A Whittle Bit of Commentary with Chad Whittle
Below is a rush transcript (may contain errors):
In 1911 the Supreme Court ordered the Standard Oil Company to break up on antitrust grounds because Rockefeller’s company dominated the market. Late last week Amazon announced that its buying Whole Foods for almost $14 billion dollars, and after the deal was announced grocery store stock lost billions on market value because of the fear of the mighty Jeff Bezos. Online, almost 40% of all online shopping sales go to Amazon, and no surprise there, because Amazon Prime with the free two-day shipping plus access to Amazon music and video that comes with it is a great deal. Amazon is starting to have a hand in a lot of businesses beyond online shopping. It competes with Walmart, sales hardware, competes with shoe and clothing retailers, sales bandwidth and other web services, the list could go on and on. All of this adds up to one company having a lot of power and a lot of market share, which leads to the question is it time for the federal government to break up Amazon on antitrust grounds? Is the company just too big? Capitalism works best when there is competition and with Amazon controlling more and more of the market share in many areas, competition is becoming less and less. And that being said, if breaking up Amazon will hurt my free two day shipping or my Amazon video streaming, then we may just have to look the other way and let Jeff Bezos Rockefellar continue. I’m Chad Whittle on A Whittle Bit of Commentary.
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© 2017 Chad Whittle