Peter Thiel made a similar argument about monopolies years ago. As I pointed out then [1], the argument only shows that monopoly is good for the monopolist; it

Peter Thiel made a similar argument about monopolies years ago. As I pointed out then [1], the argument only shows that monopoly is good for the monopolist; it doesn't actually show that monopolies are good for society as a whole. [1] http://blog.peterdonis.com/opinions/monopoly-money.html http://blog.peterdonis.com/opinions/monopoly-money.html