Acquire Research Results by Hiring and Buying
Conventional economic wisdom holds that monopolies should spend heavily on research. But if you want to become as rich as Bill Gates, you have to remember that it is cheaper to wait for a small company to come up with something good and then buy them. In the old days, antitrust laws kept monopolies from buying potential competitors. But not anymore. When Microsoft products were threatened by network computers and Wed-based applications, they simply bought WebTV and Hotmail.
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