[seniorivn]

the only solid fact that you need is that tech giants of the past are not tech giants today, and the same way MS missed mobile market, Nokia failed with touchscreen smartphones, atnt and its parts failed to innovate, ibm lost and left pc/x86server etc, current giants are likely to loose. The only difference now is that the biggest competition today is from foreign companies that leads to them being able to get support of government and therefore compete not on the basis of merit, but in a political way.

[JohnFen]

> the only solid fact that you need is that tech giants of the past are not tech giants today

That's far from the only solid fact you need to know, though. You need to know the conditions and circumstances around it all.

[seniorivn]

well, there is an assumption, that the circumstances are a political/economical system which is the same one. But there is an argument to be made about deterioration of institutions

[NalNezumi]

And it's a huge assumption. To the level of "you can ignore friction" for middle school physics class.

You need to look no further back than the robber barons to see "tech" (yes they were tech, not in the modern sense but industrial) and how it required massive political mobilization to get rid off. It wasn't "free market" that did it, in matter of fact it perpetuated the monopolistic behavior.

We can cherry pick history all day. The point is that "only required argument is historic" is stupidity, and often requires assumptions, cherry picking and nitpicking

[nickpp]

> no further back than the robber barons

The fact that you have to dig back to the 19th century speaks volumes.

And if you knew your history, you'd know that, for example in the case of Standard Oil competition and free market already broke their monopoly before any government intervention.

And there are many other closer examples where free markets brought wealth and prosperity together with competition and innovation while turning away from them only brought poverty and authocracy.

My favorite example I actually lived through was the incredible success story of Eastern Europe after getting rid of communism. From cold and hunger to high-rises, iPhones, luxury cars and city breaks. All thanks to a minimally regulated free market.