this post was submitted on 23 Nov 2024
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No monopoly has ever been literally the only thing.
there are thousands of government-granted monopolies where they are literally the only thing
SiriusXM is that kind of monopoly right fucking now. They are the only provider of satellite radio and have no direct competition after XM and Sirius were allowed to merge.
Wow, hopefully we'll invent some competing way to listen to music in a car.
But y'know what, sure, my absolute was overreaching.
Yours still was too.
Standard Oil never had all the oil. AT&T never had all the phone lines. The worst, most blatantly illegal monopolies had competitors. They were still monopolies. What the word almost always means, does not require 100.0% market share. Shit gets weird well before that.
AT&T did have all the phone lines in a given area. They still do. Just like cable. The market isn't always as broad as the entire world, the entire country, or even an entire state. Comcast has a monopoly in many places by being the only provider of cable service in a lot of places, just as AT&T was the only provider of phone service to a lot of places.
And if a single house in the county has DirecTV, it doesn't count. Right?
AT&T tended to have abundant small competitors, even since the 19th century. They just kept suing them out of existence or buying them.
All of which is really missing the fucking point - absolute monopoly is rare and weird. Most monopolies have competitors. They're still monopolies. They command overwhelming market share, which lets them single-handedly shape the market. Having that power is what makes them a monopoly - abusing that power would make them a trust.