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Monday, September 15, 2014

Confessions of a Monopolist

Peter Thiel of Paypay offers this in the WSJ:  good businesses have to be monopolies and escape competition.  Competition is for Losers  No doubt this is good for business!  But what about for the rest of us?  He uses Google as an example: but what does Google do for me that other search engines don't?  I going to start using Bing now, just out of spite. 

The muckraking book from 100 years ago that revealed the monopolist mentality was Frederick Howe's Confessions of a Monopolist. See this piece Confessions .  I remember one of Howe's key points: monopolists get the society to work for them.   That is, the public needs to accept and embrace the essential goodness of the monopolists having no competition! 
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