Apple jacks prices to juice profits because $19.3B a quarter isn't enough
Shareholders rejoice! Apple TV+, News+ raises prices over 40%
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Why are consumers so dumb?
Consumers are not dumb, they're just nearly powerless.
Very untrue. Consumers have the power to buy far cheaper Android phones where they have far more freedoms, but not only do the majority of American consumers refuse to do this, they voluntarily and systematically shame those who do.
Statistically, Most American consumers are pretty dumb and act against their own interests
Consumers literally do not have a choice to buy the services the article was discussing -- apple's media streamers -- from someone else. Apple monopolizes that content.
RTFA. It is not about phones.
And even for phones, to get a functionally-acceptable product, your choice is one of maybe 5 manufacturers who all tacitly collude to keep prices up and keep unprofitable consumer choices far, far away.
Workers and consumers actually have all the power, they just don't want to inconvenience themselves by using it. Collective action has destroyed empires and absolutely can annihilate multinationals.
The power to buy a product or not is all the power. Consumers may be apathetic about a price raise but they are still choosing.
And why are they powerless? That's right, dumb consumers.