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> Crony capitalists seek to generate profits without producing anything of value. If they are generating profits, then they are doing something valuable. Are

> Crony capitalists seek to generate profits without producing anything of value. If they are generating profits, then they are doing something valuable. Are they sucking cash out of the government? Maybe, but it's valuable to somebody. You want to fix it? Don't try to fix the entrepreneurs, fix the goddamn government. Most of these Comcast-type rent-seekers are complete and total assholes, I agree, but I'm not about to hold my breath waiting for them to stop going where the money is.

TheOtherHobbes 9y ago
Of course it's valuable to someone. That isn't the point. The point is whether it grows useful economic activity, or whether it actively slows useful economic activity.
hn_throwaway_99 9y ago
> Don't try to fix the entrepreneurs, fix the goddamn government Did you read the article, because that's its point. Last sentence: Let's hope legislators can put aside the rancor of this hyperpartisan age and work to end the favoritism that gives well-connected businesses an unwarranted advantage.
CryptoFascist 9y ago
"If they are generating profits, then they are doing something valuable." Starting out with a completely unsupported assertion, eh? Bold strategy!
leggomylibro 9y ago
Kind of reminds me of that episode of Always Sunny in Philadelphia where Danny DeVito's character comes out of retirement to save his former company. "So what do we make here, Frank?" "What d'you mean? We make money." "Right, yes, but what do we actually create?" "We create wealth." "Okay, but like, what do we produce, what do we manufacture, what do we design?" "Manufacture? Leave that to the c&$%^s, we produce profit!" Incidentally, starting to order parts a few hundred at a time from places like Taobao for various projects, I'm noticing that there are a lot of companies who just do that and slap a 500% markup on Amazon. Want a 6-pack of $0.15 mini-breadboards or a few dozen $0.05 jumper wires? Sure, $5.99 with prime shipping. What a steal!
- abakker 9y ago
  Alternatively, I am willing to pay a very small amount in absolute terms for the convenience of not ordering 500 breadboards :). Bulk ordering has always been an accepted way to pay less in unit costs, but it helps move the risk from the manufacturer/wholesaler to the buyer. If you want to take the inventory risk, then you charge the customers for doing so, and the wholesaler cuts you a deal for reducing their risk in a concomitant way.
  - leggomylibro 9y ago
    Me too, but there are services for ordering off of Taobao in Western nations which will collect your orders somewhere on the mainland, send you pictures of each item and allow you to return things that don't match, and then package them into a single shipment. You pay a ~10% commission and a bit more on shipping, but it still comes out to much much less money, if you're okay with waiting a week or two.
- dsfyu404ed 9y ago
  I wonder if anyone has written software that takes Amazon Prime listings and copies them to eBay with a tiny markup then automates the payment transfer.
  - sedachv 9y ago
    I do not know if it was automated, but two eBay sellers I purchased from were doing this with their Amazon Prime accounts - the items were shipped to my address by Amazon. I was upset because the reason I shop on eBay instead of Amazon is to purchase from independent resellers and vendors.
- noonespecial 9y ago
  It takes 2.5 weeks minimum to get the product from Taobao in the USA. The extra money is for getting it in 2 days. Also, remember that most of that "markup" is for shipping, Amazon fees, and taxes. You can't ship those items for less than $2 even with Amazon FBA (remember, with Prime its the seller whos paying for shipping, not magic Amazon elves). The Taobao guy paid $0.18 to ship the same from China (there's a long story about how that happened too). After paying all that, the guy selling that stuff for $6 probably made $0.40 on the deal. A steal indeed.

TheOtherHobbes 9y ago

Of course it's valuable to someone. That isn't the point. The point is whether it grows useful economic activity, or whether it actively slows useful economic activity.

hn_throwaway_99 9y ago

> Don't try to fix the entrepreneurs, fix the goddamn government Did you read the article, because that's its point. Last sentence: Let's hope legislators can put aside the rancor of this hyperpartisan age and work to end the favoritism that gives well-connected businesses an unwarranted advantage.

CryptoFascist 9y ago

"If they are generating profits, then they are doing something valuable." Starting out with a completely unsupported assertion, eh? Bold strategy!

leggomylibro 9y ago

Kind of reminds me of that episode of Always Sunny in Philadelphia where Danny DeVito's character comes out of retirement to save his former company. "So what do we make here, Frank?" "What d'you mean? We make money." "Right, yes, but what do we actually create?" "We create wealth." "Okay, but like, what do we produce, what do we manufacture, what do we design?" "Manufacture? Leave that to the c&$%^s, we produce profit!" Incidentally, starting to order parts a few hundred at a time from places like Taobao for various projects, I'm noticing that there are a lot of companies who just do that and slap a 500% markup on Amazon. Want a 6-pack of $0.15 mini-breadboards or a few dozen $0.05 jumper wires? Sure, $5.99 with prime shipping. What a steal!

abakker 9y ago
Alternatively, I am willing to pay a very small amount in absolute terms for the convenience of not ordering 500 breadboards :). Bulk ordering has always been an accepted way to pay less in unit costs, but it helps move the risk from the manufacturer/wholesaler to the buyer. If you want to take the inventory risk, then you charge the customers for doing so, and the wholesaler cuts you a deal for reducing their risk in a concomitant way.
- leggomylibro 9y ago
  Me too, but there are services for ordering off of Taobao in Western nations which will collect your orders somewhere on the mainland, send you pictures of each item and allow you to return things that don't match, and then package them into a single shipment. You pay a ~10% commission and a bit more on shipping, but it still comes out to much much less money, if you're okay with waiting a week or two.
dsfyu404ed 9y ago
I wonder if anyone has written software that takes Amazon Prime listings and copies them to eBay with a tiny markup then automates the payment transfer.
- sedachv 9y ago
  I do not know if it was automated, but two eBay sellers I purchased from were doing this with their Amazon Prime accounts - the items were shipped to my address by Amazon. I was upset because the reason I shop on eBay instead of Amazon is to purchase from independent resellers and vendors.
noonespecial 9y ago
It takes 2.5 weeks minimum to get the product from Taobao in the USA. The extra money is for getting it in 2 days. Also, remember that most of that "markup" is for shipping, Amazon fees, and taxes. You can't ship those items for less than $2 even with Amazon FBA (remember, with Prime its the seller whos paying for shipping, not magic Amazon elves). The Taobao guy paid $0.18 to ship the same from China (there's a long story about how that happened too). After paying all that, the guy selling that stuff for $6 probably made $0.40 on the deal. A steal indeed.