Not watching a video, but how is it legal for any company to "sell" something like this? (The video might explain that, but that's my focus of what I care about out of the situation.)
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They are good at some things (allocating resources, adapting to changing supply and demand, revealing preferences and discovering prices, incentivising innovation and socially useful risk taking, …)
and bad at others (ensuring new entrants don’t repeatedly make the same safety mistakes, preventing exploitation of customers, protecting IP, solving for long term social needs, maintaining national resilience against threats, preventing waste…)
Fetishisation of markets is the issue.
Though markets and generally free trade are incredibly important and have brought (and hopefully will continue to bring) great benefits to humanity, they also have downsides, and other tools (regulation, taxation, industrial strategy, …) are needed to balance these.
This is one such case. The market is creating downsides that society should not tolerate.
Well said.
It should also be pointed out, that the regulatory laws are what _defines_ the market. They are even more fundamental to a market's existence than the companies producing goods and services, or the consumers buying them.
Without regulatory law, the "market" devolves to a relapse into the warring states era. Why shouldn't amazone hire a mercenary force to blow the vault doors off of Ft. Knox and carry all the gold home to Bozo?
Because there are laws against it! And that would render the action unprofitable. Bozo sure as sh1t doesn't care about stealing from anyone, or even someone getting killed, if it means he gets a bunch more shekels.
The regulatory law is more than just inherent, it's a mandatory component of anything that's going to have more resemblance to a "market" than to Mad Max...
So, the profiting companies actually _require_ a regulatory structure, to prevent the most wealthy and powerful from just taking whatever they have.
The question is in also making these regulations benefit the consumer as well as the supply side.
In the US this part is currently in rather complete failure...