this post was submitted on 25 Aug 2023
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Then comes the third entrepreneur
And the two established businesses just artificially lower their prices to keep out the competition, forcing the third to stop trying to compete.
That’s the problem with having money to lose to keep from losing money in the long term: firmly established companies with money to spare can always keep startups from succeeding, and all they have to do is wait out the limited money of smaller competitors to get back to ripping off the consumer