“To most consumers, Prime looks like a lovely convenience offering free shipping, and it’s hard to find better prices elsewhere. But the reason you can’t find better prices isn’t because Amazon sells stuff cheap, but because it forces everyone else to sell stuff at higher prices.”
“In 2001, a senior Boeing engineer named L. Hart Smith published a paper criticizing the business strategy behind offshoring production, noting that vital engineering tasks were being done in ways that seemed less costly but would end up destroying the company.”
“Endless money-losing is a variant of counterfeiting, and counterfeiting has dangerous economic consequences. … Competitors have to copy their fraudulent competitors. It’s a variant of Gresham’s Law, which says that ‘bad money drives out good’.”