Yes, that’s the play on (or expansion of) definitions that he is making. The dictionary gives you a moment in time, but if a monopoly had a lifecycle, what is

Yes, that’s the play on (or expansion of) definitions that he is making. The dictionary gives you a moment in time, but if a monopoly had a lifecycle, what is the earliest thing you can call a monopoly? Even at the earliest stage it technically excludes competition because they don’t know about it yet, and there is inertia in them constructing and making the same offering. Not a great barrier, but really not very far removed from the concept of a trade secret.