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I think the tech world's use of the word "commodity" is interesting. "becoming a commodity" really means "fail to establish a monopoly".
by Old_Thrashbarg 8y ago
I think the tech world's use of the word "commodity" is interesting. "becoming a commodity" really means "fail to establish a monopoly".
- hopler 8y agoThat's what commodity means in economics, up to the level of precision implied by your statement. www.investopedia.com/terms/c/commodity.asp
- Old_Thrashbarg 8y agoI think most people understand commodity as things like: iron ore, sugar, rice, chemicals, raw materials. For example, take a Toyota Prius. Most people would not think of that as a commodity. It also is not a monopoly. If Toyota Prius where a software tech startup, they would be bemoaning the fact that they have become a "commodity" (read: it's become a competitive market where consumers have choice between differentiated goods).