Sort of true. The rich also expand their dynasties. For example, Walmart now supports 10 billionaires instead of 1 as they are the children of the founder. I am sure we have all noticed the lowering of quality in our purchased goods.
The Waltons own 20x as much as they did a generation ago and split it among 10 people.
I am sure we have all noticed the lowering of quality in our purchased goods.
Their products were always shit. That was the Walmart gambit. Sell someone a $1 plastic piece of crap for $8 rather than a durable piece of $8 metal for $10. Pocket the difference and claim you saved people money.
But the broader consequence of Walmart and its “Buy up / shut down the competition” model is that everyone who sells to Walmart is obligated to produce crap. Because if you can’t sell to them at $.50, they’re not buying. And if they’re not buying, you lose access to millions of customers.
I think it was either Catepiller or John Deere that had a knock-down drag out fight with Walmart, where they wouldn’t budge on their wholesale price and Walmart began kicking them out of all their stores as a result, that effectively broke the back of the union-lead opposition to price cuts.
Sort of true. The rich also expand their dynasties. For example, Walmart now supports 10 billionaires instead of 1 as they are the children of the founder. I am sure we have all noticed the lowering of quality in our purchased goods.
The Waltons own 20x as much as they did a generation ago and split it among 10 people.
Their products were always shit. That was the Walmart gambit. Sell someone a $1 plastic piece of crap for $8 rather than a durable piece of $8 metal for $10. Pocket the difference and claim you saved people money.
But the broader consequence of Walmart and its “Buy up / shut down the competition” model is that everyone who sells to Walmart is obligated to produce crap. Because if you can’t sell to them at $.50, they’re not buying. And if they’re not buying, you lose access to millions of customers.
I think it was either Catepiller or John Deere that had a knock-down drag out fight with Walmart, where they wouldn’t budge on their wholesale price and Walmart began kicking them out of all their stores as a result, that effectively broke the back of the union-lead opposition to price cuts.
This comment makes me wanna rewatch the walmart south park episode :)