#BoldBiz has all your business headlines with David Grasso and John Burnett!
Posted by BoldTV on Tuesday, June 20, 2017
About a year ago, a survey conducted by Harvard University found that a majority of millennials reject capitalism. While it may not be smart, millennials rejecting capitalism does make sense. After all, young people rejecting the status quo is really normal by historical standards. A common thread of logic for young people in a world of economic turmoil is to blame the system as a whole for one’s troubles.
Capitalism isn’t perfect — it can be easy and even tempting to look at any economic downfall in our society and blame the system as a whole.
Our next headline is from the Wall Street Journal and is about Amazon’s blockbuster purchase of the high-end grocery chain Whole Foods. The grocery business, which suffers from low margins and intense competition, has been thrown another curveball with Amazon’s entrance into the industry.
The article points out that Amazon’s purchase could help Whole Foods with their notoriously high prices, but that many challenges remain for Amazon. The company known for getting items delivered to your door doesn’t have a lot of experience getting food to people’s homes on a mass scale, and that entire fulfillment process is more complex than Amazon’s existing model.
Our last headline is about Google and Facebook’s ad duopoly. The two companies alone comprise half of the spending in the global online ad market. Right now, no company appears to be nipping at their heels, but there are some possibilities like Amazon, AT&T, Verizon, and Snapchat — which signed a deal worth a hundred million dollars with Time Warner this week.
Google and Facebook continue to see incredible growth, and they have purchased companies that have challenged their dominance like WhatsApp and Instagram.
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