Earlier quoted context omitted.
Competition partially causes this though. When you have 100 brands selling the same thing it became a race to the lowest price.
My experience is competition invokes two races happening at the same time, one for lowest price and one for highest quality. You can get a cheap car or really high quality car. Same goes for clothes, restaurants, basically anything where there is lots of market choices and competition.
Let's make quality the norm again
251–260 of 506 posts
Re: Let's make quality the norm again
#252I personally see two effects that are very detrimental here: 1) "Quality brands", where you pay a premium to get high quality/durability products, are economically incentivized to "sell-out" (cash in the brand name by producing as cheaply as possible). This is because customers take some time to catch on, and short-term financials are too often more important than anything else. 2) Increasing trend towards no-name pr…
So they've gotten quite good at the pump n dump of getting everyone in the spin class on some new $300 polyester outfit every two weeks. It is probably brutally formulaic how refined the playbook is for these sorts of companies.
Re: Let's make quality the norm again
#253Re: Let's make quality the norm again
#254Earlier quoted context omitted.
Demand collateral
That's what bonds are for. US customs requires prepaid bonds for other things. Importers who don't have enough assets would have to post a bond to cover repairs for the product. They get it back at 10 years.
Apple/MS/Google would have to keep their products working for 10 years.
Re: Let's make quality the norm again
#255Quality was never the norm: cheap always beat quality with a hand tied behind his back! Western working class has spent decades complaining about cheap imports from China... while feeding that market with their own money. Western frequent fliers keep reminiscing about the grandiose pre-deregulation era or air travel, but cry a river when their low-cost carrier of choice actually enforces the limit on cabin baggage. E…
Even if you don't buy from China directly, you can't prevent local brands outsourcing their production, because all of them do It.
Re: Let's make quality the norm again
#256Earlier quoted context omitted.
That doesn't make any sense. The most expensive cars are also the least reliable. Rich people have multiple cars so when the Bentley has an electrical glitch they just drive the Porsche.
Quality means different things to different people. But the fact that Bentleys and Porsche exist support that case that not everything in a competitive markets drives things to the lowest cost product.
Re: Let's make quality the norm again
#257Earlier quoted context omitted.
Yes, this is quite common and is usually referred to as "it's expensive to be poor". That said, unfortunately these days it's very difficult to know which brands are still actually quality anymore and which are the ones still coasting on previous good engineering reputation while currently shipping substandard crap to make an extra buck for the bean counters in charge before the ship sinks.
Everything has become a lemon market: https://en.wikipedia.org/wiki/The_Market_for_Lemons Even if a brand stays solid for 100 years, for all I know as I'm standing there in the store deciding whether to buy something, private equity bought them two quarters ago and hollowed them out. Harvard MBAs/private equity sees brand reputation as just another resource to be converted into money. If I were a billionaire my dream…
Some brands kind of split up so products sold in one market is cheap knockoffs while products sold in the home market is still high quality manufactured at the old factory with 100 years old machinery and experienced workers. If you want to buy quality you've got to do deep research first.
Re: Let's make quality the norm again
#258Earlier quoted context omitted.
> it’s expensive to be poor https://en.wikipedia.org/wiki/Boots_theory “The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money. Take boots, for example. ... A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. ... But…
It really pisses me off there are used car lots that obviously prey on the poor. I asked for their cash price and they wouldn't give me one, or it was ridiculously priced. They just want for people to pay off a debt and all the interest that goes with it.
'buy here, pay here' lots sell a car, and do the financing. They buy cars at auction, fix them if they have to, then sell them. The down payment money usually covers the auction cost of the car. Then every 2 weeks, the buyers drops by with a payment. The buyer stops paying, the car is repossessed. And then it is sold again. The dealer wins in both directions; the buyer pays a lot of money in finance charges, and if it is repossessed then you don't have to buy new inventory at the auction.
Poor people with bad credit way over pay for cars both ways. One a little worse than the other.
Re: Let's make quality the norm again
#259Quality was never the norm: cheap always beat quality with a hand tied behind his back! Western working class has spent decades complaining about cheap imports from China... while feeding that market with their own money. Western frequent fliers keep reminiscing about the grandiose pre-deregulation era or air travel, but cry a river when their low-cost carrier of choice actually enforces the limit on cabin baggage. E…
But I think your point is the vast majority, and that point probably stands, and indeed is a huge problem.
Re: Let's make quality the norm again
#260Earlier quoted context omitted.
I should do that. I have almost 900 Steam games, the vast majority of which I have never touched. Over the years with sales and Humble Bundles, I've just hoarded the games because I might someday want to play it. Instead all I seem to do is replay Donkey Kong Country 2 and Streets of Rage 2.
Just have AI agents play them for you and have Opus write a summary. AI to the rescue!