It also means that unless you're starting out with at least $xx million dollars, you have no hope. It can take _years_ to get a business started if you're unlucky enough to choose a field under heavy regulation (something with it's own Cabinent-level bureau, like the FCC, EPA, or Fed).

The paperwork takes a long, long time to process, the processes are laden with significant fees, you have to pay staff (usually lawyers, not cheap) independently to prepare all of the forms and offer guidance through the process, and you have to be able to afford to wait for everything to go through, and that assumes a completely clean process with no need to contest, appeal, or resubmit anything.

The megacorps already initiated to the oligopolies hope that this is enough to prevent any significant or innovative new competition, and it usually is.

Sadly, those with the most innovative ideas are usually not those with the most $xx millions of dollars.