Ever wonder why your eyeglasses cost nearly as much as an iPhone? It all comes down to a good old-fashioned monopoly on the eyeglass market for both spectacles and shades. Luxottica controls almost 80% of the eyeglass market in the US, owning almost all major brands and eyeglass stores. The company announced a USD 46 bn merger with Essilor International back in January. The combined entity would hold a near 27% market share of the global market, with Johnson & Johnson coming in at a far second at a mere 3.9%.

Luxottica’s monopoly has allowed it to dictate terms to and bully its competitors, a new documentary claims. It dropped Oakley from its stores when the latter challenged it on pricing, then took over the company when its share price dropped. Oh, and they also own the second-largest insurance company in America. It is unclear why antitrust regulators have let it go. But by maintaining the illusion of variously branded glasses and stores, the company has managed to create the illusion of a variety of choices. We’re not ashamed to say we learned this from the latest episode of College Humor’s Adam Ruins, which breaks down the whole the story (watch, runtime: 4:17).