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E64: Antitrust standards & enforcement, tech repricing, lab leak obfuscation, E63 reactions & more
All-In with Chamath, Jason, Sacks & Friedberg
The Problem Is That Google Shouldn't Have 40 % Epito Margins
There's a fundamental pillar of capitalism that says that excess returns must get competed away. In the absence of competition, we don't really know what the equilibrium return really looks like. And so if you allow all this stuff to aggregate, maybe google shouldn't have forty five percent epito margins. Maybe in a really competitive society they would only have 18 %. That's actually better, net net for the system. The problem is that, counter factual to your point, freebrik, its impossible to measure. How do you know, and how much value do you need to take away of the panoply of things that google does to figure that out? I think we're the problem
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