This week we start with a look at a fairly exotic corner of insurance (body part insurance) and discuss the implications of the unbundling of the individual as a unit of value. Next, we turn to the former dictator of Indonesia, Suharto, to give us an example of how much monopolies can hurt an industry (and how monopolies of this sort are different from Apple and Google's actions today).
Besides Google and Apple search functions are free. They make money on data collection of customers buying habits and preferences. So instead of treating them as monopolies, they need some regulations on the user data, so other companies have access to it. Technocrats are smarter than bureaucrats and by the time they come out with regulations, the industry is innovating new things, and we’ll have new market leaders. This is the way of life, too much success is a curse.
Very informative as always, with the added benefit that "Ass insurance" was hilarious. As Archer would say: "PHRASING!"