Why the internet is getting worse
Front Burner
00:00
The Collective Action Problem
The company hooks in the customer. Basically takes a loss to make the product extremely attractive, locking them in for quite a while. Step two, they lock in the suppliers. And finally, in step three, they squeeze both of them. The customer and the supplier for profit and for the benefit of the company or its shareholders. I want to ask you for another example. Let's take a platform like Facebook. What happened with Facebook? Yeah, sure.
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