With the exception of players that turned mercenary late in their careers to get a ring (i.e. Glenn Robinson), all of the #1 picks to win have been bigs.
To me, a perimeter player cannot be a franchise player. Simply put, there aren't very many people in the world (percentage wise) over 6'0". Of that small percentage, only an infintessimally small number are over 6'11". In other words, the talent pool for the guards is quite small, but many thousands of times larger than the talent pool for true centers. Consequently, the range of ability within the two groups is quite different.
Relatively speaking, there are a lot of potential NBA caliber guards. For that reason, while there is a great variety of ability within that group, there is not much overall statistical variation in that group. Put another way, guards cannot be truly dominant, becuase even the very best guard really isn't that much better than the second-best and so forth. (Think MJ and Drexler.)
In contrast, there are so few people over 6'11" that many of them end up playing in the NBA, whether or not they really can play. Just consider how many bigs didn't even play organized basketball before they got tall in late adolescence. There is considerable statistical variation at the center and power forward positions. (Compare the Admiral and Oliver Miller, for example.) In other words, it is possible to be truly dominant at C or PF, because many of the other players at your position do not have a fully developed skill set. (Think Timmy.)
For these reasons, I think that a true "franchise player" has to be a C or PF. Michael Jordan is just the exception that proves the rule.

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