Deliberate under-monetization is anti-fragile.

Apple, Google, and Facebook have all forgotten this.

Apple reached $2T market cap by extracting maximum $ from hw and the app store.

Each individual decision made sense but tightened the noose a tiny bit. Collectively, the noose is now so tight people are gasping for air.

Hence the collective revolt of Epic, Spotify, Match et al.

Apple's current woes with developers and regulators stem from its 2016 goal of "doubling services revenue by 2020".

It achieved this, but at great cost. The worst part is that it's letting financial targets drive the company strategy.

The tail is wagging the dog.

Companies get large by extracting maximum value from the ecosystem.

But companies last longer if they leave some $ on the table. Leaving $ on the table discourages competition, puts off regulation, and builds goodwill with customers.

Under-monetization is anti-fragile.