[generic92034]

> So yes - in a reasonably functioning capitalist market (which the U.S still is in my eyes) I expect gross inefficiencies to not be prevalent.

I am not sure that is true, though. Assume for a moment that Google would waste 50% of their profits. Truly, a huge inefficiency. However, would that make it likely some other corp could take their search/ad market share from them? I doubt it, given the abyss of a moat.

[AnimalMuppet]

True. Therefore, what?

One could say: True, therefore search is not a reasonably functioning capitalist market.

Yeah, I know, this can turn into "no true capitalist market". Still, it seems reasonable to say that many markets work in a certain kind of way (with lots of competition), and search is not one of those markets.

[generic92034]

The parent was referring to the whole US as "market". In that sense the numerous exceptions and non-functioning markets invalidate the statement, IMHO.