Meta CEO Mark Zuckerberg had criticized Apple for changing developers by 30% for in-app purchases via the App Store. His solution to bring fairness to the creator, charge you 47.5% for using my platform! Baby! As much as it sounds outrageous to you, Meta’s justification is we are running a meta monopoly!
Can Meta prevail this time?
Let’s explore.
Table of Content
Monopoly Nation
Monopoly is Bad
Metaverse Monopoly
BlackRock goes into USDC
Crypto Narrative
Choices
In Conclusion
Monopoly Nation
The best way to make profits in the short term is to become a monopoly. You can control the supply of goods and services. There is an abundance of demands waiting for your supplies. In the past, people controlled salt, sugar, food, coal, petroleum, steel, diamonds, gold, and many commodities. Then, it evolved into controlling utilities like electricity, natural gas, water, cable television, phone, internet, and medical services. There are also monopolies of transportation, trade, professional sports, alcohol, tobacco, software, computer chips, genetic technology, military equipment, entertainment, and many more to come.
Monopoly is Bad
Economists point out that monopoly leads to less innovation, losses in quality, and higher inflation to dump into customers. But is monopoly always bad? Yes! Because it takes away welfare through the exploitation of the short-term profits and creates a long-term problem that is harder to deal with. They will sacrifice innovation to exchange for profits. But we all know innovation is a key to driving society forward. However, the position opposing monopoly has changed since. Some actually believe that monopoly can be beneficial.
Metaverse Monopoly
Meta can charge you a 47.5% pay cut because they believe they will become a monopoly. We hope regulations can help prevent the monopoly game but the government has its own problems when dealing with a monopoly. Imposing a 47.5% charge on creators is similar to taxing creators who use their platform.
BlackRock goes into USDC
Another news that shocked the crypto community is that BlackRock entered investment with Circle with a $400M funding round. The community previously believed stablecoin companies can operate on their own. However, when an investment monopoly enters the market, the future may have changed. It may become a corporate central reserve bank that is influenced by an investment monopoly.
Crypto Narrative
There is a way to prevent monopoly in the crypto narrative. One of the benefits of using crypto is to prevent one from the control of the entire crypto market and influencing the market price. However, the technology only applies in the mining operation. Will that apply in the crypto market also? What if one can buy out the majority of the cryptocurrency, will that make one dominate the market?
Choices
To let monopoly win, customers will have no choice but to choose their goods and services. In modern days, it is harder to become a monopoly and crypto makes it even harder. Even though Meta can charge you 47.5%, it does not make you only choose their platform. There are many stablecoins to choose from in the crypto market. Monopoly can take a significant portion of the market, but they cannot control the market without making more competition with other competitors.
In Conclusion
Monopoly is coming but our innovation will not stop from here.
Photo by Joshua Hoehne on Unsplash
Note: the post was shared on multiple platforms here.
You can refer my previous article lists here and here
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2022 Prediction
2022 Prediction #1: L1 Scalability
2022 Prediction #2: L2 Bridges
2022 Prediction #3: Zero-Knowledge Proofs or ZKPs
2022 Prediction #4: Regulated Defi On-Chain KYC
2022 Prediction #5: Institutional Crypto Adoption
2022 Prediction #6: Defi Insurance
2022 Prediction #7: NFTs-Based Communities - DAO 1.5
2022 Prediction #8: Metaverse and NFTs
2022 Prediction #9: Web2 Companies’ FOMO
2022 Prediction #10: Time for DAO 2.0
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DAO The Way
DAO The Way Part 1
DAO The Way Part 2
DAO The Way Part 3
DAO The Way Part 4
DAO The Way Part 5
DAO The Way Part 6
DAO The Way Part 7
DAO The Way Part 8
DAO The Way Part 9
DAO The Way Part 10
DAO The Way Part 11
DAO The Way Part 12
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Learn How To Defi
Learn How To Defi Part 1
Learn How To Defi Part 2
Learn How To Defi Part 3
Learn How To Defi Part 4
Learn How To Defi Part 5
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Crypto Comics
Crypto Comics
Crypto Comics - PoW
Crypto Comics - Who is Satoshi
Crypto Comics - What is Token
Crypto Comics - What is DeFi
Crypto Comics - What is Wallet
Crypto Comics - What is HODL
Crypto Comics - What is Coinbase
Crypto Comics - What is PoS
Crypto Comics - What is DAO
Crypto Comics - What is A Block
Crypto Comics - What is NFT
Crypto Comics - What is Fork
Crypto Comics - What is Web3
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Crypto Comics - What is Yearn Finance
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Crypto Comics - What is Aping
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Crypto Comics - What is Hot Wallet
Crypto Comics - What is Airdrop
Crypto Comics - What is DYOR
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Crypto Comics - What is RC4
Crypto Comics - What is WAGMI
Crypto Comics - What is Bagholder
Crypto Comics - What is Decentralization
Crypto Comics - What is Wallet Address
Crypto Comics - What is Plagiarism in Web3
Crypto Comics - What is Bart Pattern
Crypto Comics - What is Encryption
Crypto Comics - What is Consensus
Crypto Comics - What is Protocol
Crypto Comics - What is Stablecoin
Crypto Comics - What is ApeCoin
Crypto Comics - What is FOMO
Crypto Comics - What is Tokenomics
Crypto Comics - What is APR
Crypto Comics - What is to The Moon
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Learn Web3 in 100 Days
Learn Web3 in 100 Days - #1 What is the Internet and How Relevant to Web3
Learn Web3 in 100 Days - Day 2: What are the Browsers and Servers
Learn Web3 in 100 Days - Day 3: What are HTTP Status Code
Learn Web3 in 100 Days - Day 4: HTML and CSS and JS
Learn Web3 in 100 Days - Day 5: What is programming
Learn Web3 in 100 Days - Day 6: Markup, Elements, Tags, and Hyperlinks
Learn Web3 in 100 Days - Day 7: Style Your Web
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Learn Web3 in 100 Days - Day 9: SQL
Learn Web3 in 100 Days - Day 10: Front-End
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Modern Economic Nonsense
Modern Economic Nonsense - Inflation and Incentives
Modern Economical Nonsense - The Astrologist's Way
Modern Economical Nonsense - The VUCA World
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Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.
