Karl Iagnemma Quotes
If you're a large organization, you may welcome a bit of regulation to keep the small guys out.
Iagnemma, Karl. Interview. TechCrunch, Yahoo, 2017.
At the time, the Chamber of Commerce represented the small and medium business which were being decimated by the large businesses and their monopolies. A century later, the Chamber became a creature of the large business and their money and by 2010, the Chamber had virtually become the representative of the large businesses outside of the high technology field and had become a campaigning arm of the Republican Party, In 1880 however, they called public attention to the abuses of the large corporate monopolies.
Patents, copyrights, and franchises are but 3 common (and legal) ways of obtaining a onopoly position.See Adam Smith {627790} for a similar thought.
Boeing had the foresight to invest in the concept of Air Mail by bidding low at the beginning, becoming the best in the nation, and then raising prices when no one else can compete—a technique called “buying in”. However, he was so successful that he soon had a monopoly on all the airmail in the country. Each new airmail contract would require more and more capability and Boeing used the existing contracts to finance the R&D and training of manpower to present a better and better service. Soon, no other company could compete at any price. Boeing indeed had a monopoly but each step of the building of it he did at the request of the government or was the low bidder and saved the taxpayer money. The airmail contracts were canceled and air service was nationalized. William Boeing was so disgusted by the way he was treated in the Congressional Hearings, that he sold his interest in the Boeing Company and would have nothing to do with making planes or providing services to the government thereafter.
This is an important quotation because Ellison, one of the best businessmen in the world is also much more candid than most others. Here he admits that he strives to achieve monopoly status for his company. Almost all large businesses try to become monopolies so that they do not have to compete on price, quality, and service. Few will admit publicly that much of their effort goes towards an objective that is detrimental to the nation and society and in is in large part illegal.
Karl Iagnemma is an American writer and research scientist. He is also the CEO of self-driving technology company NuTonomy.