There are many markets within The Market that offer different rewards for capturing. For instance, consolidating the healthcare market (or a specific disease or niche of the healthcare market) will pay many fortunes more than consolidating the sporting goods market (or a particular niche of the sporting goods market). These are the facts of life that we've all come to trade around and to use to value companies. There exists some markets that The Market has deemed impossible to capture, impossible to consolidate. Markets that it doesn't quite make sense to capture under one large umbrella, or markets where a local domination for each region is essential - real estate is a good example. Another example of a market where...
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