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> But this comment will get downvoted because it goes against the narrative that the reason you don't own a yacht is because Bill Gates and the Billionaires are
by CPLX 4y ago
> But this comment will get downvoted because it goes against the narrative that the reason you don't own a yacht is because Bill Gates and the Billionaires are taking all your money
That narrative, edited to its actual substantive form, is clearly and obviously true, and that's why it's continuing to grow as a political force.
The reality is that we stopped regulating corporate power, market domination, antitrust, and anti-competitive behavior about two generations ago.
As a result, an increasingly dominant group of conglomerate companies are extracting rents and profits from every tiny corner of the internet. This manifests in things like the cost of insulin, rents being set by market collusion tools, rising fares and abysmal service as the number of major airlines is cut in half, concert tickets, and so on.
But not just the obvious stuff, it's everywhere. There are monopolies leading to looting, poor service, and rent extraction in cheerleading leagues, pet hospitals, church software, hearing aids, portable toilets, and like everything else. Since this is a software focused crowd look up "Thoma Bravo" and familiarize yourself with the Solarwinds disaster. Learn about the role of private equity in the recent Lastpass debacle.
And yes, the extracted profits from all this are accumulating with the billionaire and 100+ millionaire class. It's not a secret, it's obvious to basically any normal person trying to lead a normal life and people are mad about it.
- onlyrealcuzzo 4y ago> This manifests in things like the cost of insulin, Insulin is capped at $35 for a 30-day supply starting 2023 (very soon). > rents being set by market collusion tools, This is relatively new, and the DoJ is already investing RealPage. Time will tell what happens. The reality is - renters have always been seen as second class citizens in the US - nothing is new here in the last two generations. > rising fares and abysmal service as the number of major airlines is cut in half, Airline tickets adjusted for inflation and gas prices are cheaper than ever. You get what you pay for. > concert tickets, These are one of the few things that went down in price recently...