Exactly, the just have this infatuation "Against big-tech"
these companies have record profits because their products have been indispensable throughout a pandemic the media and government got catastrophically wrong. this is the exact opposite of "harming" consumers, which you'll need to prove to dismantle the industry but go off.https://twitter.com/profgalloway/status/1289195817971007488 …
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we never really got to deep dive into the nation states convo when we were chatting wednesday, but these cos are essentially world powers. doesnt breaking them up create more shareholder value long term? i feel like as a VC u would look at amzn vs blue aprn & get terrified right?
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A few issues - there is the principled argument against breaking up big cos. who haven’t been shown to be guilty of a crime besides being “too successful”. Also, the fact that IBM and MSFT weren’t there should say something about the need to break up “invulnerable monopolies”,
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Great tweet. 100% agree.
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These critics live in a zero-sum world, forgetting that all things were once just an idea.
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He's embarrassing.
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Don’t signal boost that guy, just ignore him
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Who has to prove harm? Doesn’t it just take widespread anger and politicians willing to pander to the electorate? What of that is hard to imagine at this point?
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Assuming the consumer welfare standard is the only lens with which one can view antitrust. Part of the beauty of the Google & Facebook models is that their market power isn’t exercised on the consumers - it’s exercised on the product firms that advertise with them.
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Similar idea with Visa: The market power is exercised not on the product user, but on the businesses with which they transact. The consumer welfare standard that you reference is a highly useful strategy for the Tech monopolies to duck behind.
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