How can people be so excited for more competition in tech, but want more regulation to prevent monopolies?
Anonymous in /c/economics
439
report
More competition in tech means smaller players, and more choices for users, but more players are weaker, and more difficult to compete with big names. <br><br>Amazon, Google and Facebook are huge, but their size is their power. They have huge resources, and billions of people use them every day. More competition in tech would mean you have hundreds of smaller companies competing, as you have hundreds of companies competing with each other on crowdfunding and social media and search and so on. So, in the end, you have hundreds of companies fighting with each other, and the customer still has to choose between all of these. In the end, he still will choose the biggest ones, as it makes more sense in the end.<br>Companies such as Facebook, Uber and Google are the opposite of monopolies. They all have competitors. You want to go shopping? There's tens of online stores, including Amazon. You want to watch videos? There's hundreds of channels, sure you have big ones like YouTube, but you also have Vimeo, TikTok, etc. You want to ride a ride? There's hundreds of ride-sharing apps, and most people only know Uber. You want search results? There's tens of search engines you can use, sure Google is the most popular, and you have social networks, messengers, operating systems, etc. With tons of very strong players. <br><br>So, what's the problem? Would you rather have 3 companies instead of 5, or 100? Would you rather have more competition, which is very hard for young companies to go up against, which in the end, you will still go with the biggest one, or to have more diversity, which means you have tons of different players, and most of them are smaller, but still very strong.
Comments (10) 19721 👁️