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I just hope that all the mega-corporations aren't trying to squash innovation by buying up everything, but I guess that's inevitable.
That's a valid concern, but at this juncture I think it's more of a "race to the top" sort of thing. And this is not fodder for little startups. It'll take massive resources to make this a reality, and FB and Google are the ones with the resources.
At some point in time, government regulations will likely break up any monopoly issues. Probably.