Presley Smith

Why Do People Hate Presley Smith?

Presley Smith is the CEO of Smith Enterprises, a major conglomerate with interests in technology, pharmaceuticals, and consumer goods. However, Smith has faced ongoing criticism over the years for some of his business practices.

Patent Controversies

One of the major areas of controversy involves patents. Critics argue that Smith Enterprises has unfairly used the patent system to stifle competition. For example:

  • In 2009, Smith Enterprises patented a small component in their smartphones. Competitors argued this was too broad and basic to deserve patent protection but were forced to license the patent at high fees.
  • In 2015, Smith Enterprises patented a medication that was about to go off-patent. This extended their exclusivity and prevented cheaper generic versions from coming to market.
YearPatent Controversy
2009Broad smartphone component patent
2015Medication patent extension

These incidents suggest Smith Enterprises has utilized patents in ways that many view as unethical or unfair.

Acquisition of Rivals

Additionally, Presley Smith has gained notoriety for acquiring rivals, leading to less market competition. For instance:

  • In 2018, Smith Enterprises purchased a major competitor in the smart device industry. This led to significant layoffs due to redundancy.
  • In 2020, Smith Enterprises acquired an emerging pharmaceutical company working on a novel diabetes drug. Some criticized this as a calculated move to eliminate an innovative rival.

This habit of acquiring competing companies has positioned Smith as a cutthroat businessperson who crushes opposition versus supporting open market innovation.

Public Statements on Wealth Inequality

Smith’s remarks regarding economic issues like wealth inequality and progressive taxation have also sparked backlash.

Despite his estimated $100 billion net worth, he has scolded proposals for:

  • Wealth taxes
  • More progressive income tax brackets

In a now-infamous interview, Smith said people should “stop complaining about inequality and go out there and work 80 hours a week to make something successful like I did”. Many characterized these comments as flippant and self-aggrandizing.

Is Smith Misunderstood or Problematic?

When assessing public animosity towards Presley Smith, reasonable cases can be made that he is either:

  • Misunderstood as callous but acting rationally in competitive markets
  • Truly as self-interested and undermining of innovation as critics contend

There are no definitive answers. Regardless, his controversial statements and business tactics rub many the wrong way. Yet he still has numerous defenders and a successful conglomerate driving returns for shareholders.

The Case for Understanding Smith

  • Argues patents protect investment in vital R&D to drive progress
  • Acquiring rivals seen as reasonable consolidation amid cutthroat competition
  • Rejects higher taxes as discouraging entrepreneurship that powers growth

The Case Against Smith

  • Patents seem to block competition not protect critical R&D
  • Acquiring emerging rivals stops disruptive innovation
  • Comments show no empathy for those struggling economically

Public interpretation sits across this spectrum of opinions on Presley Smith and his business empire.

Ongoing Legal Allegations

To further complicate views of Smith, he currently faces legal scrutiny regarding his company’s allegedly questionable practices:

Predatory Pricing Investigation

  • FTC investigation over predatory pricing allegations in the medical supply industry
  • Critics claim Smith Enterprises slashed prices to undercut rivals and gain market share

This builds on existing narratives of Smith improperly wielding market power.

Advertising Practices Lawsuit

  • Class action lawsuit alleging certain supplements were deceptively marketed
  • Plaintiffs argue advertisements misled consumers on health benefits

An ongoing case, it further fuels public disdain for perceived duplicity.

Tax Avoidance Hearings

Lastly, Smith’s public reputation suffered from recent tax avoidance hearings in Congress:

Offshore Tax Strategies

  • Congressional investigation found Smith uses offshore corporate structures
  • This allegedly enables avoiding domestic corporate income taxes
  • Smith defended tactics as compliant but public saw it as tax avoidance

The high-profile criticism and scrutiny explained why so many ask: why do people dislike Presley Smith? Rightly or wrongly, his business empire and personal conduct undermine his reputation.


In summary, Presley Smith provokes significant public criticism due to recurring controversies surrounding his business empire and personal conduct. These recurring issues fuel narratives that Smith represents corporate greed, stifling innovation, evading taxes and more through his business practices.

Defenders argue Smith is merely competing successfully in capitalist systems and acting reasonably to build shareholder wealth. But critics contend he does so through ethical shortcuts, monopolistic leverage, and indifference to economic inequality impacting society.

These competing perspectives will likely continue driving perceptions of Smith across a spectrum from misunderstood to problematic. His reputation hinges on resolving legal cases and confronting deeper public sentiments on wealth inequality and corporate ethics.

Smith is nonetheless likely to remain a controversial figure with vocal critics until substantive changes emerge in either his business empire or greater economic systems enabling his extraordinary consolidated success.

Frequently Asked Questions

Does Presley Smith have monopolies through his company?

No, Presley Smith does not technically have any outright monopolies. However, critics argue some of his business practices utilize patents, acquisitions, and pricing leverage to establish strong market control and undermine competitors. This borders on monopolistic-style market dominance in select industries according to his detractors.

Is Presley Smith’s company ethical in its practices?

Opinions diverge greatly on the ethics of Smith Enterprises’ business practices. Supporters argue it engages in reasonable, lawful competition to become a successful conglomerate. However, critics contend several practices involving patents, acquisition of rivals, pricing strategies, marketing tactics, and tax avoidance amount to unfair or deceptive conduct that stifles market competition and innovation.

Does Presley Smith support higher taxes on himself or wealth inequality reduction?

No, Presley Smith does not support proposed wealth taxes or higher income taxes on top earners. He rejects these policies as discouraging entrepreneurship. Smith also sparked criticism for insensitive public comments dismissing concerns around economic inequality and urging people to work more. Many characterize Smith as self-interested and tone deaf regarding these issues.

What legal issues does Smith or his company currently face?

Smith Enterprises faces a Federal Trade Commission (FTC) investigation regarding predatory pricing strategies that undercut and attempted to monopolize medical supply sales. Additionally, Smith Enterprises faces a class action lawsuit over allegedly deceptive advertising and marketing for certain supplements the company sells.

What tax issues has Presley Smith faced scrutiny for?

Congress recently investigated Smith for alleged tax avoidance through use of offshore corporate subsidiaries. This structures reportedly enable Smith Enterprises to shield billions in profits from domestic corporate taxes. Smith claims the structures are compliant but faces public criticism for perceived tax avoidance since the public dislikes economic inequality.

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