>ELI5: How did USB-C become the universal charging port for phones?
Through a number of factors. USB-C has decent power delivery, data transfer rates, etc. There were some regulations about charging ports too, some recently. USB-C was relatively ubiquitous which made it attractive. It cuts down on costs to use an already established specification.
Note that Apple has been using their own proprietary port for a long time and just now switched to USB type C. Their lightning port had advantages over micro usb that was used prior to type C.
>Yes this is good business, but not all industries do this. Why?
It’s not always good business. You can google format wars for betamax vs VHS. Compact disc came as a joint specification to avoid a format war like that.
Some standards/specs may be mandated by law. At other times, it’s actually industry associations deciding a common specification is in the best interest of everyone (you sell more products, it cuts down on design costs, etc.). There are times too when a market sector just standardizes to one spec over time due to it being better. See Blu-Ray vs HD DVD or what’s happening with charging plugs for electric cars.
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