Capitalism results in race-to-the-bottom behavior because in the short term it's always possible to increase profits by doing something that harms product quality, business sustainability, the environment, and/or the workforce; and in the long term, we're all dead anyway.
Reposted from
Kellum Dander
The idea that businesses exist to help customers and earn profit as a byproduct died in the 1980s. Business Week ran an article called The Hollow Corporation in 1986 in which they describe the systemic gutting of sustainably competitive businesses.
Vulture capital is simply the end-state.
Vulture capital is simply the end-state.
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This was of course always possible but the internet made connecting far-flung buyers and sellers far easier than ever before.