this post was submitted on 21 Aug 2023
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Exactly right! While I think companies like Uber and Netflix did price things like Taxis and Cable out of business unethically, I don't want to go back to those days. I remember having to try to catch a Taxi and waiting over an hour and a half in the cold. They would ask where I was going and just drive off. Cable was full of scummy tactics and slowly introduced ads until it was just basically paying to watch ads. I don't want to go back to that shit. But Uber and the like should have been honest about what the pricing structure would have been from the get go.
The business practices of Uber and Netflix are also unethical but in a different way. Uber pays basically nothing. Netflix as well as streaming pays very little to actors/writers/film crew.
Oh, for sure! Corporate greed exceeds new levels year on year! To think they raise interest rates to curb inflation, but then banks and most other companies are posting record profits without any social return is disgusting.
The term for this is Platform Capitalism
Pricing structure will be adjusted based on the market conditions. Applies to any company at any time.
Not the same situation. They purposely went low to price out the competition for years, accepting losses until the competition hopefully didn't exist or had everyone semi dependent on them. This is not a supply/demand situation or increase with inflation. This is creating market dependency until you can increase your cost to what you want it to be by obliterating competition.
That's just normal price dumping.