Re: "Apple and Google have substantial and entrenched market power in mobile operating systems"
It's astonishing to me how much people in tech have bought into the "tech titans are monopolies because they are good at what they do". No. They obtained first mover advantage and now they are exploiting their market power to maximise profits and destroy the competition. It is classic monopolistic behaviour. Market dynamism is down - there are way fewer startups than there were 20 years ago because entrepreneurs know they haven't a hope in hell of breaking their stranglehold on the market. Product innovation is down - without any meaningful competition, they don't need to innovate to keep market share. When did you last see any innovation from Google? From Facebook? The CMA are absolutely on the right track here. When the AT&T monopoly was broken up in the eighties, it resulted in a huge growth in the market, massive product innovation in the telco space and, ironically enough, the widespread adoption of the internet. Bring it on.