When Keyana Sapp, 31, went shopping for a new backpack, the brands he remembered as a kid were just not the same.
He researched the companies, from North Face to JanSport and Eastpak, and soon realized they were all owned by the VF Corporation after a wave of acquisitions in the 2000s. After a Reddit post he made about his discovery picked up traction, he started looking at other types of consumer goods – cookware, shoes, tools, clothing.
“It seems like that was a story that just repeated in every industry,” Sapp told the Guardian.
Late stage capitalism phase. Everything is owned by fewer and fewer companies, which have fewer and fewer regulations, and more and more influence. Politics lies in bed with them. Fascism is the current next step, which is trying to solidify this fusion of megacorps+government for a long time. With this comes fewer and fewer rights for consumers and citizens.
I think that we are now witnessing that capitalism has failed because it got too unregulated and companies grew too powerful. And this systemic collapse will cause a lot of tragedy until it’s replaced in the far future.
In other words, capitalism has failed because it’s capitalism.