Government-sanctioned rent-seekers are not the only kind. The comment by User23 was about payment system rent-seekers in general, with no mention of the government.
The original comment I replied to was about a software as a service company that was a “rent seeker” because it helped businesses manage thier tax liability.
At one small company I worked for, we paid SAAS companies for:
- expense reporting and reimbursement (Concur)
- managing payroll
- Managing retirement benefits
- source control hosting (Github)
- Infrastructure (Microsoft Azure)
- Salesforce (I don’t know what they do)
- Training and Compliance
- Chat (Slack)
- Email, Office software (Microsoft Office 365)
- vending services
Etc.
How are these companies any different than the company that helps businesses manage tax collection? They all saw a business opportunity and my company was glad to pay them so it could focus on its niche.
At one small company I worked for, we paid SAAS companies for:
- expense reporting and reimbursement (Concur)
- managing payroll
- Managing retirement benefits
- source control hosting (Github)
- Infrastructure (Microsoft Azure)
- Salesforce (I don’t know what they do)
- Training and Compliance
- Chat (Slack)
- Email, Office software (Microsoft Office 365)
- vending services
Etc.
How are these companies any different than the company that helps businesses manage tax collection? They all saw a business opportunity and my company was glad to pay them so it could focus on its niche.