Tuesday, October 25, 2011

Netflix, Greed, and the canary in the coal mine.

Netflix has done what seemed impossible to do; destroy its stock price, public relations and employee morale. In that way it is an unusual American story. If it had had a legion of very connected lobbyists, like GE, it probably would have received governmental support and have stopped deterioration of its finances.
I say this is unusual because most Senators and Congressmen are owned by major corporations or the teachers union. In most cases conspicuous greed doesn't seem to be a problem. There may be a couple of bankers in jail but not many. Some of them, in fact, saved their fortunes by taking TARP money.
It seems you need to have a totally out of touch CEO in order to fall out of the elite. I know friends who dropped Netflix, even though they loved the movies. Most of us aren't smart enough, it seems, to stand up for ourselves and say we're not going to take it anymore.
If Americans understood what it's allegedly American companies were doing to destroy the lives of middle-class people by being driven by greed, they would be as active as they've been with Netflix. At this moment, American companies are doing anything to get into China, because they figure that they want to be the last company to make some money before the ball drops in China and people discover they have all our proprietary technology.
Greed hurt Netflix, but if the American people won't pay attention to what's happening to our country because of this rampant greed, the outcomes won't be clear to them until we've destroyed the middle class.
We need someone with the strength of Teddy Roosevelt to deal with the new Rockefellers.

No comments:

Post a Comment