ThereвЂ™s almost always room to compete and room to fail. While platforms often win the market, itвЂ™s never a sure thing.

Microsoft launched Bing to compete with Google Zelle was created to compete with Venmo and Square Cash Lyft found room to compete with Uber. AmazonвЂ™s innovations only serve to improve market outcomes, not harm the consumer through inefficiencies and gouging.ДЄs well, when a platform is seen ascending to market dominance, the typical response is to build a competing one and vie for the top spot. Platforms have winner-take-all dynamics because they scale really well, but they donвЂ™t create harmful monopolies because they deliver increased efficiencies and value to the consumer.ДЄt present, Amazon delivers an efficient shopping experience with an unparalleled product catalog, competitive pricing, and a very economical shipping program that delivers inside two days. Facebook blew up the largely nascent social media world and took it by storm, capturing over 2 billion users. Google created the market for search and is now the verb used by many to mean вЂњsearch for information.вЂќ Uber disrupted the ride-hailing world and incumbent taxi companies with its platform approach, also becoming another industry-wide verb. The Platform Is KingДЇirst and foremost, Amazon demonstrates what should be well-known by now: platforms strongly tend to upend existing or create new markets, often becoming the dominant player. However, the online retail platform can hardly be blamed for its success and shouldnвЂ™t be punished by such a misrepresentation. Recent murmurings on Capitol Hill and on Wall Street have suggested that Amazon is in the same boat, thatвЂ™s itвЂ™s a monopoly in need of immediate antitrust activity by regulators. From US SteelвЂ™s slipshod management of the industry to AT&TвЂ™s suppression of telecom innovation and MicrosoftвЂ™s bundling of Internet Explorer and Windows, thereвЂ™s a track record of companies consolidating significant market power and abusing consumers. Monopolies have historically been a detriment, typically delivering restricted supply and inflated prices.

Is amazon a monopoly