Don’t forget the extra charges and price increases along the way which fund the tech billionaires who own these apps.
Previously we had Capitalism (and that already wasn’t great). Where a buyer and a seller met and then freely determined the price transaction.
Now via many of these market place apps (ebay, Amazon, AliExpress) we have markets where a third party (the platforms owner) can algorithmically control who sees what prices, and when, acting as a means to promote whatever prices benefit the platforms profitability the most.
That’s why the VC tech guru “disruptors” business model is often to run at a massive loss for years then basically owning a whole market.
Don’t forget the extra charges and price increases along the way which fund the tech billionaires who own these apps.
Previously we had Capitalism (and that already wasn’t great). Where a buyer and a seller met and then freely determined the price transaction.
Now via many of these market place apps (ebay, Amazon, AliExpress) we have markets where a third party (the platforms owner) can algorithmically control who sees what prices, and when, acting as a means to promote whatever prices benefit the platforms profitability the most.
That’s why the VC tech guru “disruptors” business model is often to run at a massive loss for years then basically owning a whole market.
This new system is called Techno-Feudalism.