"In the end state, I think there's probably two different ways that people are going to continue to grow their businesses. I've talked and wrote about this a lot, but either you go turnkey, high touch, vertically integrated inside one industry (or a handful of industries) and solve a customer's problem really, really well, which I think is kind of the realm that you guys have been in, or you expand horizontally across lots of industries and you serve lots of customers in that space. And I think that that whole generic service at scale across all industries, I think the end state in a couple or a few decades is that there will be three or four companies doing that. And so that's the real answer to why don't you sell software, is I think our particular software, which enables that work, will have a market of three companies in 20 years, and everybody else will have scaled more vertically."

Visit The Fabricator for the full podcast / transcript.