Last night, I spent several hours lying in bed glued to my smart phone checking out WWE and their latest talent. In particular Roman Reigns and Cody Rhodes.
WWE is an interesting phenomenon. It seems like all their fans (and even their performers) are constantly analysing it to death and talking about how much worse its gotten.
It seems like everyone is desperately waiting for someone to break-out and guide them into a new era where it’s not so forced, cringey and depressing.
It seems that this is the problem when one company becomes too dominant – they sort of lose their spirit. In this case the customers desperately want to be inspired but behind the scene it is run by executives for the benefit of shareholders.
It’s sort of like a microcosm of America, isn’t it? It seems that most people have given up on claiming their fair share of American prosperity and they are now grasping onto what seems like their part of American revivalism.
This is an interesting notion which seems to be based on the idea that economic growth can and will happen indefinitely – maybe because of the promise of space exploration and other new industries like that?
The problem is that the handful of super-giant companies (run by their soon-to-be-trillionaire founders) are the ones who, through an ethos of acquisition and innovation, capture all of the value. This is an oligopoly.
Oligopolies can be good for the consumer (if the firms are competitive) in that they drive prices down. However, what we are seeing in this specific situation is, an extreme concentration of wealth in the hands of relatively few – and an alarming reduction in overall spending power and quality of life to the public.
It seems that this public who, from my standpoint, seems to be getting poorer and poorer are grasping onto some idea of American revivalism. Like “capitalism and meritocracy is what we believe in – we love our centibillionaires and big tech companies”.
That’s fine but keeping the revival going seems to rest on a set of requirements such as forever wars, economic hegemony, unlimited borrowing, digital maximalism and exceptionalism across the board. Overall this feels like it’s in scarcity and is desperately grasping onto all the value in can.