> Amazon for instance, a bookstore or e-commerce site is not a natural monopoly It is, in a way, because Amazon as an e-commerce site is really a fulfillment c

> Amazon for instance, a bookstore or e-commerce site is not a natural monopoly It is, in a way, because Amazon as an e-commerce site is really a fulfillment company which does tend towards a natural monopoly. It's inefficient to have dozens of companies with warehouses everywhere Amazon does to offer the same delivery guarantees. E-commerce then trends towards a natural monopoly because Amazon has cheaper fulfillment than anyone else. AWS further cements that, by making their hosting costs cheaper than almost anyone else. Without intervention, it's not shocking that whoever owns the natural monopoly on fulfillment would have a monopoly on e-commerce. In much the same way that whoever owns the rail lines would likely also dominate verticals largely defined by transportation costs.