@jjoelson @matthewstoller The issue isn't that Apple has done something "wrong" in building out useful integration. From a mile-high perpsective, it's policymakers who have done something wrong by structuring mkts in ways that allow network and integration effects to belong to single corporate incumbents. Google, Apple, Meta have insane margins. They could have faced lots more competition and still been incentivized to do the good part of their work, and had better mkt signals to guide them. 6/