Funny that you would take the example of oil companies : it was the small tight oil startups that did the latest round of innovation (in hydraulic fracturing, though it was a "take already existing innovations and integrate them" kind of innovation) and captured that market (even though they never became profitable as an industry), and some of the "7 sisters" themselves come from the antimonopoly forcible splitting of Standard Oil into 34 companies... (when the forced splitting of the GAFAMs ?)
Funny that you would take the example of oil companies : it was the small tight oil startups that did the latest round of innovation (in hydraulic fracturing, though it was a "take already existing innovations and integrate them" kind of innovation) and captured that market (even though they never became profitable as an industry), and some of the "7 sisters" themselves come from the antimonopoly forcible splitting of Standard Oil into 34 companies... (when the forced splitting of the GAFAMs ?)