3 ms·
> Billionaires getting richer doesn't normally impact your ability to get richer. I believe this is not true for multiple reasons. First - regulatory capture.
by RestlessMind 6y ago
> Billionaires getting richer doesn't normally impact your ability to get richer.
I believe this is not true for multiple reasons.
First - regulatory capture. Once a sector of economy generates a handful of billionaires, legal / regulatory barriers go up which make it much harder for startups to compete.
Second - competitive barriers. Google can acquire all the search channels (eg. paying Apple and Mozilla billions of $$$ to be the default search engine on iOS / Firefox).
Third - price undercutting by subsidizing a subset of the incumbent's product portfolio by profits from other parts of the business. See: Amazon vs diapers.com.
So yes, the game is definitely rigged in favor of billionaires.