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I think your argument is missing GP's point entirely. The point was that a functioning market economy would evolve so that companies that sell products or servi
by carschno 4y ago
I think your argument is missing GP's point entirely. The point was that a functioning market economy would evolve so that companies that sell products or services at a self-sustaining price survive, whereas companies that lose money continuously die. However, this is clearly not the case, given that companies like Uber, as you mention, do survive without being profitable at all. Competitors that are not backed by near-infinite money cannot survive this competition, regardless of their product or efficiency.
Whether or not a functioning market economy could ever exist in reality if of course another question.
- sokoloff 4y agoI don't know that Uber turning a mere 14 years old is proof that the market economy isn't functioning. In a time of incredibly low interest rates and the resulting free-flowing money sloshing around looking for any possible return, I'd expect a lot of companies to reach their teens without that being proof that they can continue indefinitely without showing profits and returns to investors.
- deleted 4y ago[deleted]