[phyzix5761]

And that's how regulations work. The very companies targeted by regulations often design and push for them. By doing so they gain a competitive advantage, price out smaller rivals, and move closer to becoming a monopoly. Michael Porter, Harvard Business School professor, talks about this in his book Competitive Strategy.

[AdamN]

The moat gets mighty large when the government regulators start making it bigger. That's one of the advantages that the Mag 7 has now - it's not just the scale but it's also the compliance burden for new entrants.