Maybe they won't create it, but they'll buy it. Most large companies correctly believe that the capital required to create a new phenomenon from the ground up

Maybe they won't create it, but they'll buy it. Most large companies correctly believe that the capital required to create a new phenomenon from the ground up would be too expensive than to simply buy it once one looks promising. The number of startups and capital expended just to create such a phenomenon (a big phenomneon, not mediocre in the grand scheme of things) is huge, so acquisitions are a good deal.