this post was submitted on 13 Jul 2025
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Running a successful restaurant is very difficult. It takes a lot of skills. Competition is brutal.
Running a successful hotel is difficult. It takes a lot of skills. Competition is brutal.
Running a business like TD, RBC or Rogers is actually easy. 3/4 big companies share the banking market and the telecom markets. They pretend to compete but there is so few of them that their CEOs can meet regularly in private to coordinate. Meanwhile, their customers don't have any alternative and are trapped.
This is why Banks and Telecom companies should pay a lot more taxes.
More taxes, and use that money to create a publicly-owned competitor. If the private sector wants to compete, they'll either have to be better or cheaper than the public option, or both.
Also, re-nationalize the infrastructure. In Canada, taxpayers paid for hydro and telecom construction, then all of that infra was included in the privatization of those sectors. Bell has been profiting for decades by charging people to use the copper that was installed on the public dime.