capitalism
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- NBQ000
Here he is again
- raf0
People tend to think that capitalism leads to monopolies and those need to be dealt with with antitrust laws.
Monopolies are like empires. They cannot last. They either crumble under their own gravity or get swept off their position by new players. For every Goliath there comes a David.This is particularly visible in IT related businesses, new companies emerge from an idea and turn markets upside down.
Look ad Adobe and how Dreamweaver is getting dethroned by likes of Coda and Espresso. It's only a matter of time that new Photoshop will come out of someone's garage.Just look at how Microsoft's IE struggles with open source browsers like Firefox or Webkit.
What happened with monopolies in the old days, before antitrust institutions?
From http://en.wikipedia.org/wiki/U.S…
"J. P. Morgan and Elbert H. Gary founded U.S. Steel in 1901 (incorporated on February 25) by combining the steel operations owned by Andrew Carnegie with Gary's Federal Steel Company and several smaller companies for $492 million. It was capitalized at $1.4 billion, making it the world's first billion-dollar corporation. At one time, U.S. Steel was the largest steel producer and largest corporation in the world. In 1907 it bought one of its largest competitors Tennessee Coal, Iron and Railroad Company which was headquartered in Birmingham, Alabama. This led to the company being listed on the Dow Jones Industrial Average, doing so by taking the place of Tennessee Coal, Iron and Railroad Company. The federal government attempted to use federal antitrust laws to break up U.S. Steel in 1911, but that effort ultimately failed. Time and competitors have, however, accomplished nearly the same thing. In its first full year of operation, U. S. Steel made 67 percent of all the steel produced in the United States. It now produces less than 10 percent.The Corporation, as it was known on Wall Street, always distinguished itself to investors by virtue of its size, rather than for its efficiency or creativeness during its heyday. In 1901, it controlled two-thirds of steel production. Because of heavy debts taken on at the company's formation — Carnegie insisted on being paid in gold bonds for his stake — and fears of antitrust litigation, U. S. Steel moved cautiously. Competitors often innovated faster, especially Bethlehem Steel, run by U. S. Steel's former first president, Charles M. Schwab. U. S. Steel's share of the expanding market slipped to 50 percent by 1911."
Time, competition, innovation – these factors are enough to erode monopolies on a free market.
- Said by a guy who lives in a world with a 40 hour work week. Very brave.TheBlueOne
- NBQ000
I had no idea that in Dec 2008, John Malkovich lost his life savings to financier Madoff: https://www.asiaone.com/entertai…
- sofas0
Late stage.
Work for big company.
At team meeting reviewing 2017 we were told we are probably the best team when comparing work load.
Then we were told that for 2018 we will also be judged on moral, engagement and identifying with the companies vision.
In general the policy changes so often that it's impossible for most to keep up with it, including those who make it.
- utopian0
How Colleges and Sports-Betting Companies ‘Caesarized’ Campus Life
The New York Times recently uncovered that at least eight universities have partnered with online sports-betting companies, while at least a dozen athletic departments and booster clubs have signed agreements with brick-and-mortar casinos.
- grafician-2
"Trevor Milton, the billionaire founder of electric truck manufacturer Nikola, was hit with securities fraud charges from federal prosecutors in New York City on Thursday."
https://www.cnbc.com/2021/07/29/…
The man casually just posted $100,000,000 bail.
- grafician-1
"BREAKING: Wall Street Journal reports economists found 186 banks that could be prone to similar risks as Silicon Valley Bank"
- "BREAKING: UBS in talks to buy Credit Suisse"grafician
- A note: you can't have startups and basic old school banking. Also you can't have 10Y bonds vs. bank run liquidity needsgrafician
- Thiel called his buddies to withdraw = bank run = SVB fell. Many other banks need to liquidate long term bonds on a bank run
Mather of fact most of US banks...grafician - And no, this time the Fed can't QE out of it. Stay in cash and trade wisely, 50-100% gains on the table dailygrafician
- grafician-1
^
"Layoffs This Month (% of Workers):
1. Twitter: 50%
2. Cameo: 25%
3. Robinhood: 23%
4. Intel: 20%
5. Snapchat: 20%
6. Coinbase: 18%
7. Opendoor: 18%
8. Stripe: 14%
9. Lyft: 13%
10. Shopify: 10%
11. Meta: “Thousands”
12. Apple: Hiring Freeze
13. Amazon: Hiring Freeze"
- Capital is no longer cheap. The days of 0.01% interest is over. All the tech was inflated with cheap capital. Now things are being priced correctly.shapesalad
- Working hybrid with a MacBook Air playing ping pong and sipping an artisanal barista made latte are over. Time to get a real job, plumber or something.shapesalad
- utopian-1
This is how American Capitalism works!
U.S. Treasury to Lend $700 Million to Trucking Firm YRC Worldwide. Government will take a 29.6% equity stake in the company, Treasury ... Photo: YRC Worldwide Inc. By ... The Treasury said publicly traded YRC qualified for the loan under a ... WSJ explains where all that stimulus money is coming from.
- its not much new https://www.youtube.…deathboy
- but again not capitalism. its socialismdeathboy
- be interested around 14 min. but more so between rules of railroads and later truckingdeathboy
- at 17min might learn about beta blockers and FDAdeathboy
- sted0
- utopian-1
- how do they live in poverty? and why is that bad? If everyone lived a USA//West lifestyle the world would be in an even bigger environmental / inflationary messshapesalad
- grafician0
"The Billionaire Playbook: How Sports Owners Use Their Teams to Avoid Millions in Taxes"
- deathboy-1
or better for the video image