Love this question as well, and I'll approach it from a couple different
perspectives. First, I'd acknowledge that some markets are so big or fast
growing that multiple amazingly successful winners can emerge. As of today,
Apple is worth $2.8T and Microsoft is worth $2.25T. While I'm sure both
companies wouldn't mind adding their other's market share to their portfolio, I
also think any reasonable person would consider both outcomes desireable.
This example is not to say there's not need to play defense if a market is large
or fast growing enough. Quite the opposite, both companies needed ...
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