Earlier quoted context omitted.
One thing on the ontology of capital: once enough capital (billions, trillions) is gathered in one single control point there is a phase transition: from a means towards an end (build X, destroy Y) it becomes a manner of escaping reality: with enough (crony or not) capital you can keep afloat a business no matter how bad it is, how badly run, how useless or how dangerous the products. Not that 'there is no skin in th…
Whereas with government, you can keep afloat a government no matter how bad it is, how badly run, how useless or how dangerous it is. Except, as opposed to a company, it can’t crash like Enron or be threatened by competition. It doesn’t even need to fight to stay afloat.
Enron was a weak company, nowhere near the escape reality velocity: at peak, in 2000, they had a market capitalization of $60 billion, at the same time Microsoft was at $600 billion [1].
Also, any company worth their capital knows very well that "competition is for losers" [2] and dreams of the ultimate consolidation [3].
[1] The Largest Public Companies by Market Cap (2000–2022), https://www.visualcapitalist.com/cp/largest-companies-from-2...
[2] Competition Is for Losers, https://www.wsj.com/articles/peter-thiel-competition-is-for-..., https://www.youtube.com/watch?v=3Fx5Q8xGU8k
[3] The Consolidation Curve, https://hbr.org/2002/12/the-consolidation-curve