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Because they’re no longer competing. They wield monopoly power that is anticompetitive, and it’s bad for everything else you value. (Assuming you value more tha

Because they’re no longer competing. They wield monopoly power that is anticompetitive, and it’s bad for everything else you value. (Assuming you value more than streaming media, two retailers, and ads.)

whimsicalism 5y ago
They have monopoly power in the tech labor market? How so?
- relaxing 5y ago
  Isn’t the collective wisdom around here that there’s no competing with FAANG when it comes to job offers? And we know they’ve engaged in anticompetitive behavior among themselves when it comes to recruiting. I would be unsurprised to find out it still takes place. But I think the point was monopoly power from their core products is the real issue, and that enables the astronomical salaries.
  - resueman 5y ago
    The point of anticompetitve behavior in the hiring market is to be able to pay less to get people. The fact that they pay the highest prices for people means they sure suck at it.
    - relaxing 5y ago
      You don’t know the highest possible price.