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Twitter accuses Meta of hiring former staff in cease-and-desist letter
(www.businessinsider.com)
this post was submitted on 07 Jul 2023
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Contrary to popular belief, there is nothing capitalists (not to be confused with the capitalism sycophant, self-hating peasants that don't hold significant capital and never will but call themselves capitalists) despise more than actual competition.
The goal of unchecked, unregulated capitalism is to end capitalism, ie competition.
That's why entire industries merge into a single entity to create a monopoly, as the regulators the oligarchs captured decades ago that were supposed to prevent such anticompetitive behaviors sit back passively with their rubber stamps.
People always call this a market failure while willfully ignoring that whenever markets are left unchecked, this is the inevitable outcome.
Due explicitly to market behavior unless regulated otherwise, exactly. Most people who build companies do so to make money. When you accumulate enough capital/power, it just becomes good business to use that power to cannibalize your competition if you're able.
What is good for modern business, profit exclusively, becomes explicitly detrimental to the society that provided the infrastructure and conditions for that business to succeed in the first place, which is why such behaviors need to be but are not prohibited.
At this point, our society exists to grow our beloved economy, when the reality is an economy is supposed to just be a lowly tool to better distribute goods and services for the benefit of society and it's citizens.
https://www.cnbc.com/2021/10/18/the-wealthiest-10percent-of-americans-own-a-record-89percent-of-all-us-stocks.html
Most stakeholders of American society, its citizens, are not meaningfully among the shareholders our society labors to benefit. The most maddening part are all the exploited Americans who would literally die defending the current system and their own exploitation and that of their family in the name of tradition/blind faith/sunk cost fallacy/the schadenfreude of "I suffered so you should too"/ etc.