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Richard Wolf had a very good take on all of these Silicon Valley “disruptors”. It’s basically been the neoliberal US american MO for the past quarter century:
Step 1: get a bunch VC money by promising the moon
Step 2: “disrupt” by undercutting the established moon due to lack of regulation. Even though it’s an inferior product, it’s VC subsidised, so it’s cheaper than the established businesses.
Step 3: due to lack of regulation, your business drives established operators to bankruptcy. This is basically dumping but the regulation hasn’t caught up.
Step 4: become the monopoly and suck as much money as possible from your customers to generate “shareholder value”
American business practices summed up for pretty much my entire lifetime right here. No wonder we live in such a shit hole - society as a whole has mortgaged and undercut for an entire generation.
Richard Wolf had a very good take on all of these Silicon Valley “disruptors”. It’s basically been the neoliberal US american MO for the past quarter century:
Step 1: get a bunch VC money by promising the moon
Step 2: “disrupt” by undercutting the established moon due to lack of regulation. Even though it’s an inferior product, it’s VC subsidised, so it’s cheaper than the established businesses.
Step 3: due to lack of regulation, your business drives established operators to bankruptcy. This is basically dumping but the regulation hasn’t caught up.
Step 4: become the monopoly and suck as much money as possible from your customers to generate “shareholder value”
It’s almost like capitalism is an inherently broken system or something
American business practices summed up for pretty much my entire lifetime right here. No wonder we live in such a shit hole - society as a whole has mortgaged and undercut for an entire generation.