In the simplest and most benign case, the moat is an economy of scale and/or network effect (the biggest is the biggest because it is the biggest and provides more ROI because it is the biggest).