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MacNuggetts t1_jdqmzzj wrote

Well, This makes total sense. Part of late stage capitalism is having so many markets consolidated that there are only a handful of competitors in that market. The market isn't very competitive and so there's really nothing driving innovation.

A company like meta or alphabet just buys a company with a cool tech idea, and then never iterates on it. They don't have to. TikTok for example is doing so amazing that for the first time ever YouTube, and even Meta are having to compete with a company they can't just buy. So, they've been working to make their products better, and lobbying to get TikTok banned at the same time.

If successful, they'll go back to business as usual.

Break up these big fucking monopolies and make markets competitive again.

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PeteWenzel OP t1_jdqo1h0 wrote

This. Plus, the insane arbitrage these companies can exploit. Temu draws on the same highly efficient and optimized network of suppliers in China that Pinduoduo has spent close to a decade developing. They combine that with a limitless pool of Chinese developers and an office in Boston that handles the legal and marketing end of things in North America. And you have a recipe for runaway growth.

Amazon tried something similar with their cultivation of Chinese sellers on Amazon marketplace but Temu takes this to another level.

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