Eventually Amazon will fail – and that’s a good thing...

The Federal Trade Commission has cleared the merger between Amazon and Whole Foods, sparking yet more fears that the retail giant is becoming too big. Even as commercial enterprises adjust, politicians and bureaucrats in America, Europe, and elsewhere are sounding the alarm about how big companies like Amazon and Google are shutting out smaller competitors and hogging the marketplace. But their worries are misplaced: The market will see to Amazon just as Amazon saw to its predecessors.

If a company delivers huge amounts of value to consumers at a price that suits them and revolutionizes the way we do business, government can see it as a problem that’s got to be stopped. What politicians don’t seem to grasp is that today’s big companies were yesterday’s small companies that upended yesterday’s big companies.

Amazon, Google, and Netflix are now big companies that all started by creating new markets and new opportunities that proved the undoing of the companies and services that came before. All three began as start-ups, not offshoots from a dominant market company. Google was founded in a garage by an entrepreneur maxing out his credit cards. Now we can hardly remember a time before “Google” was a verb. Full story...

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