Most of us weren't adults in the 70s when conglomerates ruled the business world and then in the 80s when hedge funds made bank buying them and splitting them up into smaller companies.
Goldman put out a piece about how Microsoft, Google, etc are the new conglomerates that are ready to be broken up. The moat they have now is their insane piles of cash, their profitability, and their huge market caps, which make them very hard to target or to force them to spin out businesses.
Once they start to lag, and it inevitably will happen, they'll start to have more pressure on them to break up into several companies.
Microsoft, Google and Apple all have 3-4 $10+ Billion dollar in annual revenue companies inside of them.
Goldman's thesis is that one of Google, Microsoft, Apple and Amazon won't exist within 10-15 years and its not hard to see a world where that's true.
It could be one of them being acquired(least likely IMHO), one splitting into multiple companies to unlock business protentional(most likely IMHO), or one being forced to divest by a government(probably the EU)