"You might as well endeavor to stay the formation of the clouds, the falling of the rains, or the flowing of the streams, as to attempt in any manner to prevent the aggregation of capital." - S.C.T. Dodd of Standard Oil, 1900, from his book "Trusts"https://twitter.com/naval/status/1266214595326210052 …
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Matt Stoller Retweeted Naval
People from Silicon Valley who have a lot of money are so often mediocrities who repackage the Divine Right of Kings without knowing they are doing so. It would be nice if we didn't worship them.https://twitter.com/naval/status/1266214595326210052 …
Matt Stoller added,
7 replies 19 retweets 124 likesShow this thread -
Replying to @matthewstoller
Attack all you want but you’re attacking a straw man.
3 replies 0 retweets 19 likes -
Replying to @naval
The reason there's "one town hall, one social network, one video host, one music label, one taxi dispatcher, one big-box retailer," etc as you put it is not bc antitrust law is "obsolete" but bc we got rid of antitrust law in the early 1980s. It's not nature, it's policy.
5 replies 1 retweet 24 likes -
Replying to @matthewstoller
Ok, we are in agreement. When I say “obsolete,” I mean that it hasn’t kept up with the new reality of information aggregators, which are more monopsonies than monopolies.
4 replies 1 retweet 25 likes -
Replying to @naval
Ok, I see your point, which is different than I'd understood. The problem with the 'obsolete' framing is it ignores policy agency. Monopsony power was part of the law prior to the 1980s. Amazon isn't our first aggregator, we had buying aggregators in the 1880s (Standard Oil!).
3 replies 1 retweet 14 likes
I'd love to see you both take your respective experiences in the Senate and then in investing/entrepreneurship to come up with ideas for how to make the web more genuinely competitive going forward.
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