Big companies do make big blunders, but there are forces at work in those upper echelons of the business world beyond market economics. I’m no sure the exact amount, but it seems that once someone or some group has accumulated over a certain amount of money, it takes consistent, sustained catastrophic mistakes to ever drop below that amount, like a sort of critical mass.
Companies that big don’t obey the same economic laws you and I do, and often don’t obey many laws at all for that matter, and they don’t often fail mainly because the system was set up by them in a way where they can’t fail, regardless of how monumentally they screw up.
When they do, their customers flee to one of their 3 competitors who are all run by guys that play golf together and collude, then later one of those companies does a big screw-up, the customers flee back to the first one.
Big companies do make big blunders, but there are forces at work in those upper echelons of the business world beyond market economics. I’m no sure the exact amount, but it seems that once someone or some group has accumulated over a certain amount of money, it takes consistent, sustained catastrophic mistakes to ever drop below that amount, like a sort of critical mass.
Companies that big don’t obey the same economic laws you and I do, and often don’t obey many laws at all for that matter, and they don’t often fail mainly because the system was set up by them in a way where they can’t fail, regardless of how monumentally they screw up.
When they do, their customers flee to one of their 3 competitors who are all run by guys that play golf together and collude, then later one of those companies does a big screw-up, the customers flee back to the first one.