No, Competition isn’t Always Good

People always say it is good if company X does better, because it brings more competition. And competition is good, right?

One of the most annoying truthism I hear people pander is this idea that competition is always good. Specifically, this comes up often when a dominant company which has held back the market for years slips and the little guy gets some time in the sunlight. This could be AMD beating Intel for a change. It could be ARM beating x86.