Greg Jericho

trying to get them to compete and that's the real trouble because they dominate so much that they don't feel the need to compete against each other they compete almost with each other against everyone else and when you do see them fight they don't so much fight over price they fight over oh if you you know spend 20 bucks you get a little disney figurine or things like that they they fight over the sort of the edges of the marginal things and not actually over prices

Oh, look, more competition is definitely what we need.

What we saw, for example, when Audi came into the market, that actually did set off a price war because Colson Woolies were really scared.

And then what we unfortunately saw is everyone kind of settled into their market share.

You know, there's only so much that Audi is able to grab given competition.

It certainly doesn't have as many supermarkets as Coles and Woolies.

And yeah, if Lambo guy comes in, he's clearly not going to be able to compete directly with Coles and Woolies.

It's more likely he'll be competing either with Audi or other smaller sort of corner store style supermarkets and groceries.

So that's the problem is that they're so big and they have such, they're so entrenched.

And not only they're entrenched, they also own plots of land where another supermarket might wish to put a supermarket sub-time, but Coles or Woolies already own that with plans to one day maybe they'll put it there if it's profitable for them, but it's certainly not profitable for them to allow anyone else to build there.

So...

It's a pretty tough problem in that sense.

And unfortunately, a rich guy coming in and saying, I'm going to set up some supermarkets.

Yeah, it might work in a small geographical area, but certainly we're not in a national sense.

I mean, divestiture powers are basically where you have a company or companies who essentially control all of the market and you split them up.

The government forces them to sell up parts of their business.

A classic example, one that many people think should happen, would be a company like Meta and saying, okay, you basically control all the social media markets.

You've got Facebook and Instagram and WhatsApp controlling

We're going to force you to sell off Instagram, sell off WhatsApp.

So certainly diversity of powers is something I've also been calling for because they're kind of a last resort, a nuclear option when you do have a company that has such potential.