this post was submitted on 21 Oct 2025
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[โ€“] avidamoeba@lemmy.ca 3 points 5 months ago (1 children)

In practice firms consolidate regardleas of individual wallet voting. Wallet voting has no bearing on one corporation acquiring another. It has also no bearing on a few corporations dividing the user base amongst each other through lock-in and unofficial cooperation. If wallet voting was a strong influence, pervasive market failure wouldn't be a thing. The fact is that firms accumulate financial capital over time, buy failed competitors along with their customers, then rinse and repeat until there's few firms left. And they have vastly more money and therefore vasrly more "votes" that they use in various "elections" than individuals. Individual wallet voting could only ever work if massively organized and that is extremely difficult to achieve. Not the least due to these same firms spending their capital to keep individuals from collectively voting, via various well-known behaviour modificaton techniques.

Sure, but if sales inevitably drops after a large acquisition, it would be a better market for smaller players and less incentive for the megacorps to gobble up everything.