2 ms·
Bravo, right on. Historically big cos use government to keep smaller competitors out. Just look at internet businesses. They are fairly unregulated and while
by pelle 18y ago
Bravo, right on.
Historically big cos use government to keep smaller competitors out.
Just look at internet businesses. They are fairly unregulated and while there are short term market leaders, these are constantly being challenged and eventually replaced by smaller more innovative competitors (90's .com vs. Google vs. yc)
Look at regulated businesses such as banking, auto and telecoms. These are examples where the bigcos itself has lobbied in most of the regulation. They have grown bigger and bigger and are now so big that "they can't fail" even though they actually did.
A truly free market (as libertarians believe we should have) in banking, auto and telecoms would have killed off citibank, gm and att years ago just as Excite, Netscape, AltaVista and others were in our business.