The point is that Bob's Bearing and Brass Knob Corporation, even though they did contribute some parts to the submarine (a) probably failed shortly thereafter and (b) probably wholeheartedly intended to become the next General Electric.

No, I've worked for several small businesses over my 35 years after college, and none of them aspired to meteoric growth. I think they're the lions share of new businesses, but consistently overlooked because the media is interested only in businesses with meteoric growth or products that become the next new new thing.

I think the willful blinkering of business interests toward only the .001 percent business that's exploding RIGHT NOW is a greater contributor to the fragmentation of business today than the fading priorities of WWII ever was. The idolization of the Gambler on Wall Street (or in SV) has misdirected our priorities away from respecting those who seek to build a sustainable business where normal people want to make a sustainable living. Now the prevalence of jobs at yet another ephemeral startup or large corporation awaiting it's next merger/buyout has greatly destabilized the workplace, much less made the job of corporate leader/ visionary/ innovator next to impossible. Instead of creative invention, corporate CEOs now focus instead on cost cutting destruction, and Wall Street applauds.

I wouldn't call that fragmentation so much as disintegration.

The 'History' page of the Gorman [precision magnetic coil winding] Machine company is a fascinating read. http://www.gormanmachine.com/history.htm

There used to be many thousands of such manufacturing-based small businesses in America. They tended to stay focused on their competency or branch out tentatively into related products, flexibly grow and shrink to meet demand, or sometimes get acquired. But I don't think many of them planned to become the next General Electric.