> The most important ones are that big tech firms got big and stay big, not because of network effects or political power, but because of their rare expertise; and that they cannot keep their advantage in expertise forever.

The tech giants are not only good at whatever they're doing but are also capable of refreshing their expertise every 5 years or so, or even reinventing themselves as necessary. Neither Google nor Facebook are the same companies as they were 15 years ago.

I worry that like some of the major [evil] banks that survived world wars and major crises, the tech giants aren't going away, and neither will it be easy to compete with them.