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Elisabeth Warren is right- We must break up facebook Google and Amazon (2…
Elisabeth Warren is right- We must break up facebook Google and Amazon
1.The titans of the new Gilded Age
innovations : railroads,..
second Gilded Age
America’s first Gilded Age :19th c
new set of barons/ handful of hi-tech behemoths
bust up giants : Facebook,..
same answer : bust up the monopolies.
must be busted
2.The current effort is bipartisan
seeking to buy anything
amazon : stifle innovation
first step : news (93% receive news online)
sell any item at a lower price
digital ads : fcb and google
control : rival publishers
90% of all internet searches = google
Google : search engine
own services and content
fcb’s purchases of WhatsApp and Insta
new job-creating : has halved since 2004.
3.privilèges/ frauds :
Zuckerberg : plan to “encrypt” personal information
more comprehensive data
Facebook withheld evidence
The New America Foundation / financing of professors
homeless shelters
justifying Google’s market dominance.
back down on a plan to tax big corporations
What to do? : should be regulated like utilities or common carriers
holding an auction
policing content and overseeing products and services.
amazon : paid nothing in federal taxes
to break them up
A wealth tax
larger than the combined wealth of the bottom 1/2 usa population.
robber barons : generous philanthropists
Monopolies aren’t good for anyone
The combined wealth of Monopolies
to respond as forcefully as we did the first time around
startups could flourish.
information : ind channels without a centralized platform