• umbrella@lemmy.ml
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      1 year ago

      This is exactly the problem I’m pointing out. When a single company is that powerful, they can buy their way into a monopoly/oligopoly. Then comes what is now called enshitification, for obvious reasons.

      One example: Uber destroyed the taxi coops in my country by having money and operating at a huge loss until they bought the market. The difference being drivers are now more exploited, making less money. Prices for consumers came right back to what they were in the age of taxis. They made themselves a new middleman, and everybody else lost.

      They distribute cash, in order to capture the market, to be able to exploit more as competition dwindles unfairly. They do it all the time and we should be againt it at all levels.