Next week, the Home Judiciary Antitrust Subcommittee will bring the CEOs of Google, Facebook, Amazon, and Apple to Washington and ask about their anticompetitive company practices. Except for Apple, there’s just one response: We are guilty.
Though anticompetitive practices were forbidden more than a century earlier, deregulation has actually prevailed considering that Ronald Reagan took office in1981 Thinking the marketplace would always designate resources efficiently, the federal government stopped playing its standard function as industrialism’s umpire. The Reagan Revolution released economic growth that resulted in an extended period of prosperity and a concentration of financial power. Over the past 20 years, the abundant got much richer, while half of the country dealt with static incomes. No place is this lawlessness more rampant today than among big tech companies, who’ve utilized their power to crush competitors, suppliers, company partners, and even consumers.
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ABOUT
Roger McNamee( @Moonalice) is the author of the New York Times best seller Zucked: Awakening to the Facebook Catastrophe He spent 34 years as a technology investor and was an early investor in Fa
