Here's something worth thinking about: when people worry about firms having too much market power, they're often asking the wrong question. The real issue isn't how big a player is right now—it's whether new competitors can actually get in the game. And honestly? Governments are the biggest gatekeepers here. A recent guest essay points out this overlooked dynamic. In most industries, when one company gets too comfortable at the top, regulators suddenly become concerned. But dig deeper, and you'll often find it wasn't just natural market forces that created the barrier. Government policies—whether intentional or by accident—frequently make it nearly impossible for fresh players to enter. This matters especially in finance and crypto, where regulatory moats are real. The takeaway: focus less on current market shares and more on whether the door is actually open for challengers.