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You make it seem like it's desirable to have monopolies. I think the EU disagrees. The lack of FAANG type companies is indicative of a healthy economy and socie

by mnm1 7y ago

You make it seem like it's desirable to have monopolies. I think the EU disagrees. The lack of FAANG type companies is indicative of a healthy economy and society. The fact that they exist in the US is indicative of the opposite. Of course, if one is ingrained in US culture and its propaganda, it's easy to see how one could value monopolies over a healthy economy. Most people outside the US, however, have no delusions of becoming a billionaire (or even a millionaire), of monopolies being positive for society, or of the massive inequality created by such monopolies being positive for society. Don't get me wrong. Monopolies still exist outside the US. They are just not as fetishized by the masses everywhere as they are here.

yostrovs 7y ago
Nobody fetishises monopolies in the US. Some naturally come about, such as Facebook, and they naturally come about much easier and faster in the United States than in Europe. So they become world monopolies. If there wouldn't be competition from the US, there would have been a European Facebook, Google, etc., just not as inventive and bold, and a few years later.
- mnm1 7y ago
  That's hilarious. I love how confident you are that a European equivalent of fb, Google, etc. would not be as inventive or bold. That's cool, but let's not pretend like it's a fact. As to your other point, I'm not sure how else to describe it. Not only do we fetishize monopolies and other large, dominating corporations, we fetishize their CEOs like Jobs, Gates, Bezos, Musk etc. We encourage our kids to see them as role models. We bend over backwards legally to increase profits for such entities and their CEOs to the detriment of millions of Americans. The pursuit of monopoly is the only business strategy that can even be discussed, let alone contemplated. I think fetishize is too weak of a word here, actually. Worship is a better term.
  - yostrovs 7y ago
    1. I'm glad you find it funny, but the reality speaks for itself. 2. Americans do tend to respect very wealthy people, like Musk. But Musk, for examine, is not a monopolist. You're just lumping all rich people with monopolists. Warren Buffet is also admired. What does he monopolize?

by mnm1 7y ago

yostrovs 7y ago

Nobody fetishises monopolies in the US. Some naturally come about, such as Facebook, and they naturally come about much easier and faster in the United States than in Europe. So they become world monopolies. If there wouldn't be competition from the US, there would have been a European Facebook, Google, etc., just not as inventive and bold, and a few years later.

mnm1 7y ago
That's hilarious. I love how confident you are that a European equivalent of fb, Google, etc. would not be as inventive or bold. That's cool, but let's not pretend like it's a fact. As to your other point, I'm not sure how else to describe it. Not only do we fetishize monopolies and other large, dominating corporations, we fetishize their CEOs like Jobs, Gates, Bezos, Musk etc. We encourage our kids to see them as role models. We bend over backwards legally to increase profits for such entities and their CEOs to the detriment of millions of Americans. The pursuit of monopoly is the only business strategy that can even be discussed, let alone contemplated. I think fetishize is too weak of a word here, actually. Worship is a better term.
- yostrovs 7y ago
  1. I'm glad you find it funny, but the reality speaks for itself. 2. Americans do tend to respect very wealthy people, like Musk. But Musk, for examine, is not a monopolist. You're just lumping all rich people with monopolists. Warren Buffet is also admired. What does he monopolize?