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Organizing markets around this one value, profit, is why they are so effective at delivering competition, efficiency and growth.
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"We're not going to see AT&T delivering local competition like we thought they would," predicted Robert C. Taylor Jr., chief executive of Focal Communications, a new local carrier based in Chicago that focuses on business customers.
Miriam Lyons from GetUp said the market is failing to deliver the competition needed to protect consumers' interests.
In the 1990s he forced unions to bid against the private sector to deliver services, competition that saved the city $230m over five years.
"We are glad that this issue will now be considered afresh and are hopeful that the outcome will finally deliver increased competition in pay-TV which would be in the best interests of consumers," said a spokeswoman for BT.
This comes despite Sir Richard repeatedly describing the number of remedy slots on offer as "derisory", and his spokesperson arguing that Virgin cannot deliver "effective competition" if awarded fewer than all 12.So why is Virgin relinquishing slots that it fought so hard to secure?
"Secondly, we believe that further consideration should be given to a 14-14-14 model, whicancan be constructed in a way that ensures there is no loss of games but will deliver greater competition through the leagues, particularly with the implementation of play-offs.
Moreover, even if the Net Neutrality rules are applied, the FCC has taken opening the networks to deliver direct competition off the table, which would have allowed you to choose your cable, broadband or Internet provider over the wires coming into your home or office.
BBC chairman Gavyn Davies has described the FA Cup as a "second-rate competition", delivering a hammer blow to the Football Association's hopes of negotiating a lucrative new deal for TV coverage of the tournament.
On the one hand, the racing was undeniably exciting, with the close and intense competition delivering plenty of skilful overtaking action, thereby solidifying the potential within the eSports aspect of the game – both from a player and spectator perspective.
Who would have thought that we'd be standing on stage at the 2016 Cupid's Cup Entrepreneurship Competition delivering a five-minute pitch for $75,000?
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com