Multi-national billion-dollar (now, even trillion-dollar) conglomerates have much more power and influence than you'd imagine. After someone in a popular internet forum asked, “If you had the power to shut down a company for good, which company would it be?” These are the top answers.
1. Nestlé
Hundreds of people individually volunteered – Nestlé. And the top comment received 26,000+ votes. One shared, “They are a massive organization making junk food with harmful chemicals and additives.”
If something is bad for the body, they'll hire scientists to do studies that “prove” something in their favor. Another claimed, “Nestlé is an unethical business that takes clean drinking water in areas that need it, participates in human trafficking and child labor, and exploits uneducated mothers in third-world countries.”
Boycotting Nestlé is nearly impossible, as they have their hands in every cookie jar. From baby food to Pfizer, Nestlé owns and produces it.
2. Meta
As Nestle is bad for humans and the planet, Meta is bad for humans and society. Like other social media, their algorithms polarize society into hating each other. For example, if you see a specific type of content, Facebook will take you to an echo chamber of the same content.
It will make you dislike people in echo chambers of opposing views. Then there is the misinformation spread via Facebook and Instagram. Whatsapp is safe for now, but they constantly keep changing it, and who knows when it will become like all the other social media sites.
3. Shein
Another explained that Shein is a Chinese online fast fashion retailer. In the U.S., they rival Amazon. They're one of the most popular e-commerce apps in several countries worldwide. However, the company is banned in India, as they have stricter China bans than other countries.
When you browse their app for affordable clothes, it might seem like a steal. But their employees are primarily dissatisfied with their policies, wages, and work conditions. Shein supports fast fashion. Clothing trends start and end quickly, and inventory is often handled poorly. As a result, it ends up in landfills, polluting the environment.
4. Ticketmaster
Ticketmaster Entertainment (Live Nation Entertainment owns them) is an American ticket sales and distribution organization. You can buy and sell tickets for concerts, sports events, movies, etc.
One Redditor pointed out, “Tickets are $20? Cool. But as I'm checking out, it's plus taxes, fees, shipping and handling, insurance, arbitrary fee, nonsense fee, exploration fee, parking fee, and it'll be $189 for nose bleed seats, please.”
5. All MLM Companies
MLM (multi-level marketing) is a strategy “a sleazy one” used by some direct sales companies to sell products and services. It's also called a pyramid scheme for everyone who isn't in one. The people at the top end up using newcomers' money and time to make money themselves.
Some big companies that use MLM are Herbalife, Amway, Avon, Thrive, Melaleuca, etc. They play on their salespeople's and customers' hopes and dreams, promising them they'll get rich. Sadly, many stay-at-home moms fall victim to these predatory scams. Beware: It's also called network marketing.
6. The Church of Scientology
One Redditor stated, “The Church of Scientology is a group of corporate entities and other organizations devoted to the practice of Scientology. Scientology is a body of beliefs or a “religion” and techniques created by L. Ron Hubbard, an American author.
Of course, everyone should have the right to practice their religion. Still, when a church becomes a for-profit company influencing the decisions of millions, that becomes a problem.”
They continued, “Churches should remain as long as they positively serve their community. They're not supposed to operate as a corporation or force members to become missionaries. The Church of Scientology is known for harassing ex-members and anyone who speaks out against them.”
7. BlackRock
One joked that if you haven't heard of BlackRock, get out from under that other rock where you've been living, “sorry, I had to.” BlackRock is a multi-national investment company based in New York City.
It is one of the largest financial institutions in the world, with trillions of dollars under its management. Yes, trillions with a “T.” Someone suggested, “It's just too much power for a single organization. They can legitimately claim to own the world.”
8. John Deere
Many admitted they wouldn't buy John Deere products because of their repair policies and compulsory software installed in all tractors. It wasn't like this a few years ago, but they've made significant changes that hinder users from immediate repair themselves.
9. Most Insurance Companies
There is no shortage of people complaining about the struggle they had to go through to get some insurance money. On top of that, some types of insurance are mandated by the government. For example, you must buy vehicle insurance even if you don't want to.
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10. News Corp
Owned by the mighty Murdoch family, this company is hated by many in the thread. One shared, “They stand accused of conducting several misinformation campaigns to further their interests and make money. And it is on a global scale.” Many agreed that shutting their papers and media down could lead to a fair spread of information and news.
What do you think? Did Reddit get this right, or do you fully support the companies on this list? This article was inspired by the internet and did not necessarily reflect the views of Finance Quick Fix.
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Featured Image Credit: Shutterstock – Frederic Legrand – COMEO.
