Have you been actually reading what Warren is up to?
I've underlined her definition below. $25B in global revenue and providing a platform. Gee - why not consider the costs of maintaining that global infrastructure? And for the record, most small businesses benefit from having access to a platform that runs on a robust global infrastructure. If they didn't, they wouldn't be there. How is Warren planning to maintain and improve that global infrastructure?
And do you see any reference there to monopoly power? What is her litmus test for that? I haven't seen anything intelligent coming from her on that front. So yes, until I do, I am going to say she is arbitrarily drawing lines and making soundbites to make herself look good and in the process she is causing real damage. Tech companies have been mostly apolitical to left leaning - thanks to Warren, they may now sing the praises of small government and no regulations.
And finally, why is she is picking on tech? Of all the evil companies I can imagine, Amazon, Google, etc are not even in the top 20. Why isn't she going after HMO's, Big Pharma, Big Oil, or Defense - oh, she doesn't want to pick a fight with someone who can punch back hard - the hell with how big of a problem they really are.
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Sen. Elizabeth Warren Wants to Break Up Big Tech
Presidential candidate and Democratic Sen. Elizabeth Warren wants to break up America’s largest tech companies, including Amazon, Google, and Facebook.
“Today’s big tech companies have too much power?—?too much power over our economy, our society, and our democracy,” the Massachusetts lawmaker wrote in a blog post published Friday on Medium.
The senator’s proposed legislation includes designating the tech giants as “platform utilities” and appointing regulators to break up mergers that harm market competition. She defines “platform utilities” as companies earning a global annual revenue of $25 billion or more and that “offer to the public an online marketplace, an exchange, or a platform for connecting third parties.”
fortune.com |
