Reaper
Tells it like it is.
- Joined
- Aug 15, 2004
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I think this is a symptom of 'globalisation'.
Our world is evolving to a point where there is either one, or a small group of mega corporations that control and dominate an entire industry.
TO give you an example of this outside of the automotive industry...
A couple of years ago I bought $1000 worth of shares in Aussie online movie streaming company, Quickflix.
They had good management, good product and service, competitive pricing and where riding the right tech at the right time.
Then last year they went into voluntary administration and I lost my entire investment.
Why? The main reason I believe was the American behemoth, Netflix
Australians simply did not want to support our own business, everyone wanted Netflix, even before they arrived in Oz, consumers would find all sorts of ways to get around the geo-blocking so they could get direct access to the US Netflix...or they would use internet torrents to download the latest movies for free...or use the American Youtube (now owned by Google).
We are being sold the idea that globalisation is good for everyone, well, I guess that depends or your personal perspective...one thing is for sure, it is good for the insiders and power-elites.
The 'Money-Power' paradigm is winning....because humanity revolves around....'Money-Power'.
If you don't play the game, you risk falling behind.
As a roughie $1k for most investors isn't a huge amount to loose and although painful I hope it wasn't too bad for you. As a very fast recon on it, I'd say it was an outside investoment at absolute best. They may have had a truckload of infrastructure behind it but without some major catalogues to lob up as content, they were always doomed to fail.
It's downfall wasn't about globalism, more about content from what I saw.
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