When venture capitalists pour money into blitzscaling, the result is a pack of unicorns that can sell their products below cost, disrupting incumbents not necessarily because they are technologically superior but rather because they are subsidized by venture dollars. In ride hailing, for example, venture capitalists paid for artificially cheap fares for passengers, forcing incumbent taxi operators to compete on a distorted playing field. The moral and political justification for tough market competition is that it should be fair. If the market is rigged, it loses legitimacy.
