THE GROWTH OF generic manufacturers and distributors and the widespread availability of cloud services means that barriers to entry have collapsed in many industries that were previously dominated by traditional corporations. Anyone with a credit card and a Web connection can create an enterprise, from incorporation to production to distribution. The economies of scale that gave birth to the modern corporation have disappeared in many sectors. Lightweight entrants can scale up or down rapidly by renting rather than buying capacity, and their low cost means that in many domains they are a superior choice for consumers. For instance, Vizio (with 200 employees) sold about as many televisions in the ...

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