The Great Polarisation

When you look at the trends of the last few decades, it’s difficult to miss the signs, overt and covert, of there being an increasing polarisation in the business world. Even in the last decade, firms have been seeing extremely high profit rates primarily driven by the lack of competition. But this hides the underlying fragmentation of a previously solid market, which is likely to be the beginning of the next phase of exploration vs exploitation. To take a few examples:

Entertainment: The top musicians make more money today than ever before, and attract the lions share of profits of the…