It has long been my understanding that innovative business entrants are the very lifeblood of our free market society. In recent months, however, you’d be forgiven for thinking this is no longer the case.
Uber, Taxify, AirBnB, Deliveroo, Amazon, Google, along with many other modern innovators, have at times been treated like pariahs. Some of this criticism has been legitimate, with shortfalls in conduct or corporate culture rightly condemned. But much of the vitriol appears to be fuelled by those who have lost out to what is simply a more competitive and appealing business model.
Customer service deficiencies or poor practices – even those that are easily addressed – are often blown out of all proportion by competitors who whip up a social media storm among their supporters.
If one is publicly to support these new entrants, one must expect to face a campaign of vilification from the vocal blogosphere of the aggrieved.
Unfortunately, it is the case that politicians and regulators – plus the mainstream media – are guilty of being stirred by this frenzy.
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