I think it makes sense in the semiconductor industry given the economies of scale required for profitability. Unlike heavy industries, though, startups can still emerge because you can simply contract out production (fab and back end) at competitive rates and stay independent or sell to a bigger player anywhere in the evolution of the company.

Other than the issues that have come up with privacy and copyright (not to be ignored obviously) it isn't an industry prone to natural monopolies versus say anything infrastructure related like power and telecom.

you are the media you consume.