[AlexandrB]

I think it depends. Bell labs famously invented many of the foundations of modern computing while Bell was a monopoly. It's also hard to do capital intensive research (e.g. semiconductor manufacturing) as an upstart. You need the resources of an Intel.

Meanwhile, companies that leverage existing technologies in new ways can be innovative with much fewer resources - e.g. your typical web startup.

[syzar]

One can find examples in support of either position. What is the overall benefit of one side vs. the other? I don’t know the answer and it isn’t clear to me which is the better option. There are pro and cons to both positions.