Not quite; some of this is about moving wealth around, changing the captured value to favor the buyer instead of the seller.
But that’s just the “efficient market” part of this. A fee like this could very well be an inefficient rent-capture that has managed to make its removal more expensive in the short-term than the short-term cost of allowing it to remain. Said less charitably, it’s a racket.
I would have thought that on HN of all places, where so many folks are attempting “disruption” (ie finding these unnecessary market inefficiencies and stepping around their cultural/legal/systemic barriers in order to reap some of the otherwise captured value), this would be better understood.
lol - one way or another the buyer is paying for it. If sellers operate at a loss for too long, they won't have that thing to sell any more :p
Overhead is overhead. Trying to pretty it up with fancy language like "moving wealth around" and "changing captured value" doesn't alter the fundamental economics.
But that’s just the “efficient market” part of this. A fee like this could very well be an inefficient rent-capture that has managed to make its removal more expensive in the short-term than the short-term cost of allowing it to remain. Said less charitably, it’s a racket.
I would have thought that on HN of all places, where so many folks are attempting “disruption” (ie finding these unnecessary market inefficiencies and stepping around their cultural/legal/systemic barriers in order to reap some of the otherwise captured value), this would be better understood.