Then perhaps we’re seeing one of the downsides of that. When 0->1 is prohibitively expensive, existing players can continue to raise prices *very* high because cost-of-entry is extreme, until it’s not sufficiently extreme.
And then we have bubble issues because the introduction of a new, cheaper player, causes the bottom to fall out and for the circumstances that allowed the new manufacturer to exist to completely go away.
And then we have bubble issues because the introduction of a new, cheaper player, causes the bottom to fall out and for the circumstances that allowed the new manufacturer to exist to completely go away.