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“…they've been subsidised into market dominance … You have insanely large pools of capital creating an incredibly inefficient money-losing business model.”

The Silicon Valley model in a nutshell.

bbc.com/news/technology-527240

@aral I still can't believe this Silicon Valley strategy works, even though it obviously does. I wonder how this is legal 🤦

I mean, this strategy obviously doesn't work to make profit in the short term, but it definitely works for driving out competitors and becoming a monopoly.

@aral yeah, and if that looks horrible, just look at all the debt that fracking companies owe to wall Street and since the coronavirus situation most of them are on the verge of bankruptcy.

Everyone knew that those companies had trash bonds but banks and the federal reserve flooded the market with dollars and yeah...

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