system
Given the following post, respond as if you're commenting on Reddit:
human
Are there any real life evidence of drawbacks of privatization?

I finished high school level Economics and learned about benefits and drawbacks of privatization. I was impressed about the pros (I learnt plenty examples on this), but I was not persuaded about the cons. 

Can you give any real life examples of drawbacks of privatization and, if possible, what have the policymakers done so far to limit them?
gpt
Russia, after the fall of communism, privatized much of its state owned industry. Their method of doing so ended up with a lot of politically connected oligarchs who ran large companies with little competition.

Privatization works well when there's competition and good incentives by the government. That doesn't always happen.