Amazon and Walmart have raked in billions in additional profits during the pandemic, and shared almost none of it with their workers

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[–]One_Jack_Move 8 insightful - 2 fun8 insightful - 1 fun9 insightful - 2 fun -  (19 children)

Monopolies that need to be reigned in or split up.

[–][deleted]  (18 children)

[deleted]

    [–]JasonCarswell 8 insightful - 2 fun8 insightful - 1 fun9 insightful - 2 fun -  (7 children)

    Like Applebees, Arbys, IHOP, KFC, Pizza Hut, Quiznos, Taco Bell, and Hooters are competitors - all owned by PepsiCo.

    They're both part of the monopolistic corporatocracy. From millions of choices we're down to 20 large corporations. Soon enough they'll merge or just keep pretending to offer you a choice, like the (s)elections. Regardless, the ruling class who own and control most of the corporate markets and stocks are the same people. They even sit on each other's boards.

    [–][deleted] 5 insightful - 2 fun5 insightful - 1 fun6 insightful - 2 fun -  (2 children)

    I find it funny that all these restaurants are owned by a company that literally sells soft drinks; it seems backwards.

    But, yeah, it's well past time to break up PepsiCo, partially because I want Dr. Pepper at Taco Bell and Pizza Hut, but also because they have too large of a market share, and control more than one part of the supply chain — which makes them not a monopoly, but a monopsony.

    Well, they're technically an oligopsony, but I think I've already said way too many obscure words today.

    [–]JasonCarswell 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (1 child)

    Sugar water is almost as bad as snake oil.

    Soft drink actual cost: $0.03
    Soft drink price charged: $1.50

    * Guesstimated

    I'd also like to see Dr. Pepper, root beer, creme soda, etc AND their diet counterparts available everywhere. Actually, I'd like to see more diversity like microbrewery kind of things like Jones Sodas (using real sugar cane instead of corn syrup) - as well as natural diet options.

    [–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

    They could literally sell cans of soda for a Nickle and make a profit. They have to pay overhead, and taxes, but there's no good reason they should mark-up five-thousand percent — they make more than enough profit.

    [–]deleted 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (1 child)

    That's funny cuz I don't remember there being a single time where I enjoyed any of those restaurant's food.

    [–]JasonCarswell 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

    My experience in most of them is very limited or nill.

    [–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

    Excellent point, and I'd argue that Amazon and Walmart are monopolies, when one considers the percentages of the demographics they reach and control.

    [–]JasonCarswell 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

    Agreed.

    Ever wonder how/why Walmart came to prominence over all the other similar stores?

    In the 1980s the TV would have you believe the majority of the cocaine was coming in via Miami Vice, meanwhile in Mena, Arkansas countless banks were springing up to launder money. Not just banks but very select corporations dramatically rose out of Arkansas in that era, under Governor Clinton, soon to be president. Not because of the genius of the corporation's leadership, as they'd have us believe, but because they were corrupt as fuuuuuuuuck.

    [–][deleted] 4 insightful - 4 fun4 insightful - 3 fun5 insightful - 4 fun -  (5 children)

    True, no one has to shop there, and I never would. But people don't need to work there either! Why do they? Why do they watch TV all night, why do they Que up for a vaccination shot? Why do they put $10k on a CC for furniture and trips to Disney land? Double their wages and what have you got? Double the beer sales in that area, double the traffic to Disney land, and double the sales of junk ikea furniture.

    [–][deleted] 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (4 children)

    You do have to shop at Walmart or Amazon to get a lot of things, especially in rural areas for the former. Furthermore, working at Walmart is often the only option for some people, because there are no other low skill jobs available — keep in mind: people have to make money to eat, and they have to eat to not die.

    [–][deleted] 2 insightful - 4 fun2 insightful - 3 fun3 insightful - 4 fun -  (1 child)

    OMG I didn't know that! So What came first, the chicken or the egg, Amazon or food and life on earth?

    [–]JasonCarswell 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

    The crazy thing since Amazon started was how much it was a huge money looser in the 2000s yet its stock kept climbing. Investors knew something the rest of us did not.

    [–]JasonCarswell 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (1 child)

    Truth.

    I've avoided Walmart as best I can all my life, but there have been times when it was my last resort. I've been poor for the last dozen years now (initially by circumstance, lately by choice) and I've only avoided Walmart because my local Canadian No Frills store has better prices and is only a couple miles walk away.

    [–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

    We ain't got a Walmart in my town, so the default option is to buy local, but since I live in a rural area: local stores ain't got that much — and they tend to run out of stuff every time the economy has even a minor downturn.

    [–][deleted] 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (0 children)

    Amazon operates online, white Walmart operates largely offline — but ignoring that, the correct term would be duopoly or oligopoly, with the former referring specifically to two entities.

    [–]Clbull 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (1 child)

    Oligopolies then. They're still massive companies that screw over their own workers and smaller competition.

    [–]JasonCarswell 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

    Oligopolies

    GREAT WORD! I need to use it more.

    " An oligopoly (ολιγοπώλιο) (Greek: ὀλίγοι πωλητές "few authorities") is a market form wherein a market or industry is dominated by a small group of large sellers (oligopolists). Oligopolies can result from various forms of collusion that reduce market competition which then typically leads to higher prices for consumers. Oligopolies have their own market structure. "

    ~ https://en.wikipedia.org/wiki/Oligopoly

    /s/Terminology/comments/72xf/oligopoly_a_market_form_wherein_a_market_or/

    [–]ReeferMadness 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

    LOL, good one.