Yeah, this is a weird feature of “capitalism” in the last couple of decades…
See also: airlines. Like, literally most of them…
Like, not even due to “protectionism”, as with manufacturing and arguably banking and tech…
No no, just “we need this airline because otherwise prices will go up, even if it has effectively been trading insolvent for a decade, and hasn’t made a profit in even longer”…
Here, I’m talking about Virgin Australia specifically, but there’s also Lada Air, Kingfisher, Pelican, fucking Air Berlin…
It’s an industry where actually making any money is very much the exception rather than the rule…
Also, in entertainment: sports teams, and their ridiculous stadiums. Most have never turned a profit, and will (obviously) never pay off their mega stadiums (which is why masses of public money goes into building those)…
Ah, if only the free market was actually even relatively free…
Yeah, this is a weird feature of “capitalism” in the last couple of decades…
See also: airlines. Like, literally most of them…
Like, not even due to “protectionism”, as with manufacturing and arguably banking and tech…
No no, just “we need this airline because otherwise prices will go up, even if it has effectively been trading insolvent for a decade, and hasn’t made a profit in even longer”…
Here, I’m talking about Virgin Australia specifically, but there’s also Lada Air, Kingfisher, Pelican, fucking Air Berlin…
It’s an industry where actually making any money is very much the exception rather than the rule…
Also, in entertainment: sports teams, and their ridiculous stadiums. Most have never turned a profit, and will (obviously) never pay off their mega stadiums (which is why masses of public money goes into building those)…
Ah, if only the free market was actually even relatively free…
Twitter falls into this as well, shittiest business alive became 4th most popular site on the entire internet.
We are not playing capitalism game here, we are playing interest group games.