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How is Facebook an example of market failure?
by gbacon 9y ago
How is Facebook an example of market failure?
- icantdrive55 9y agoCustomers with money are ready, willing, and looking to jump ship. If I had money shorting, the stock would be on my "to do" list. And they brought it upon themselfs? Arrogance? Hubristic? Not respecting anyone? What did the little Capitalist say, 'The're stupid for trusting me.'? Then again, what do I know? I gave up trying to understand people a long time ago.
- jumpinalake 9y agoGood question. So anything orders of magnitude more popular than the competition is a failure?
- Bakary 9y agoI think the word is awkward sounding because it rests on the assumption that markets always lead to efficiency, and that the creation of a monopoly is therefore a bug
- dfee 9y agoI think that rests on your assumption. I know Peter Thiel argues in his book Zero to One that monopolies are end-game efficient.
- khedoros1 9y agoI think that the idea is that the market should've provided competent competition to Facebook, and it hasn't. Real competition would give people choices. This is different than saying that Facebook is a failure. As a business, they're obviously tremendously successful.
- phemartin 9y agoIs fb in the "too big to fail" category?