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Industries go through cycles of innovation and concentration. During innovation cycles, many new non-standard products appear with innovative solutions, the entire pie grows really fast. As growth eventually stabilizes, standards become more relevant and consolidation happens, eventually leading to a stagnation that makes the industry ripe for disruption and change again.

If you look at processors, you see that with the early custom processors, followed by some standardization and copy around the IBM S/360, followed by more proprietary innovation around the PC era, resulting finally in the x86, eventually disrupted by the mobile chips, which then consolidated around ARM and so on.

I second this.

With cloud computing, we are essentially going back to the era of time-shared mainframes with remote access.

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