Facebook and the Cost of Monopoly
Peter Thiel:<p>"Apple’s iOS at the forefront, the rise of mobile computing has dramatically reduced Microsoft’s decades-long operating system dominance. Before that, IBM’s hardware monopoly of the ’60s and ’70s was overtaken by Microsoft’s software monopoly. AT&T had a monopoly on telephone service for most of the 20th century, but now anyone can get a cheap cell phone plan from any number of providers."<p>Um, he managed to pick the THREE OF THE MOST FAMOUS EXAMPLES OF GOVERNMENT ANTITRUST ACTIONS, while trying to argue monopolies do not harm innovation.<p>Doesn't the fact all three of the previously dominant monopolies faced anti-trust decisions against them, before major new competing technologies sprang up, make it clear how important anti-trust actions are for encouraging innovation?