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Re:Market Concentration Is Threatening the US Economy by gumby on Wednesday March 13, 2019 @12:06PM (#19380041)
people form conglomerates too which typically underperform.

I guess it’s some combo of effort/risk? Collect a monopoly rent rather than take greater risk?

Your question is not unknown to economists and there is no clear answer.

Re:Market Concentration Is Threatening the US Economy by DennisP on Wednesday March 13, 2019 @12:24PM (#19380249)
Another possibility is an agency problem, where the company management is doing what's best for themselves rather than best for shareholders. (Just an idea, I don't know whether that's actually the case.)