I think what we’re seeing with “too big to fail” is that it also means “too big to succeed”. Personally, I suspect that the 20 companies each at 1% GDP will ou

I think what we’re seeing with “too big to fail” is that it also means “too big to succeed”. Personally, I suspect that the 20 companies each at 1% GDP will out perform the 20% company in most or even all markets. (Setting aside the issue of relative GDP between nations.) Often, the bazaar is more effective than the cathedral.