You must not be familiar with much of the backend. Bezos undercut smal businesses that sold on his platform until they were forced to sell to him, forced them to eat the losses while Amazon took the profits, and took advantage of multiple tax credit opportunities where cities paid them to build warehouses using public funds.
All cities offer breaks to lure businesses to their area. They certainly weren’t the first to do so and I’m sure you’ve seen your share of big names before they existed. Like Coca-Cola. Do you think they weren’t given a break?
They sold on Amazon for exposure to their customer base. I wouldn’t have done it. For the reasons cited and others. Most founders aren’t CEOs and have a habit of looking on the bright side and get excited about partnerships and related mistakes by novices. They’re thirsty and more trusting than I would be in similar circumstances. It’s easier to acquire something running well than build it from scratch. The best solution is avoidance.
I’ve seen similar behavior in fashion. They didn‘t want designers eliminating the middle man (stores) and selling directly online. They tried to gaslight them and threw a combo of shade and shame as well. But you have to look beyond that and consider the consequences of those alliances. The only one who benefitted was the store because of the buybacks.
You have to do your homework and it helps to have knowledgeable people around you who know the industry, the players and their reputation too. The acquisition model has been underway for a while. I don’t support illegal practices but if you dance with a shark you may get swallowed.
If I had that power, I'd certainly be open to it. I do believe there should be an upper limit(as a percentage of the median) for personal wealth.
You can’t cap someone’s talent. Some people are better at making money than others and if we’re honest the majority have no interest in doing the same or making the sacrifices to get there. As much as people like to argue this issue that’s really the linchpin. I’ve seen a lot of people starting out with ideas and enthusiasm. Within six months half will quit and only a tenth will remain in a year and that’s probably generous.
If you think that isn’t so look at YouTube. Most Americans have a device in their pocket that takes pictures and records videos. What percentage of them have created a channel to earn more income out of the whole? And the person you’re watching that’s monetized is probably making six figures by doing so. Based on their ad revenue, sponsorships and affiliate income. And if they have a product to sell the number may be higher. The majority could do the same but they don’t.
And our spending habits differ too. I put my money towards tools that enhance my knowledge and proficiency. I’m being instructed by an expert everyday and gaining access to others in related fields. The knowledge can be utilized for products and profits. That’s why we have a gap. We don’t need to look at billionaires. We can talk about ordinary people instead.
If your output is greater than your peers you’ll exceed them. That’s the advantage. One person is willing to do what another won’t. Five percent of the population sets goals every year. Only three percent accomplish them. What do you expect when that’s the case? It’s a recipe for inequality.
~bella