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I drink your milkshake! a metaphor for capitalism
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<blockquote data-quote="rickyb" data-source="post: 3205967" data-attributes="member: 56035"><p>The experience of numerous third-party vendors on Amazon, however, testifies that their online marketplace is the antithesis of a “free market.” Rather, the company is notorious for using the most sophisticated technology to drive out their competition and take over markets for themselves. By using algorithms to track sales data on Amazon, the company determines which products are most profitable, diverts traffic to their own marked-down version of the same product to drive out their competition, and then gouges the price to reap super-profits once they’ve established monopoly control.</p><p></p><p>Amazon is able to do this in part because they charge third-party companies 15-20 percent of their sales revenue for the ability to sell on Amazon, which impinges on profits and sets a higher price threshold at which companies can sell while still being profitable, thus enabling Amazon to perpetually undercut their competition.</p><p></p><p>With the establishment of an online marketplace catering to the federal government, Amazon will be able to track the Pentagon’s spending data on everything, and repeat the above process until they control every major market. Very shortly, Amazon could be the sole source of chairs, paper, desks, water bottles, etc. for the entire Defense Department, netting annual revenue of almost the entire apportionment of $53 billion, equal to 38 percent of the company’s overall $136 billion revenue in 2016.</p><p></p><p><a href="https://www.wsws.org/en/articles/2017/11/11/amzn-n11.html" target="_blank">House to vote on giving Amazon $53 billion deal to become main Pentagon supplier</a></p><p></p><p>n 2016, Amazon accounted for 38.1 percent of all online retail sales, followed distantly by eBay at 7.8 percent, Apple at 3.2 percent and Walmart at 2.8 percent. Amazon’s e-commerce sales are projected to grow by 32 percent this year, with their market share ballooning to 43.5 percent. If their growth continues at the same rate, Amazon will control 100 percent of online retail sales in roughly 10 years. With the help of the Pentagon, Amazon could reach this level of monopolization far sooner.</p></blockquote><p></p>
[QUOTE="rickyb, post: 3205967, member: 56035"] The experience of numerous third-party vendors on Amazon, however, testifies that their online marketplace is the antithesis of a “free market.” Rather, the company is notorious for using the most sophisticated technology to drive out their competition and take over markets for themselves. By using algorithms to track sales data on Amazon, the company determines which products are most profitable, diverts traffic to their own marked-down version of the same product to drive out their competition, and then gouges the price to reap super-profits once they’ve established monopoly control. Amazon is able to do this in part because they charge third-party companies 15-20 percent of their sales revenue for the ability to sell on Amazon, which impinges on profits and sets a higher price threshold at which companies can sell while still being profitable, thus enabling Amazon to perpetually undercut their competition. With the establishment of an online marketplace catering to the federal government, Amazon will be able to track the Pentagon’s spending data on everything, and repeat the above process until they control every major market. Very shortly, Amazon could be the sole source of chairs, paper, desks, water bottles, etc. for the entire Defense Department, netting annual revenue of almost the entire apportionment of $53 billion, equal to 38 percent of the company’s overall $136 billion revenue in 2016. [URL='https://www.wsws.org/en/articles/2017/11/11/amzn-n11.html']House to vote on giving Amazon $53 billion deal to become main Pentagon supplier[/URL] n 2016, Amazon accounted for 38.1 percent of all online retail sales, followed distantly by eBay at 7.8 percent, Apple at 3.2 percent and Walmart at 2.8 percent. Amazon’s e-commerce sales are projected to grow by 32 percent this year, with their market share ballooning to 43.5 percent. If their growth continues at the same rate, Amazon will control 100 percent of online retail sales in roughly 10 years. With the help of the Pentagon, Amazon could reach this level of monopolization far sooner. [/QUOTE]
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