Why Monopolies Are Bad

"Late last week, a little-known Chinese artificial intelligence start-up called DeepSeek revealed that it had come up with more advanced Artificial Intelligence than America’s Big Tech companies, and at a tiny fraction of the cost — even without access to America’s advanced chip technology.

"To add insult to injury, DeepSeek has made its technology 'open source' — that is, available to everyone.

"The lesson here is that Microsoft, Amazon, Meta, and Google became too big, fat, and musclebound to remain sufficiently innovative. Instead of out-of-the-box invention, they specialized in marginal improvements.

"By contrast, Chinese tech corporations compete fiercely with each other. This has put them on the cutting edge — and why China has been able to come up with startling innovations (not only in AI but in electric vehicles, batteries, even TikTok and much more).

"China’s secret sauce hasn’t been big subsidies from the Chinese government creating giant 'national champions.' It’s been intense competition."

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American Capitalism just got a black eye