completely agree with your statement. long term zero economic profit theory should state though as they move up the spectrum / take less risk (new entrants in their own space will enter to fill the space they can't fill anymore and they will have a new type of brand (e.g. fb was exclusive for college kids and now it's to connect everyone. so naturally college kids want something their age bracket want to use and fb is struggling to get those kids to continue to think it's cool. but for fb it works bc they created the industry they expand into). problem with incubators as they move up the spectrum is do they think they're as good as the guys that have been doing it for a long time / are they going to be perceived as threats and no longer synergistic alliances.