A Disturbing Trend in Corporate America

Some corporations are claiming the need to raise prices, yet are experiencing record breaking profit quarters.

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TIMESTAMPS:
0:00 - Intro
0:46 - Big Oil Profits
1:55 - Difference Between Millions & Billions
2:42 - Procter & Gamble Record Profits
3:55 - Big Corporation Landlords are the Problem
5:10 - Carvana & Their Shady Business Practices
7:27 - Father Garcia Selling Carvana Stock
9:38 - Why Carvana is Failing
10:12 - Sysco Cost Spike Despite Record Profits
10:35 - Final Thoughts

SOURCES FOR VIDEO:

[Dodgerzden]

The definition of ethics in the corporate world is, "Anything that is legal and anything that is not legal that you can get away with".

[JDiggity]

When the price of some goods goes up 300% in response to a 10% inflation rate, you know there's some corrupt crap going on

[alchapopapo]

As a (million dollar) small business we still have not put our prices up, even though we have experienced increases across all our materials. Instead I have negotiated better deals and purchased higher volumes to bring overall price back down...
And then we all win.. me and my customer still benefit.
We take a modest wage.. its all we need!

[spectreshot]

The company I work for, Pep Boys, raised just about every price by roughly 20-25 percent. Their reason, that they told us, was 'Everything is going up with inflation. '
Then when raises came out for employees who worked through the entire Rona? .5 percent.

[okhaeadeleye]

The problem with moves like this is that the prices will hardly ever go back down to pre inflation prices.

[spoonkiller_actual]

The recurring theme here is that there is very little competition, especially when you look at consumer goods and staples, there are lots of brands on the shelves but all are owned by a few conglomerates.

[ManicMas]

What made me care about this stuff is when my landlord (cooperation) said they were going to charge me just under $2200. My rent was $1650. Around a $550 increase. I had to leave and almost was homeless because of not being able to afford this. Cooperations are too greedy and give no care for the working people. Mind you, they are advertising that same apartment for $1700 but yet for me to keep it, it’s almost $2200. They rather see more money than a loyal tenet. What a joke…

[bronknowsbest]

these are the type of videos I like to see from spencer, as someone who works as a senior manager for a tech giant - the market is being pigeon held by greed so the consumers/citizens are bearing the brunt of the blowback.

this is what happened with the housing crisis of 2007-08, commercial real estate & banks got super greedy & were essentially gouging people which led to defaults & evictions on majority of citizens. then it all imploded on itself & sent us into a downswing for over a year.

they say we have history to avoid the mistakes of previous times - I believe that the main objective & goal is to repeat history b/c unfortunately people are imperfect & tend to have the same values when placed in position to exploit. especially under the guise of capitalism majority of humans will do what was previously done b/c of the _"they did it, so why can't I?"_ mindset.

we're more leaning into (if not already there) a plutocracy mixed with aristocracy day by day.

[Fanaro]

8:20 This is the peak of the era of financialization: it's 10x more profitable to pull off financial tricks than build anything.

[NOTYMU]

Used to work for equity residential for 2 years as a leasing consultant few years back. Was paid minimum wage, got maybe 20 bucks comish to rent out a 2 bedroom apartment 600 sq feet for $2800. Lease renewals with insanely high % hikes, and nothing we could do for the residents but send a request to lower the percentage to the “higher ups” to review - and most of the time, reject the “negotiation” of the % renewal hike. I couldn’t stomach the greed, and could barely afford to Live with the pay they provided. Renting at an equity property with a employee discount was a scam as well, having to pay random fees to equity, which brought up the tab, making the discount almost irrelevant. Overall, dumped the gig after 2 years bs, changed careers, best decision of my life. They’re crooks.

[chrispeters]

This was a great video. I live in Charlotte, NC and I have heard about Carvana here being terrible. Highlighting these companies is the only way to stop the gaslighting of the consumer.

[JulianGentry]

Feels like a bunch of corporations know something big is coming and are milking customers for profits to build up cash to prepare...

[SM-ogpt]

Oil companies have no incentive to invest for the future if they are going to be regulated out of existence.

[bigemvee]

Really happy someone is talking about this!

[kyle]

I sold a car for more then what I paid to carvana even after putting 12k miles on it and driving it for about a year. I really think a lot of people are going to be under water in a few years with prices being paid for cars.

[wrxtr]

The root cause: Monopoly/Oligopoly status; Close to Zero Antitrust legislation enforcement <—- the corporations own BOTH sides of congress.

[shadeitplease]

The profit motive corrupts all. A public company is gonna pass as much of any cost increase on to the customer as possible in consumer unfriendly ways. If we don't pay for it the shareholders have to. And we know all about their "fiduciary duty".

[darrell]

He was right on point when you talked about apartments taking fees from all applicants whether they get the the place or not. My wife and I had this happen to us a few years ago before buying our home. We where house/apt hunting. This one particular place charged to fill out the online application. We never heard anything back from them after calling and emailing them. And they still had room up for rent online. So my wife called her credit card company and got her money back. I called mine and they wouldn’t refund me (bank of America). So I paid my bill and canceled my credit with them. So this place just collected money from people and probably never filled the rooms.
And don’t get me started on plumbers, electricians, ac repair and etc who charge 100$ just to come check on something. So we have no way of knowing if what they’re saying is right or wrong. The price they’re quoting is good or bad. Because if I call over 3 different guys to come look at the same problem, I’m getting charged 100$ by each regardless so I’m losing no matter the outcome.

[j.g.]

Late stage capitalism is so fun. I love playing Russian roulette with what bill I will no longer be able to afford next month

[FletchforFreedom]

Simple question: Does "greed" always exist and is a factor in human behavior or does it magically rise and fall for no apparent reason resulting in massive economic changes?

I could go into the massive economic illiteracy here, the complete misunderstanding of stock buybacks, the reliance on non-economist and economic illiterate Robert Reich for anything of value, the factual inaccuracy of the "record profits" fairy tale or the gross misunderstanding of what inflation is and the hilarious economic incompetence of believing that corporations charge whatever they want but the fundamental question above is one that I have yet to find anyone blaming "greed" for anything has ever been able to answer.