5 ms·

This company will continue running roughshod upon society until governments do something about it. They are too big to fail. Competitors just get bought up. Uns

This company will continue running roughshod upon society until governments do something about it. They are too big to fail. Competitors just get bought up. Unsurprising that boomer media can't comprehend this.

Clubber 5y ago
"boomer media can't comprehend this" Believing news is on the side of the citizenry is like believing HR is on the side of the employee.
- Joker_vD 5y ago
  What, and the corporations don't exist first and foremost to benefit their customers? Have I been lied to my whole life?
  - deleted 5y ago
    [deleted]
  - Clubber 5y ago
    Well over the decades the value proposition has changed. In the case of manufacturing, the proposition was you give us money, we give you a quality, well built product that will last a long time. Also, we would recirculate some of that money back to the economy in the form of wages paid to US workers. Now it's you give us money, we'll continue to figure out how to make it cheaper and it's ok if the quality slips because it's for our benefit of course, and we'll spend all our labor overseas.
mypastself 5y ago
I can see the adoption of AWS and related services potentially making Amazon so indispensable to the world's governments and banks that its failure might result in disaster, but I don't think any of Facebook's services qualifies. Unless you're referring to general financial consequences that the failure of any successful company might bring, but that doesn't really make it "too big to fail".
- JohnWhigham 5y ago
  I mentioned it in my post. Facebook has a near-monopoly on social media networks. If a new one comes up, they'll just buy it. Obvious outlier is Tiktok right now, remains to be seen what happens with them though.
  - mypastself 5y ago
    That still doesn’t make it “too big to fail”, which is a specific phrase referring to organizations whose failure might have disastrous financial consequences. Their recent outage resulted in some monetary losses, but it didn’t crash the dollar.

Clubber 5y ago

"boomer media can't comprehend this" Believing news is on the side of the citizenry is like believing HR is on the side of the employee.

Joker_vD 5y ago
What, and the corporations don't exist first and foremost to benefit their customers? Have I been lied to my whole life?
- deleted 5y ago
  [deleted]
- Clubber 5y ago
  Well over the decades the value proposition has changed. In the case of manufacturing, the proposition was you give us money, we give you a quality, well built product that will last a long time. Also, we would recirculate some of that money back to the economy in the form of wages paid to US workers. Now it's you give us money, we'll continue to figure out how to make it cheaper and it's ok if the quality slips because it's for our benefit of course, and we'll spend all our labor overseas.

mypastself 5y ago

I can see the adoption of AWS and related services potentially making Amazon so indispensable to the world's governments and banks that its failure might result in disaster, but I don't think any of Facebook's services qualifies. Unless you're referring to general financial consequences that the failure of any successful company might bring, but that doesn't really make it "too big to fail".

JohnWhigham 5y ago
I mentioned it in my post. Facebook has a near-monopoly on social media networks. If a new one comes up, they'll just buy it. Obvious outlier is Tiktok right now, remains to be seen what happens with them though.
- mypastself 5y ago
  That still doesn’t make it “too big to fail”, which is a specific phrase referring to organizations whose failure might have disastrous financial consequences. Their recent outage resulted in some monetary losses, but it didn’t crash the dollar.