Monopolies may choose outdated tech over innovation, hindering societal progress.
A company with a monopoly on a product may choose to stick with an older, less efficient technology even when a better one is available for free. This can happen if the new technology doesn't significantly improve production costs or consumer appeal. This means the company might hold onto a patent without using it, even if it would benefit society. However, sometimes the company may innovate too much compared to what is best for everyone.