Prof G Markets OpenAI’s Exodus, the Rise of Palantir, and the Longshoremen’s Strike
28 snips
Sep 30, 2024 The discussion kicks off with an antitrust lawsuit against Visa and Meta's new AR glasses, revealing the ever-evolving tech landscape. Palantir's high valuation sparks debate on consumer allure and advice on stock options. Insights into OpenAI's executive shake-up highlight the shift from non-profit ethos to profit-driven ambitions. Finally, the potential longshoremen's strike emerges as a looming economic threat, with impacts on GDP and supply chains that could resonate widely during peak seasons.
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Government Influence
- Successful and wealthy individuals often become close to government officials.
- This can lead to stifling innovation and anti-competitive practices.
Visa's Market Dominance
- Visa dominates debit card processing, controlling 60% of the market.
- Their partnerships with financial institutions block competitors like PayPal and Apple.
Monopoly vs. Utility
- Monopolies aren't inherently illegal, as sometimes a single provider is most efficient.
- However, retailers feel pressured to accept Visa, giving Visa excessive pricing power.