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Pluralistic: Red Lobster was killed by private equity, not Endless Shrimp (23 May 2024) – Pluralistic: Daily links from Cory Doctorow
https://pluralistic.net/2024/05/23/spineless/
https://pluralistic.net/2024/05/23/spineless/
Buy successful chain, cheap out on every possible thing to maximize profit, crash brand into the ground until it's an empty shell, blame workers and customers.
Corpo greed in a nutshell.
It's a real "they live" moment when you realize any outlet covering it as because of endless shrimp is literally lying to provide cover for the worst aspects of capitalism.
TIL: monopsony (a market with a powerful buyer, akin to a monopoly, which is a market with a powerful seller)
Commercial fishing has absolutely devastated tens or hundreds of thousands of square kms of ocean and freshwater, and has critically degraded the entire planet's ecology. The experiences of animals are real and matter. Their suffering is identical in nature to your own. It harms us when we take pleasure in cruelty and violence. STOP PARTICIPATING IN ATROCITY.
That has little to do with the dynamics of private equity destroying companies which is the subject of the article.