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Back in the old days, if you were an entrepreneur that managed to make it big, and built yourself a nice giant successful business, you were on top of the world
But you’re ambitious – you want more – more money, more profits
But putting more money into R&D, into building a better product will only get you so far
You turn to selling your products for a loss, buying up your competitors, buying up other businesses in your product’s supply chain, and other monopolistic practices
With those pesky antitrust laws, that’s just not an option anymore, you might have to keep innovating to stay alive
Instead of working harder, providing a better service, and innovating to grow and stay afloat, we could have the government crush our competitors for us?
“Well gee, Jake. That sounds all good but how would anyone be okay with giving the government that much power to make the lives of big businesses easier?”
Instead of proclaiming to everyone our monopolistic intentions, we just say that it’s in the “public’s best interest”
We tell the world and congress that we need gov to protect consumers from greedy, unsafe businesses
While little do they know that we’re the greedy businesses we’re saying to protect them from.
We need to learn the game of crony capitalism
In 1998 Microsoft was the biggest company in the world, the most innovative companies in the world
Microsoft and Bill Gates thought that “business is going great, our customers love our products”
They spent zero dollars on lobbying or cronyism
When politicians kept seeing just how much money Microsoft was making Bill Gates is called into the Senate
And six months later, Microsoft got another knock on the door from the Justice Department
Microsoft was found guilty for giving away a product for free and spent the next nearly 10 years fighting that case, devoting time, resources, and lots of money to it
If you’re making money and you don’t pander to the politicians, they’ll come to your door, so why not profit from it too?
“No one hates capitalism more than capitalists”
The other big tech companies have learned from Microsoft’s mistakes and now take a more offensive approach
Amazon was facing a lot of bad press about their low minimum wage, so Jeff Bezos raised the minimum wage to $15 for all Amazon workers and announced that he’ll be lobbying Congress to increase the minimum wage
AKA, he’s gently bribing politicians to allow the government to force his competitors expenses up – Use gov to handcuff rivals
Mark Zuckerberg was also called into Congress, when asked if Facebook embraced regulations, he said yes as long as Facebook is allowed to help shape the regulations
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