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Amazon Deal To Purchase Whole Foods And Start Ticketing Company Scrutinized

August 14. 2017

 

Amazon

Amazon.com continues to expand its company by agreeing to purchase Whole Foods for $13.1 billion dollars, in a deal announced a few months ago. This week Amazon announced it intends to sell entertainment and sports tickets in a venture that would compete with Ticketmaster and others in that genre. Amazon also launched a streaming service for entertainment. Congress is expected to review Amazon's purchase of Whole Foods. What I dislike about the Whole Foods deal is statements being made by the company regarding using robots as cashiers. This would mean many Whole Foods cashiers would lose their jobs.

Whole Foods is known for selling high quality, nutritious food. Amazon is known for undercutting other companies. Will this purchase impact the quality of the food being sold. The company intends to merge its Amazon Fresh with Whole Foods. Many are complaining Amazon's purchase of Whole Foods will drive smaller grocery stores out of business.

Amazon has already damaged the sales of a number of stores such as Sears, JC Penney and Macys, among others, by undercutting them in clothing and household sales. Amazon has definitely violated a number of anti-trust laws. They are not the only company currently doing so. Facebook and Google are violating scores of anti-trust laws. They are gobbling up smaller companies and those that refuse to sell are seeing their business model, products and ideas ripped off by the two tech giants.

Google was allowed to purchase You Tube. Google also has an advertising company Ad Sense, a music streaming company, Blogger websites and its own mobile phone company. Businesses that refuse to give into Google's demands are blacklisted and targeted for financial abuse. Facebook is particularly ruthless. Facebook was permitted to purchase Instagram. When it tried and failed to purchase Snapchat, Facebook simply ripped off the site and integrated its features into Instagram. They financially damaged Snapchat in doing so.

As big as tech giant Microsoft has become, they didn't abuse competitors like Facebook and Google. They branched out into other areas of business, but blended into the marketplace, rather than trying to gobble up everything around it.

A nation's financial sector thrives when many businesses are doing well. If only a handful of businesses are reaping the majority of the nation's sales, it damages the economy, as less people are being employed. The more companies that exist, the more people that are employed. Amazon, Google and Facebook can't employ all of America. Congress needs to wake up before the greed of those three companies breaks the corporate sector.

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