I don't think that argument holds at all. The low hanging fruit from 10 years ago has been picked. But in a lot of ways we only see it as low hanging fruit in hindsight. Today there are new business opportunities that in 10 years will seem like they were low hanging fruit. There are new technologies today that will enable new businesses that wouldn't have been feasible before.

Even then, there are only going to be but so many companies that get to the kind of scale of Shopify and that was true 15 years ago, and it's true today. But there is plenty of room for new small and medium sized companies to make millions of dollars. Success doesn't always have to be at the 3 comma level.