Businesspeople understand the risks of competition, which is why they seek to extinguish it. The harder it is for your customers to leave - because of a lack of competitors or because of lock-in - the worse you can treat them without risking their departure. This is the core of #enshittification: a company that is neither disciplined by competition nor regulation can abuse its customers and suppliers over long timescales without losing either:
https://pluralistic.net/2023/01/21/potemkin-ai/#hey-guys
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It's not that public institutions can't betray they public interest. It's just that public institutions can be made *democratically* accountable, rather than *financially* accountable. When a company betrays you, you can only punish it by "voting with your wallet." In that system, the people with the fattest wallets get the most votes.
When public institutions fail you, you can vote with your *ballot*.
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Admittedly, that doesn't always work, but one of the major predictors of whether it will work is how big and concentrated the private sector is. #RegulatoryCapture isn't automatic: it's what you get when companies are bigger than governments.
If you want small governments, in other words, you need small companies. Even if you think the only role for the state is in enforcing contracts, the state needs to be more powerful than the companies issuing those contracts.
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