Samsung sees 95% drop in profits for a second consecutive quarter::Today, Samsung posted its Q2 2023 financial results. The report says Samsung’s profits have dropped considerably compared to last year.
Lol everyone commenting it’s because THEY don’t want to buy a new phone. Samsung supplies screens, electronic internals for other companies, and a fuck ton of appliances. They don’t only make phones…
Yet the article says Samsung attributes that to the phones market?
Samsung attributes this loss in profit to the decline in smartphone shipments due to “high interest rates and inflation.”
Something else that doesn’t seem to bode well is the fact that Samsung believes the boost that came from the launch of the Galaxy S23 series has faded.
And expects a comeback because it’s launching new models…
The manufacturer highlights the launch of the Galaxy Z Flip 5 and Galaxy Z Fold 5. It also believes that the smartphone market will make a return.
This seems to indicate that most variable profit comes from the smartphones market.
I was just in a vacation rental looking at a Samsung mini-split AC and wondering if it was good or not haha.
Their washing machines and dryers aren’t great compared to LG, so I would be suspicious of their ACs.
Samsung and LG are both garbage when it comes to washers, dryers and the worst for refrigerators.
What do you mean? Consumer Reports ranks LG dryers as the best, so much that you the next best dryer that isn’t an LG is a Samsung in 21st place.
Of CR recommended dryers, 11/11 electric dryers are LG and 20/25 gas dryers are LG.
https://www.consumerreports.org/products/clothes-dryers-28982/electric-dryer-30562/view2/ (requires a subscription)
Where do you get your data from?
Consumer Reports isn’t a valid source. They have paid reports.
Speed Queen is the top brand in washers and dryers.
LG dryers do not last past their warranty for very long. Anyone who’s owned an LG can tell you that as with appliance repair companies.
LG and Samsung are very poor.
Consumer Reports isn’t a valid source. They have paid reports
Do you have a source for that? That would be a pretty big deal considering they’re a non-profit that claims to accept no samples and no advertising.
PeTA claims is doesn’t fund terrorism. Yet they do. They were blacklisted from Walmart donations when I worked there for that sole reason.
They don’t make OLED TVs. LG supplies samsung with the OLED panels for their TVs.
For everything samsung does, they can’t do the hard things. They can’t make OLED panels, they can’t make SoCs like Apple, and they can’t make software like Google.
Samsung does a ton of things…mid. That’s why they supply so many parts. Because the really difficult and innovative things are done by the people they sell parts to.
They do SoCs. Just no one uses them. Not even Samsung
Yeah, this is the chaebol system at work. The Faustian deal between these megacorps and the citizens of South Korea means that it is impossible for Samsung to fail or to be accountable for their bad business decisions. South Korea is the most developed cyberpunk technofeudalistic society.
without any kids. They’re in for huuuge trouble.
They went from one million births in 1960 to just 250k last year.
The birth rate is below 1.
with a birth rate of 1, four grandarents make a single grandchild.
Once we go below 1, most people will never even be grandparents.
The boomers will enter retirement age soon, I’m not really sure how that will work.
They definetely won’t be able to do anything against North Korea. They will either be bedridden or care for someone bedridden.
I think boomers are all retired, it’s gen X and Millennials that don’t breed
Youngest boomers are 59, so still not all retired.
Likely not having that many kids though.
Ok. I guess I live in a wealthier place, they all retired here on generous pensions at age 54 and a half
Could be. My dad retired at that age in the 90s. But he was Silent gen, not a boomer.
The chairman of Samsung is a convicted criminal, by the way. Pardoned by the totally not corrupt president. Apparently he’s such a genius that laws don’t apply to him.
Not surprising. I’d expect something similar to happen to anyone at the top of any of the chaebols.
each new phone is more expensive, with less functionality.
hover on the touch screen? gone
iris scanner, gone
headphone jack? gone
air pressure sensor? gone
humidity sensor? gone
ir blaster, gone
meanwhile I get charged out the ass for storage space.
Why the fuck would I want a newer phone?
Don’t forget the SD card slot missing, S20 was the last one that had it. I still don’t know what to get after that, just because of the missing SD.
mine can take an sd card, but only if i take out one of my sim cards, of course
That pisses me off the most
Internal storage on phones is over 200gb by now. I havent needed an SD for years. What the fuck do you store on your phone that could still need an SD? lmao
I have a young son and it was getting very irritating having to be selective recording my videos of him. I finally just paid $90 and added a 1TB premium sd card, and now I won’t have to worry about it at all & download all the videos I want for us.
Upgrading the internal storage to 1TB on a new phone costs several hundred dollars.
Because I like to store stuff on my phone
I am 12 and this is deep, what a moronic take
4k video files will fill your phone up mighty quick. especially if you use it for youtube videos or similar. or film your family/pets a lot
Record 1 minute video, how big is that file? 200 MB, 0.2 GB. 5 minutes and 1 GB is full. When something interesting happens, 5 minutes are recorded easy, obviously. 200 GB, nothing for apps, maps, downloads,… are enough to record 15 hours of video. Then that is it. How many moments can I capture with that? Enough for maybe 2 years? I don’t throw my memories away when I get a new phone. Instead, I just buy a new SD every few years and compress the video files every once in a while.
Also removable batteries gone
Mine is actually very easily removable. The device overheats so much, that it’s completely annihilated the glue, and now the back panel is only held down by the case c:
Be honest. You tried microwaving it, didn’t you?
A very nice man on the internet told me it would charge it
Honestly, I may as well have
That’s supposed to be coming back by EU law in the next few years. So we have that at least.
Don’t forget color changing led notification light. You could pay with your phone at old card readers using MST. Oh yeah, and the S9 had a blood pressure sensor.
They want to keep competing with and copying Apple/iphones, yet they keep forgetting about what makes Android phones so appealing to the people who select these phones over iphones.
Holding tight on to this Samsung Note 9 until it finally dies. Battery is still ‘ok’ for now, will last a full day.
Snapdragon, not that pos Exynos
Finger print reader on the back is the only way to do it. Wife has had several newer models with built in front side fingerprint reader and it has been ridiculously unreliable by comparison.
Iris Scan
Face Scan
Headphone jack
Micro-SD Card
USB-C
Wireless charging
NFC with payment support
And even the stupid pen thingy that I use maybe once a month.
Not 5G but the 4G LTE is usually more than fast enough even for streaming when using as a hotspot.
Wait air pressure sensor and humidity sensor? Are you talking about their watches?
no, i am talking about phones. this stuff used to actually be in phones
Air pressure is (was?l in pretty much any phone.
Samsung Note 10 and others have a barometric sensor, though I’m not aware of any app using them. Which might explain their removal, sadly.
I have a barometric sensor in my phone?!
I like using the app phyphox to look at all the different sensors on my phone
Oh boy this is a weird tool hahah, I love it!! Can’t thank you enough for this recommendation, it always bummers me how wasted are most phones in terms of potential, when I used to fantasize about futuristic portable computers as a little boy I though that people would become a short of cyborg that would do “magic” with their computers. Turns out, phone became the “squary-glassy attention sink machine” xd
I was thinking on accessing the pressure sensor via termux and then export that data to a csv file with some python script! phybox looks ver interesting to gain control over my devices 😗
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Counterpoint: phones like Redmi 9T have it all. Headphone jack, expandable storage, IR blaster, NFC… Also manages to have an “okay” battery capacity that’s 6Ah.
The only problem is it costs too little so people don’t consider it.
First, even for Xiaomi that phone is crap with a myriad of software related complaints alone. On the hardware front its cheap because cheap in gets cheap out. Underpowered even for 2021.
Pointless unintuitive feature that’s replaced with simple press and hold.
Unintuitive for you, perhaps. I found it more intuitive than the press and hold (until it became ubiquitous), since it made more sense for a preview. Press and hold, in my mind, is more for secondary menus and alternative options, like mass-selecting.
The air gestures were also nice if I had my hands full, since they worked without turning the screen on, and without touching it, although they leaned more heavily on the gimmick side of things.
Slow and unreliable compared to fingerprints. Anyone actually used it?
Yes. I use it a lot when I have my phone on a stand, or when I have gloves on. Fingerprint readers don’t work through gloves, for obvious reasons, and it’s less effort than having to fumble around with my phone and my gloves, especially when I will be putting the glove back on afterwards.
Since my phone also has the fingerprint reader on the back, rather than the front, it also makes it much easier to unlock my phone without picking it up, which is nice when it’s on its wireless charging pad, or I want to quickly check a notification or something, rather than needing to pick it up.
As for speed, I’ve not found it that much worse than the fingerprint, especially once the camera’s fired up. The hard part tends to be aligning yourself just right, and that you need to tap a “confirm” button compared to the one-click that fingerprint does.
Who needs these things? Weather apps work just fine. Rather use the space for battery.
The space won’t be used for battery. It’s a small chip on the PCB, and Samsung would either keep it around for other sensors, or would leave that space blank. Having a tiny battery protrusion like that is silly anyway. Having a little dingle like that would just make the battery more likely to be damaged and erupt into a violent conflagration.
I personally found it handy, even if it was underutilised. Sometimes you want information from within the house, not outside of it, and if your phone can fetch that information and present it, you don’t need to go and buy a separate hygrometer and air pressure sensor, and carry it around, or have to feed that information via an external service.
Unless you’re looking to vandalize public tvs, just replace it with any number of wifi/bluetooth remotes.
Assuming that your TV comes with support for those. If it doesn’t, such as if it’s an older television, then you would be out of luck.
Personally, I used mine a bunch back in the day, just because it was nice to be able to fire up the VCR, Amplifier, and TV all in one button, rather than a bundle of loose remotes, but that’s more of a first world problem, and less of an issue these days, since television is on the decline.
More importantly, though, the phones aren’t cheaper despite the loss of these features. The phones just get more expensive, even though they had fewer sensors and features like that.
The point is that technology isn’t supposed to get in the way of us doing things and that’s exactly what removing features that are useful to people does.
Usually there is a compromise somewhere though. If they could just add all the features without any downsides, they surely would (and demand a premium for it). Granted, sometimes it is just cheaper to get rid of it (and thus make more profit), but sometimes its just a decision to cater to a minority or provide a benefit for the majority of users.
Found the Samsung fuck boy
At least Samsung has proper video out through the USB port. Unlike the trash that Pixels depend on, such as Chromecast. What kind of GPU doesn’t have either HDMI or displayport (through USB-C like Apple, Samsung, OnePlus, Steamdeck, laptops, etc. ) out in this day and age?
Fuck Samsung, I’ve had the worst experiences in all of tech with their support system. I had a bad ram module on my s22 and even used the Samsung Support app and had a tech point it out to me. Sent it in and apparently the repair center can’t see those notes that the support dev had written. It took 3 tries and countless calls to support, and eventually got in contact with the office of the CEO, and they basically admitted their backend support is so fractured that someone with phone in hand can’t see any notes any other tech had written. They then decided to give me a refund, which was for less than the receipt, and after fighting for another MONTH to get them to give me the correct funds, they finally sent it to me. 3 months in total. Fuck Samsung.
The CEO directly handles support?
It’s a gimmick I think, it’s called The Office of The CEO. It’s basically just customer support that actually can do things I guess. You can get to it through the Samsung website. It’s truly the only way to get anything done, but you basically have to send a super bitchy email to get them to respond. https://www.samsung.com/us/support/contact/email-the-ceo/
I know personally that I would never buy a Samsung phone again. The budget models are filled with ad/crapware. The premium models are expensive, gimmick laden and bad value.
Genuine question: what do you recommend instead? Not really excited to support Google via pixel either and didn’t love my last iPhone. Is there a good choice anywhere?
Oneplus has gone to shit as far as software is concerned, but the hardware is still good, so if you’re OK running a custom ROM, they’re good.
I last used the Xperia lineup ages ago, but it was a pretty decent experience, close enough to stock Android and the additions they did add were actually improvements. No idea if that’s still the case, but you could look up some reviews.
Ditto for Motorola, which was nearly stock Android back in 2014.
Murena sells refurb and new phones with /e/os preinstalled if you want to go google-free.
I do miss the early days of Android, when you had players like HTC creating completely unique Android experiences (I mean so did Samsung, but their uniqueness was how slow Touchwiz was).
Edit: Also completely forgot the fact that Nokia makes some good phones, including pretty affordable ones and some higher end ones. But personally the one person I knew with one had issues with the USB-C port and had to have theirs repaired by the warranty and then refunded on the second or third round. But that was a much older model, maybe 5 years now, they likely have fixed the issues on their newer ones.
I’ve had a Nokia 3.1 and 5.1 and I would advise everyone to steer clear! I won’t be buying a Nokia phone again
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Welp, another brand to avoid, that makes… pretty much all of them.
Out of curiosity, what was wrong with your Nokias? I’d never heard of any other issues besides the USB-C port on the 5.1.
The 3.1 started to become incredibly slow once I installed at the latest updates. If it’s factory reset then it runs fine. The worst offender on that phone was turning the Wifi on and off. Turning it on (after all updates are installed) causes the phone to freeze for 10-20 seconds.
On the 5.1 the keyboard stops responding to every other key press at times. That’s been my only gripe so far to be honest but it’s incredibly frustrating.
I’ve been happy with my pixel. As much as it might be not ideal if you don’t want to support Google, ironically it’s like the only phone you can de-google and still have a locked bootloader and full features
Doesn’t that invalidate safety net?
Doesn’t that invalidate safety net?
Sorry I’m not 100% sure what your asking. If you’re asking about custom roms, I’d trust many custom roms (Graphene is my favorite) better than a lot of manufacturers’s roms. And a bootloader that can be re-locked is a big boost to security, since it requires that the OS be signed by the devs instead of making it easier for malicious code to be shimmed in and run at the OS level even if I install a custom operating system.
SafetyNet is the name of Google’s tamper protection thingy. Basically, if it’s not a trusted chain, safety net won’t pass.
This doesn’t impact phone functionality, but some apps check for this and refuse to work if it’s not passing. Google Pay is one of the more well-known examples. Some other banking apps will also check for it. Oddly enough, Pokemon Go also used to (not sure if it still does).
Ah, sorry, yeah potentially. I’ve heard that banking apps won’t work most of the time (but usually just use the web any way so can’t confirm). Though oddly if you wanted to use Google Play on Grapheme it works perfectly fine, so maybe not.
Have a look at Gigaset aka the Siemens branch that built all those DECT phones aka not Siemens mobile (which was a complete joke and failure). Not part of Siemens any more, anyway. Never really top of the line but also comparatively inexpensive (not as much as China phones but still), and most importantly: Replaceable battery. Always had them, even before the new EU regulation (which isn’t even in force yet). Not really that popular in the mainstream market but definitely among builders etc. who want a rugged phone, they’re quite successful in that niche.
Sony Xperia
I think OnePlus, Motorola or Pixel but really you’d have to check reviews since any phone of including this shit if they wanted. Networks do it too so it is important to buy a SIM free phone if possible as the first precaution.
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Not the OP, but I went with Moto instead. They’re slim, with minimal junk (2-3 Moto utility apps that aren’t terrible, no Facebook or similar), they work as well as my Samsung phones (if not better), and my first one outlasted the network it was running on (AT&T older G-series network).
I installed e/OS/ on my Samsung s8+, best decision of my smartphone user life. Fast os, no ads, no crapware, no tracking, no preinstalled bullshit
Does “visual voicemail” still work when using e/OS/? I bought an unlocked Samsung a few years ago, but it’s apparently an issue to get visual voicemail working. Not sure if it’s only an ATT problem, (like they’re just being dicks about me not buying my phone through them), but I gave up cause it wasn’t worth my time. I just don’t really check my voicemail anymore cause I’m too lazy to call it, but I wouldn’t mind having it back if it’s a quick fix
Whatever is most popular under $200. Unless you game or use your phone to take photos a lot, it will do just fine, there’s not much to be added to justify any additional costs. Ironically, most phones in that category would be Samsungs.
But a more expensive phone will last you longer until it gets completely outdated because of its’ performance, therefore you replace it less often and generate less e-waste.
I know that person said Apple (6-7 years of software updates!) is out of the question, but nearly all higher-end Androids get good custom ROM support and can be kept running for years after the OEM stops supporting it.
For just under $200 (in my country anyway - we have 20% sales tax, you might get something better in the US for the same money) I can get a Galaxy A14 with a Mediatek MT6769, a SoC built on an ancient 12nm node, which might be cheap, but will have much less performance per watt than a 7 or 8 series Snapdragon on a 4nm node.
I’ve had several phones under $200 over the years. One thing’s been common. The stuff that sucks is the stuff that’s not clear from the specs. It’s the fact that something or the other just doesn’t work that well. I’ve had bad proximity sensors, bad gps, rather poor ram management (still there on my more expensive Samsung). It’s not the chip or the cameras that bother me, it’s the stuff like the quality of the sensors, wifi, bluetooth etc. After my last $200 phone, I bought a Samsung galaxy s20 FE 1.5 years after it launched. Soooooo much better than anything I’ve had in terms of consistency and not letting me down on the daily. So my motto is going to be old flagship, rather than new mid-ranger. And if I can afford it, new flagship I guess.
The expensive models also have ad/crapware, don’t forget about that fun feature
You shouldn’t have to do this if course, but if you want to remove all the shit they put on phones it’s very easy and safe to use ADB. XDA usually has a list of the things that are safe to remove and there are tutorials online.
People probably aren’t enthused about buying an overpriced tv, fridge, washer, or phone that all come with bloatware and adware.
I might buy a fridge from them if they could make one that lasted more than 10 seconds after the warranty was up.
I’m also in that zone of being in the market for things that Samsung sells, but to me, the brand association is with having all of these issues that don’t seem very worth it to me. I just want something affordable and reliable, things that I don’t associate with Samsung.
A lot of people here clearly don’t understand how large of a company Samsung is, and what all they sell.
I don’t even want to buy a new phone. It’s been more than four years. What great productive work are most people doing on them anyway?
Yep. I run my phones in to the ground and when it’s time to replace it I’ll get one of the cheaper models that’s been out for a year.
If I’m going to pay£1500 for the latest flag ship phone then I’d expect it to do multiple things that a £300 phone can’t do but the only real difference is that the cameras not quite as good.
Not to mention things like Lineage can get even more life from old phones.
I’m running lineage os on a 7-year-old phone, and I can confirm.
I’d buy a new phone if they fucking offered a flat oled screen. This rounded edges is complete bullshit.
The S20fe 5g is flat and has OLED. The flat screen is the reason I bought it. Still running as well as day one three years later. I have noticed a slight dip in battery life lately but I can get through a whole day with maybe 35% left. When this one dies, I will probably get another.
I have the S22 Ultra and it all started with the shitty S7 which I got after my Note 3 died. Also, the S22 Uktra has a worse camera than my Note 8. They made this camera for selfies and anything other than a selfie comes out blurry
Im scrolling Reddit and Lemmy productively
You could always get one of those phones with buttons for under 50$
95% is huge. They been releasing too many models and their new phones are too expensive for me. they should follow apple and only release one every year
They make far more than just phones…
yes they also make crappy fridges which are 100% disposable because the compressor dies 10 seconds after the warranty is up, filling up out landfills with perfectly good appliances that could have stayed in place in working condition if they just spent 5% more on better compressors for them. But no.
From the article, “Samsung blames the decline in smartphone shipments for its financial troubles.”
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Because more and more people are using their phones until they quit. Who needs a folding phone?
When money is tight you might use your phone for a year or two longer. 1000 Euro phones also don’t help the matter.
It also seems like the whole you gotta upgrade every other month hype has long since died down. It’s not the exponential improvements that it was ten or twelve years ago.
I couldn’t agree more. I have a Zfold 2 that I’ve had since launch (3 years) and I look at the phones on offer now that I have an upgrade available and I see no reason to upgrade to a new phone for a marginally better camera and processor, there hasn’t been enough innovation in mobile tech in that time to warrant paying another £1000+ over another 3 years, I’ll rock this phone phone until it dies the same way I did my Note 9.
Phones just went through the same thing PCs went through twenty five years ago.
Yeah, I’ve had my LG G8 for four years now and I’m just starting to look for replacements. Unfortunately the G8 is known for the battery being very hard to replace or I would be looking into a battery replacement service instead to get a couple more years of useful life.
I’m clinging to my LG though with no OS updates ever again its days are numbered. In the meantime I paid a shop to replace the battery in my LG because it couldn’t hold a charge anymore.
I’m still using my iPhone 8 Plus that I bought in 2017 and it still serves well since I don’t play games.
While I don’t use a Samsung, I am over half way through my phones fifth year. Other than a battery replacement I’ve had literally no problems whatsoever.
If only lifespan and right to repair were written into law everywhere.
Software updates are the problem unfortunately
Developers require money, and software maintenance requires lots of developers, testers and other people.
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No not really, formula is no more than 10% production costs pa unless w produced poorly to begin with. It’s even less if you’re running multiple versions of roughly the same thing then the costs are spread over those versions.
Yes and no. Installing last version of android on a pixel 4 is most likely absolutely fine. And keeping at least security support is likely not a big deal. 3 years of security update support it is clearly a finance department decision. Why 3, why not 3 and half? Why not 4?
Just because they need predictability in sales, and they attached the support to the “classical” number of years after which you’d like a customer to buy a new tech product. 3 years has always been a magic number for hardware companies, since forever
I wonder why this is not a problem for pcs though
Because PCs are from a time before tech monopolies. They are based on a spec that allows different vendors to work together. As a result there is more competition, more options for repair, etc.
Yes, though technically they started out as reverse engineered clones. There were tons of incompatible microcomputer brands before the IBM PC. Then companies like Compaq put out “PC compatible” clones based on specs that came from reverse engineering of the IBM PC. Over time, things evolved toward deliberate standardization.
Imagine the dumpster fire of legal action, which courts would likely side with, if someone put out hardware that was 1:1 compatible with the iPhone and iOS would run on it. That’s basically what happened, though MS DOS was produced by an additional party instead of IBM.
I wonder how long this will last. We’re already seeing Apple getting some crazy performance with their M chips with integrated RAM and GPU, wouldn’t surprise me if PCs start becoming less and less modular as time goes on.
As a guy who likes repairing tech this movement towards anti repair saddens me.
Because PCs are based on a hardware standard that allows for a standard kernel and pluggable drivers. So you can just take a standard install of a new version of Windows, and toss in the same drivers from the last version, and you’re on your way.
On ARM, there is no such standard that is widely deployed, the hardware is integrated bespoke for each and every device, so building a new version of the OS for a specific phone means using very specific configurations (where in memory is the GPU mapped? where is the sound chip mapped? on a PC the hardware can plug-and-play detect this stuff, on ARM it has to be hardcoded into the OS for every device). This is made worse by the chips used in mobile phones being proprietary hardware where the drivers are only released to manufacturers under NDA, and these hardware manufacturers often don’t bother to supply updates at all and individual phone manufacturers don’t have enough clout to force them to
It kinda is. Windows 11 won’t run on older hardware and end of life of the latest version of Win 10 is coming up in 2 years or so. And a bunch of PCs weren’t really ready for Win 10 when that replaced Win 7/8 and again, support for those dropped at some point.
Lifetimes are usually more lenient with PCs, but it still happens. You can switch to Linux of course, but then there are alternatives for many smartphones as well.
My Galaxy S10 is on its 5th year I think. Really had no issues with it, even the battery. Only showing signs of slowdown this year.
Granted, I run my phone on 720p and constant battery saver lol
Drops in profits can mean investments, new hires and a myriad of other stuff. No meaning in the headline whatsoever. Profits are not revenue.
Young people in Korea have switched over to iphones. iphone have like 60% marketshare now for that demographic
Imagine actually using an iPhone
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Firstly, it’s a joke, secondly, it’s more about OS and user experience and not brand loyalty. The fact that you don’t know that is a tell tale sign
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Dunno if you’re taking the piss but they’re not that bad. Have an iPhone mini 13 I bought for €450 2nd hand with 100% battery health. Decent upgrade from an Xperia XZ1 compact. Needed a pocketable phone & the Asus Zenfone was too expensive.
Have to say, having the call audio levels, proximity sensor & speakers properly tuned to the hardware, software/security updates without having to run a non-official build of Lineage OS and AltStore-Linux for side-loading has been sweet.
I have for about a decade. I use my phone as my backup map when I am flying. It has to work, every time, without fail. I’ve never owned an android that could hold a candle to an iPhone for software stability.
Most of the western world doesn’t have to imagine
Do you have any sources for this? Afaik Samsung phones are still massively popular with young people in Korea.
Sorry. I’m just trying not to get evicted due to living in a country with the highest rent, internet, food, and data plan prices.
Sounds like Canada
You’d be correct!
Starting the comment with sorry really gave it away . Plus it sounds alot like my current situation
At least you don’t live in the city with the highest rent prices. Our countries treated housing like and investment scheme which drives up local tax revenue resulting in reduction year in year of new developments (assuming Canada has the same supply Constraints as here) . The reduction is fueled by the tax revenue however also by the increasing amount of investors and owners who vote. They don’t want their asset values to decrease so it’s artificially kept high the value component of the assets left long ago, we are in fictional valuations now.
Regarding food, their is no other way around monopoly or duopoly other than supporting farmers markets. By supporting them they can grow their base and bring down prices. Not sure what else can be done here. It’s a real problem for us here.
Electricity prices are skyrocketing here and that’s squarely landed at the feet of poor renewables planning. Mandatory coal plant shutdowns without having replacement capacity in place is killing people when the elderly & vulnerable can’t afford AC during the heat waves.
Sounds like Singapore.
Seeing that you’re from Canada, why is this so? Why is living in Canada so expensive relative to elsewhere?
Government. Not liberals or conservatives, but the government as a whole. Canada has had many years where both liberal and conservatives were in charge, and nothing changed.
Canada doesn’t allow competition. We have 3 main internet providers, 3 main phone plan providers, like 2 grocery store chains, a couple airlines, etc.
When other companies attempt to come in to break up monopolies, they lobby, and get them shut down.
I mean where are we going to go? America isn’t really an alternative, as much as Americans think it is. Our healthcare, gun laws, etc are things that make Canada really good. We could move to some European or Scandinavian country, but that’s not as easy as it sounds, especially when you need to learn a new language, get accepted, move your entire life, and live in such a different culture.
So people in Canada just accept it. Maybe one day monopolies will be broken up, but there are no parties that are going to do that now. Left or right leaning.
Not just any government, but a government captured by capitalism
Isn’t refusing to break up monopolies against the idea of capitalism and competition?
Capitalism and free markets are separate things within the economic “sphere” of society. Capitalism is an economic doctrine that focuses on directing production through private capital; free markets (in theory) ensure “equal access” to markets for products (as compared to monopoly or (economic, not necessarily drug) cartel markets which restrict access).
Over in the “public sphere”, governments decide whether to jump in bed with private capital (often resulting in monopolies or cartels in economic marketplacs), or to make & enforce regulations that protect the (so-called) free market.
Or to make and enforce regulations that protect consumers – i.e. human f-ing beings – and enrich local economies without protectionism and “zero sum games”, but I guess we shouldn’t get too carried away here ;)
Thanks for the clarification!
Government. Not liberals or conservatives, but the government as a whole. Canada has had many years where both liberal and conservatives were in charge, and nothing changed.
Huh, it’s almost as if they don’t encompass as much of the political spectrum as they’d like us to believe.
I haven’t even seen a North American have a kind of acceptable political understanding in the 2020s until now.
Plenty of real people are quite aware of our current issues, they just get drowned out online.
It’s big and cold. How much food do you think grows there? There’s actually plenty of cheap land but people like to live with other people.
If you don’t want modern conveniences, I bet it’s cheap. I bet you can live off of potatoes and chicken for like $0.
I bought 1 Samsung phone. Never again.
Same. It’s the software. I don’t want your shovelware, Samsung.
Exactly, they’re amazing and last forever, no need to ever buy two! I’ve had my Samsung tablet now for 9 years and it’s still going strong (though I’ve replaced the battery twice, but I can’t blame Samsung for the realities of battery chemistry haha), it’s still the best screen I’ve used too, bloody fantastic big AMOLED display.
Until this thing breaks down one day I’ve no need to buy any more Samsung stuff! Though when it does, I can’t wait to see what other amazing tablets they’ve cooked up in the intervening years :-D
