Robert Reich
Amazon has begun its takeover of the supermarket industry. Two big announcements have sent the shares of other grocery chains into a $12 billion slide.
1) Amazon will cut prices on some Whole Foods goods. This is nothing new. The tech giant routinely cuts prices on popular items to make it appears as though they offer lower prices across the board.
2) Amazon Prime customers will have special access to Whole Foods deals. This is the announcement to watch.
60 million people are Prime subscribers. This massive network will allow them to blow their competitors out of the water. Within 10 years they'll all be gone, expect maybe Wal-Mart, who has recently partnered with Google to challenge Amazon for control of the market.
Amazon's dominance will hurt consumers. Incredible market power will allow the company to raise prices and squash any potential newcomers. Their dominance will also give them increased power over the political system. We see similar mergers by other tech giants. They could very well gain an unprecedented grip over our economy and politics, unless we rein them in.
What do you think?
Source
https://www.facebook.com/RBReich/?hc_ref=ARTgYbkX0rDxrMr4mvoGq0l4v7qhCQsnwCXwMGK_hRBq3V4WIc93o-ctJ-QwbhL6FCw&fref=nf
This blog will focus on political images I have found all around the Internet, though I will intersperse some commentary and quotes that I find interesting.
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