The grocery chain example has one very important difference: You can choose to buy Apple - they aren't a monopoly by any means in any market. Whereas with the

The grocery chain example has one very important difference: You can choose to buy Apple - they aren't a monopoly by any means in any market. Whereas with the grocery chains - you must go to the store in California or not get groceries. I think Peter Thiel's logic is flawed. Apple does not conglomerate, does not have a monopoly in any sense, and has actively avoided those situations. In order to please shareholders it does need to innovate and attempt new markets (Project Titan is a good example). Microsoft in the 90s was completely different - they wanted domination.