I don't think traditional companies will subsume technology as the article claims - big companies tend to innovate by acquisition, and VERY FEW companies are actually good at producing software at scale. I don't think we've reached phase 3 in the article yet - very few companies have figured out the "magic" of software, hardware, large scale data mining, hosting, etc.
I also don't think tech will have long lasting monopolies, unless government regulation makes it so. Who's worried about IBM or Intel nowadays? Anyone using myspace or vine? All of these were dominant at one point.
I do expect a shift in investor mindset - right now tech companies are not held to the same profitability standards, so the tech stocks are very expensive for even wildly optimistic projections of future growth. It's as if the market is already pricing in a future monopoly for these companies. Given how fragile tech monopolies tend to be, I expect a correction at some point (not a good short though - no way to predict the timing)
I also don't think tech will have long lasting monopolies, unless government regulation makes it so. Who's worried about IBM or Intel nowadays? Anyone using myspace or vine? All of these were dominant at one point.
I do expect a shift in investor mindset - right now tech companies are not held to the same profitability standards, so the tech stocks are very expensive for even wildly optimistic projections of future growth. It's as if the market is already pricing in a future monopoly for these companies. Given how fragile tech monopolies tend to be, I expect a correction at some point (not a good short though - no way to predict the timing)