Yes - because "additional regulatory burdens" aren't the answer... breakups are.
Somehow we've settled into a spot where it's acceptable to have incredibly powerful monopoly/duopoly structures in American culture, sometimes with a "third wheel" of a small scattering of options to make it appear as though there's competition. Usually, the terms these companies operate under are substantially "the same" from a consumer point of view (whole related can of worms there - see: "tyranny of contract - starting with Engels and leading to Kreitner")
Want a computer? Choose: Microsoft or Apple.
Want a phone? Choose: Apple or Google.
Want to advertise? Choose: Google.
Want a credit card? Choose: Visa or Mastercard (third wheel: Discover/Amex)
Want a browser? Choose: Google (third wheel: Firefox/Safari/Edge)
Want a grocery store? Choose: Walmart or Kroger.
Want internet? Choose: ATT or Comcast.
Want to watch TV? Choose: Comcast or Disney (third wheel: Fox/Paramount/WB)
Want to stream a show? Choose: Disney or Paramount (third wheel: Amazon/Netflix)
Want to bank? Choose: JPMorgan Chase or Bank of America (lots of third wheels still, but they hold more than the next 6 combined in assets)
Want a political party? Choose: Republican or Democrat.
Want to sell a good online? Choose: Walmart or Amazon.
Want to do home improvements? Choose: Home Depot or Lowes.
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It's not about regulatory burden, its about a clear failure to provide competition by allowing a small number of dominate players to functionally own a market.
They're just competitive enough to shut down any real competition (by undercutting them via scale, cash-on-hand, and monopoly effects) but the impact is short-lived.
And I partly blame our response in 2008 - we appear to have decided that it entirely ok to be "too big to fail" and that's an acceptable state of the country.
And it's definitely "efficient" (in some respects - much like cancer is incredibly efficient at replicating and capturing resources) but I don't think it's particularly healthy for society. A very small number of folks are sucking up more and more wealth via a set of largely entrenched conglomerates. Meanwhile - any feedback mechanism or regulation that might stop that siphoning has been knocked away.
It feels like we had a nice breeze for a bit, but we're headed directly back to the "Robber Baron" age.
Somehow we've settled into a spot where it's acceptable to have incredibly powerful monopoly/duopoly structures in American culture, sometimes with a "third wheel" of a small scattering of options to make it appear as though there's competition. Usually, the terms these companies operate under are substantially "the same" from a consumer point of view (whole related can of worms there - see: "tyranny of contract - starting with Engels and leading to Kreitner")
Want a computer? Choose: Microsoft or Apple.
Want a phone? Choose: Apple or Google.
Want to advertise? Choose: Google.
Want a credit card? Choose: Visa or Mastercard (third wheel: Discover/Amex)
Want a browser? Choose: Google (third wheel: Firefox/Safari/Edge)
Want a grocery store? Choose: Walmart or Kroger.
Want internet? Choose: ATT or Comcast.
Want to watch TV? Choose: Comcast or Disney (third wheel: Fox/Paramount/WB)
Want to stream a show? Choose: Disney or Paramount (third wheel: Amazon/Netflix)
Want to bank? Choose: JPMorgan Chase or Bank of America (lots of third wheels still, but they hold more than the next 6 combined in assets)
Want a political party? Choose: Republican or Democrat.
Want to sell a good online? Choose: Walmart or Amazon.
Want to do home improvements? Choose: Home Depot or Lowes.
---
It's not about regulatory burden, its about a clear failure to provide competition by allowing a small number of dominate players to functionally own a market.
They're just competitive enough to shut down any real competition (by undercutting them via scale, cash-on-hand, and monopoly effects) but the impact is short-lived.
And I partly blame our response in 2008 - we appear to have decided that it entirely ok to be "too big to fail" and that's an acceptable state of the country.
And it's definitely "efficient" (in some respects - much like cancer is incredibly efficient at replicating and capturing resources) but I don't think it's particularly healthy for society. A very small number of folks are sucking up more and more wealth via a set of largely entrenched conglomerates. Meanwhile - any feedback mechanism or regulation that might stop that siphoning has been knocked away.
It feels like we had a nice breeze for a bit, but we're headed directly back to the "Robber Baron" age.