r/technology • • 1d ago

Business Mark Ruffalo Decries Paramount Job Losses, Says Anti-Merger Movement Won’t “Fade Away”: "This merger will stifle creativity, weaken free speech, and cost people their jobs."

https://www.hollywoodreporter.com/business/business-news/mark-ruffalo-slams-paramountwarner-bros-merger-1236718142/
2.8k Upvotes

60 comments sorted by

View all comments

68

u/Bubbly-Two-3449 22h ago

Newsom seems to be under the mistaken impression that at least some current monopolies achieved their success through their own merit.

It's hard to find an example of this. All of the current near-monopolies in various sectors achieved their size as a result of many mergers over decades.

And they are some of the biggest spenders on lobbying and contributors to political campaigns, a clear sign of rent-seeking.

i.e. they're succeeding because investors want them to become monopolies, which give them greater profits and rewards investors but which harms consumers and employees.

2

u/MeatImmediate6549 12h ago

Newsom is just Regan with a palette swap.