Killing the competition: How the new monopolies are destroying open marketsâ€”By Barry C. Lynn (Harper's Magazine)
Eric Barker stashed this in Silicon Valley!
GREAT article, Eric!
I love this paragraph:
John D. Rockefeller, whose Standard Oil ruled the energy industry for decades, liked to present his predations as acts of altruism. â€śWe will take your burdens,â€ť he would tell his target. â€śWe will unite together and build a substantial structure on the basis of cooperation.â€ť But all understood perfectly the ultimatum hidden in the honeyed words: Join or be crushed.
Also this is deeply cynical and highly insightful:
No matter how adept Silicon Valley CEOs have become at corralling the men and women who actually make what they sell, they are still relative beginners when it comes to manipulating fear for profit.
And here's a great history lesson:
The backstory in brewing is much the same as in Silicon Valley. In 1978, the production of beer in America was divided among forty-three firms, with the biggest controlling only a quarter of the market. Today, more than 1,750 companies make beer in this country. But ABI and MillerCoors have locked down more than 90 percent of the U.S. market. This gives them the power to jack up prices almost at will. More important, it gives this cadre of capitalists the ability to decide which American craft brewers thrive and which donâ€™t.
Pablo Escobar and John Rockefeller would have gotten along:
He had an effective, inescapable policy in dealing with law enforcement and the government, referred to as "plata o plomo," (literally silver or lead, colloquially [accept] money or [face] bullets).
They would have gotten along except for one thing.
Rockefeller always thought about his legacy.
Escobar just thought about optimizing his life.