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Amazon's Monopoly of the tech industry is ruining the US economy (lemmy.world)

submitted 3 months ago by Buttflapper@lemmy.world to c/technology@lemmy.world

219 comments fedilink hide all child comments

I wanted to get printer photo paper for my printer, a Canon. I went to Walmart, They had nothing. Went to Target, they had one pack of photo paper and it was crazy expensive, so I went to micro center. That one was just as expensive. So finally I went back to Amazon, which I was trying to avoid, and saw the price 25 to 40% lower than anywhere I had been. Literally everything that I was looking for, I could find within seconds. Not even Best buy has even close to the amount of inventory or variety, even when you're shopping online....

Therefore, I think Amazon has a literal monopoly in the tech industry right now, you're literally forced to buy from them, because unless you have the money and financial fortitude to protest with your wallet, you're going to be buying from them. There's no other choice. They have so aggressively and dominantly taken over the supply chain market that no other tech company can currently compete with them in any aspect at all. You will be paying 40 to 50% more on everything by cutting out Amazon, and no one has the money for that anymore unless you're upper middle class or above

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[–] vvvvv@lemmy.world 11 points 3 months ago (1 children)

Check Amazon’s Antitrust Paradox by Lina Khan (FTC). A very detailed review of how Amazon is a monopoly and how they dodge antitrust legislation.

[–] GamingChairModel@lemmy.world 4 points 3 months ago

That article has basically been validated over time. At the time it was written, the argument was that monopoly is bad for consumers even if it makes prices cheaper, and that consolidation of producer market power needs to be understood as consumer harm in itself, even if prices or services paradoxically become better for consumers.

It's no longer a paradox today, though. Amazon has raised prices and reduced the quality of service by a considerable margin, and uses its market power to prevent the competition from undercutting them, rather than competing fairly on the merits.