Building a Vertical Integrator is really hard. 

1. >2 companies at once
2. Hardware is really hard
3. Incumbents are not dumb
4. The right level of integration is not obvious
5. Can’t pivot nearly as easily
6. Something better might come along
7. Takes money to make money

Indeed, building a Vertical Integrator poses numerous challenges, as you highlighted. It requires careful consideration of market dynamics, resource allocation, and strategic decision-making. Success in this endeavor demands a deep understanding of the industry landscape and a resilient commitment to overcoming obstacles. It's a complex journey that necessitates a blend of vision, execution, and adaptability.