Traditionally, those numbers have been big, and the bigger the required scale of investment, the harder it is for firms to enter and stay competitive. Some industries are still headed in the direction of ever bigger investments and capacity required to achieve scale. Today, building a new state-of-the-art semiconductor facility is so expensive – estimated at up to $30 billion – that only a few companies are left in the business where there were once dozens.

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Author: Paul Brody

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