I don't know that I'd agree with that. Look at the computer industry, for a example, and how many small, medium, and large agents all benefit from what amounts to a distributed economy of scale. Apple, Microsoft, Dell and the like all produce better products with less investment when their suppliers can spend fewer dollars per widget throughout the supply chain.

They happen on both spheres.

But yes, I would really like to know the rationale behind the GP's opinion.