What is it called when your greed for investor money ends up giving a giant opening for your competitor and destroying your business? Also how come even the most profitable company can't compete with deep SV pockets? Is this capitalism?
Maybe it's not investor money but issues with payment processors. Credit card companies don't like porn for some reason, and they're in a position where they can enforce such limits on many platforms.
It is, but it's not a very good one. Think about the billions that have gone into reinventing the taxi industry, the hotel industry and the food delivery industry. We don't call it 'picking winners' however, because it's not the filthy public sector doing it. And also because none of Uber, Airbnb or DoorDash can really be considered a 'win'.
State-backed capitalism has its faults, but they usually try to move billions into a strategically important area that benefits a large enough section of the economy.
