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Private Equity–Backed Firm Bowlero Is Ruining Bowling
(jacobin.com)
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Reminds me of a story about the New York Mafia.
Back in the day, there was a third rate gang. They couldn't break into gambling, prostitution, hijacking, drugs, or any of the big money rackets. Then they realized that every business in the city needed a garbage pickup. In a few months they'd managed to scare off all the competition, because who is going to go to the wall fighting over trash collection.
Same thing applies. No small owner has the resources to compete, and the bowlers will have to go the whatever lanes are open.
This reminds me of a story I read a long time ago about Dutchmen who moved to America and ended up collecting waste in Chicago. At some time, the Mafia decided the trash business was too lucrative, so they decided to take over. It didn't work out because the Dutch owned the land fills, and they closed ranks against the Mafia. Found somewhat of a source online: https://www.swierenga.com/ChicagoDutchGarbios.html
Interesting story. Thanks.
Good to know so much of our economy is propped up by Mafia tactics. It doesn't speak ill of our entire system or anything.
As with so many things, you can trace this back to Reagan.
When they made the New Deal laws they wanted to make sure that innovation was rewarded. When Ronnie "deregulated" things it became easier to gobble up the competition instead of out thinking them.