Re:AT&T lied about everything it promised to do if it got a ...
by altacc on Thursday January 30, 2020 @01:03PM
(#22193573)
Almost all companies' overwhelming priority is to increase the wealth of their owners and shareholders. That is often diametrically opposed to benefiting customers. Unfortunately too many people have only attended Economics 101, which insists that the way for a company to be successful is to be the best for the market. Economics 101 fails to be evidence based, or realise that the dominant market is not a company's customers, it's the company ownership.
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Re:AT&T lied about everything it promised to do if it got a ...
by smsm42 on Thursday January 30, 2020 @03:24PM
(#22195128)
> Economics 101, which insists that the way for a company to be successful is to be the best for the market
No it doesn't. I don't know which Economic 101 you had, but you may want to ask for a refund on the money you paid for it. Economics says nothing of the sort. For a company to be successful, its services should find willing consumers.
> the dominant market is not a company's customers, it's the company ownership.
Can somebody translate this to English for me? I recognize all the words, but I can't make any sense of them being arranged this way. What does it mean "dominant market is the company ownership"? It just doesn't compute.
Re:AT&T lied about everything it promised to do if it got a ...
by lxmorj on Friday January 31, 2020 @02:02AM
(#22199712)
I believe he means: they aren’t in competition for customers. They are in competition for stockholders. Stockholders exist in a true competitive marketplace where AT&T must provide value to get their business. This is strictly not the case for most of AT&Ts customer-facing business. That exists in an oligopoly that appears to collude on pricing and (lack of) service.