What you seem to be missing is that the barriers to entry for modern technologies are incredibly low (and getting lower). From basic microeconomics, we know tha

What you seem to be missing is that the barriers to entry for modern technologies are incredibly low (and getting lower). From basic microeconomics, we know that the ability for a company to maintain >0 economic profit for an extended period of time relies on them maintaining a competitive advantage - barriers to entry help a lot with that. Today, disruption is so easy. Starting a app/website/platform involves almost no fixed costs and variable costs scale easily. We are now seeing century-old corporations being disrupted by university students. Technology has helped this situation, not hindered it. (fixed spelling)