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> Company A is 6 days away from going out of business. They will shut their doors. All employees will lose their jobs. All customers will lose access to whateve
by autoexec 3y ago
> Company A is 6 days away from going out of business. They will shut their doors. All employees will lose their jobs. All customers will lose access to whatever Company A does that they find helpful.
If Company A was providing a service that people found helpful, someone else who is more competent at running a business will step in to fill that need. Employees will flock to the new better run business or move to some other better run business.
When new companies have to step up to provide popular goods and services that were previously being provided by failing, poorly run companies, it results in innovations and new ways of doing things instead of just letting bloated industry giants continue to be propped up artificially by restricting consumer choice.
Having more players in a market also increases resiliency and improves stability. If one company runs into problems, the others in that space can pick up the slack. No more "Too Big to Fail".