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Others are free to disagree with this, but I believe corporations being so large and so profitable that they have no choice but to enter multiple markets, or to
by mtgx 9y ago
Others are free to disagree with this, but I believe corporations being so large and so profitable that they have no choice but to enter multiple markets, or to do increasingly more ethically questionable things in order to keep increasing the quarterly profits and revenues, is all because of a weak anti-trust system and weak anti-trust legislation.
Companies should not be allowed to grow so large and so powerful that they can threaten multiple industries at once. I'm not necessarily saying they should be broken up as soon as they pass say $50 a year billion a year in revenues, but at the very least they should be disallowed from buying any other company as soon as they pass a similar mark or as soon as certain conditions for it being in "anti-trust mode" are met.
How are we going to have real competition in say AI, if Google keeps buying all the promising startups that come up with breakthrough AI technologies? Same for Facebook buying Instagram and WhatsApp. And now Amazon is doing the same thing.
The only answer to that right now is "maybe we're lucky and some other large corporation will buy that startup instead?" But that doesn't make me feel much better.
In the end, it all leads to at least an oligopoly across multiple industries, and a monopoly in specific industries. That's not good for consumers.
And I won't even go into how this much power and money concentrated into singular entities is bad for democracies, too. Even if you don't believe that these rich people and companies are literally buying the politicians and their votes, at the very least you should agree that they have disproportionate leverage in the government, for the same reason big banks do.
A more decentralized marketplace made-up of many more smaller companies is much better for consumers and democracies, too.