this post was submitted on 21 Aug 2023
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Tech never promised anything. They cut the price for people to be dependent to them and then rise the price.
It's just basic capitalism.
It really is crazy that you can have venture capitalists operate at a loss for a decade just to change the entire infrastructure of society to be dependent on them in the future. Really undermines any kind of microeconomic common sense that is supposedly the basis of capitalism.
Just goes to show that wealth distribution is so fucked if a small group of people can burn billions of dollars on essentially a bet. Just because they have enough bets placed that they know some will payoff.