>>723321601 (OP)
Management and administration creep eventually hollows out a company.
They end up diluting their talent with more people who get hired on just to make up for how much effort they waste on petty office politics.
>>723323987
It's not capitalism, it's heavy-handed government licensing schemes like copyright that encourage publisher consolidation.
None of this happens under actual capitalism, because these structures would collapse under their own weight or would be undercut by something more efficient, rather than deriving value from the bureaucracy and using it to wage war against smaller competitors.
You can only graph this onto a convenient progression curve and say "late-stage capitalism", because IP law has gotten worse and worse over time at the behest of organizations like the WIPO.