The places people can find out about your product are controlled by a very small number of companies. And those companies not only own those spaces, they also own the means of advertising on those spaces. So if you have a product you want to advertise, you're not paying to distribute your message broadly to consumers, you're paying a toll to a gatekeeper that stands between you and your potential customers.
Facebook, Google etc. are the most “fair” forms of advertising. We can dislike advertising, their influence, product etc. but when you compare them to almost every other type of advertising, they’re the best for advertisers.
The reason they generate so much revenue is because they are so accessible and because they are so easy to account for. The reason LTV and CAC are so widely understood by businesses today is because of what Google, Facebook etc. offer.
There's a personal touch that people opine for but I think that's rose colored glasses. I remember some local retailers where I liked the owners but more often they weren't anything special and sometimes they were downright unpleasant.
The thing I like about Amazon is that I can get my shopping done quickly at home then I can go socialize with people I choose to.
This is just an example if retail but I think it applies to most industries that people think have been decimated by big companies displacing local companies. The whole attitude reminds me a lot of the whole "Make America Great Again" idea. Opininig for a past that never really existed.
In a local mom and pop store, the mom and pop owned the store and were invested in the community, Their money was spent back in the same place it came from. They had a personal stake in their reputation and knew the customers, and the customers knew them. This is how a community operates. You are thinking about it as a dry 'products and services' offering, when it is much more than that. You don't live to buy products and services, you live to do other things, and a community fosters that part of your life. The 'spending money to get things you need or want' part is to facilitate the rest of your life, not the other way around.
> They also had much less generous return policies.
Why is this an issue? People who consistently rely on generous return policies are either buying shoddy goods or abusing it at the cost of everyone else. Figure out what you want before you buy it and then it won't be a problem.
If Walmart was really extracting so much money from the communities they operate in, those communities would wither and the Walmart would eventually collapse as well. Walmarts rarely close.
> Why is this an issue?
Because customers prefer better service over worse service.
You're flipping the script on this criticism. Walmart offers better service (returns) and your saying it doesn't matter. Usually people argue that The mom and pop places offer better service but can't compete on price.
In the previous comment I was about to say it but then stopped myself: the same thing happened to human relations. Competition isn't local, it's global. In dating you aren't competing against the rest of your village, you're literally competing against the whole planet, because the cute girl you see at the office can get a Tinder match from a guy in Australia and there's nothing you can do about it. Similar thing happened to friends - why would you be friends with your neighbor if instead you can be friends with a guy who lives one hour away one way but he's more fun.
Obviously, it's great to be on the winning side and bad on the losing side. If you're rich and charming then globalization has zero downsides for you. If you're not, well, welcome to capitalism.
Is this why people are so anti capitalism, because they think everything is capitalism?
Adverising isn't there to push ideas into people who didn't need to know about it. Many industries would be better off without advertising (see e.g. cigarettes) because it ends up in an arms race.