When money interferes in a relationship, it changes the dynamic. Social norms and market rules come into conflict. For example, imagine a couple on a date, and when the man takes the woman home, he says, “I spent $100 on you today.” Suddenly, a romantic relationship shifts into a market transaction. Messages like “Next time, it’s your turn to pay” and “I did this for you today” appear. The benefits of social norms differ from those of market rules. Both are necessary, but the relationship is affected by when, how, and to whom they are applied. A person who fails to strike a balance between these two aspects risks damaging relationships and harming communities. - Joseph’s “just my thoughts”
Every business has competitors, and succeeding in business means achieving victory over the competition. Winning the competition implies creating a monopoly. One of the most traditional methods of monopolizing the market is offering rebates to buyers, often referred to as a ‘bribe,’ which is illegal. The reason monopolies are so harmful is that they infringe on customers’ choices and benefits, as opposed to merely allowing one company to dominate the market. Facebook acquired Instagram and the messaging app WhatsApp to eliminate its competitors. Although Facebook is primarily a social media platform, why would it consider WhatsApp a competitor? Because WhatsApp provides group chat services to clients, and if it expands, it could easily transition into a social media platform. - Joseph’s “just my thoughts”