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There’s a dirty secret in the incredible growth of Silicon Valley’s tech giants : it’s a cheat. Historically, US antitrust regulators would be deeply concerned about mergers with major competitors in concentrated markets ("mergers to monopoly") and acquisitions of small companies to neutralize future competitive threats ("catch and kill"). And while often permitted, vertical integration ("platform monopolies" where the company that owns a key service competes with its own customers) would at (...)