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Ten Companies People Wish Would Go Bankrupt in 2023
Everyone’s run across a company or two they wish would go out of business. Whether they were terrible at customer service or just practiced bad business, these companies are in the top ten; commenters on Reddit wish would go bankrupt.
The concert ticket giant came under heavy fire in 2022 for its role in a botched set of Taylor Swift tour dates that were in such high demand that Ticketmaster canceled the public sale of tickets for those dates. To say concertgoers were displeased is putting it mildly.
Reddit user @Kanotari had this to say about the issue. “I’m pretty ambivalent about Taylor Swift, but if her fanbase can take down Ticketmaster/LiveNation, I might just buy some of her music.”
Amway or Quixtar, a HomeGoods multi-level marketing (MLM) company in the United States, has been accused of being a pyramid scheme. Although the Federal Trade Commission decided, in 1979, they were legal because they do sell products and offer incentives for recruitment, that doesn’t make them a good company.
It certainly doesn’t do much for those who’ve been duped by the promise of wealth from the company.
Redditor @captain_redballs informed another Redditor about this barely legal pyramid scheme, saying, “Aka barely legal pyramid scheme. The only differentiator is that they have somewhat real products. But still, a huge scam as the real money is made in recruitment.”
The food and beverage processing company known as Nestle has a bad rap among Redditors. It’s not because of their products either. As Reddit user, @bonono1 explains, “nestle bro, I like their products more or less, but I just want them to be sold to other companies or smth just so that their insane unethicality is stopped.”
Nestle has been accused of human trafficking, using child labor, and other unethical business practices on more than one occasion. The fact that they’ve done next to nothing about their waste production, even killing 3 metric tons of fish in France in 2020, is just one reason this company is labeled as the ‘most hated company’ in the world.
4. Pacific Gas and Electric
Known as PG&E, this company isn’t a favorite among Reddit users. Besides being involved in the Hinkley case that made Erin Brokovich a household name, they have terrible reviews for everything from skyrocketing prices to non-existent customer service.
User @aquoad had this to say about PG&E. “…Outages all the time, pocketing rate increases without doing any maintenance so they cause even more outages, starting forest fires, literally blowing up a neighborhood because of ignored maintenance. Plus, some of the highest electric rates in the US always demanding more increases, which they use threats of outages to extract…”
When it comes to social media channels, everyone has their favorites. Facebook, however, doesn’t seem to be high on the list.
@Hoops_n_politics had this to say about the social media giant. “Facebook is a special kind of evil. Imagine creating an algorithm that makes you insanely rich, but also allows fascists to brainwash 70% of the boomers in the US. And also allows autocrats to enact genocide more efficiently. But is not sure they want to curtail their profits even if means saving democracy.”
Most cell phone companies have a love/hate relationship with the general public. People either love them or hate them, and it’s usually tied to cell reception. But Verizon racks up a pretty bad reputation on Reddit. Apparently, their customer service is severely lacking.
@ElderFields1138 said this about the company. “For sure. I used to do customer service for them and it made me never want their product.”
This company has been troubled by bad customer service, reports of poor quality clothing, refund and return troubles, delivery delays, and unethical advertising. Their 1-star reviews make up 35% of their total respondents and people don’t seem pleased overall.
User @Practical_Defiance had this to say about Shein. “Especially when they’ve been accused of using lead-based dyes in their clothes, super cheap sweatshops, and being the worst kind of fast fashion trash generators. Shein is terrible.”
Much like PG&E, Bayer has been accused of everything from groundwater contamination to supporting the Third Reich. As part of the IG Farben conglomerate, do they have the funding to pay off their detractors? Redditors sure think so.
@Deepfire_DM said this about Bayer, “They totally polluted the ground around Leverkusen where they sit, later build houses on it and children there are getting sick, of course. But nothing happens, because Bayer also paid for the sport arenas, the schools and a lot of other things, and no one wants to bite the hand that gives the money.”
Even if you like staying in cheap, sometimes odd places, there’s a vast difference between a cheap, well-maintained motel and a bedroom that costs two or three times more than that cheap motel and doesn’t offer any amenities.
Reddit was here for all the ways Airbnb fails. @OGThrowawayfratboy makes a good point about some who start an Airbnb. “
“Airbnb is what happens when inhospitable people get into the hospitality business.”
“I complained to customer service that I had funds deducted from my deposit because I left too many dirty glasses. They refunded me since I paid a “cleaning deposit,” but I got banned for calling the homeowners fraudsters.”
Even those who shop at Walmart might be in the camp for seeing them go bankrupt. There are reports that in the past, Walmart got busted for taking out life insurance policies on low-level employees and cashing them out as executive bonuses if the employee died.
User @crampedstyl made mention of what happens to towns where Walmarts are installed. “They also suck the life out of the towns they get built in…” And we all know what happens to those towns if their Walmart decides to close up shop.
Whether or not you frequent any of these businesses isn’t really the point, as most will survive with or without your patronage. When it comes to companies Redditors, love to hate, however, these are the top ten, and most for good reason. If given the chance, what business would you put under?
This article was produced and syndicated by Wealth of Geeks.