Key point. This hearing is not just a one-off, it is *part* of an investigation. @davidcicilline says they have millions of documents from both the companies as well over a hundred competitors. #bigtechbarons
Now @JimPressOffice is giving the GOP opening statement. So far it's a reasonable statement, talking about dominance, making the point that "big is not bad." Serious statement discussing data and market structure. Bipartisan, this is good. #BigTechHearing
This is the stock price of #bigtechbarons since this investigation began. Trillions of dollars in an increase of market capitalization. #BigTechHearing
Love @RepJerryNadler bringing Emanuel Celler and his anti-monopoly subcommittee into the conversation. #BigTechBarons
This is amazing, just like the hearings I read when I researched Goliath.
Time for @Jim_Jordan. "Big tech is out to get conservatives." Talking about the World Health Organization and China, Amazon banning Trump and Twitch. #bigtechbarons
So far hearing nothing about monopoly or competition.🤔🤔🤔
What's so irritating about @Jim_Jordan is that everything he's talking about is *a monopoly problem* but he's here to defend monopoly and then harangue the monopolists for not being nicer to what *he thinks.* #BigTechHearing#BigTechBarons
It's kind of funny that @Jim_Jordan doesn't get to the defense of #BigTechBarons because it just doesn't fit in his haranguing of #bigtech for conservative bias. Jordan is now being a clown and being disruptive. @davidcicilline shuts him down hard.
It's so great that @davidcicilline made it 100% clear that this hearing is serious and that you don't fuck with him. #BigTechBarons
Jeff Bezos is now up talking up how awesome his Mom and Dad are. #BigTechBarons
"It is still Day One for this country." - Jeff Bezos
That's very much a 'what is good for General Motors is good for America' answer.
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Can we admit Obamacare was a disaster and Obama was a bad President yet? Or are we still pretending that Biden is the problem because he’s not cool? time.com/6279937/us-hea…
If the Rs has an alternative beyond ‘feed sick people into a woodchipper’ they would have implemented it already.
1. A lot of people involved in the TikTok debate are saying 'hey but we aren't regulating our own social media firms so going after TikTok is cray cray.' But there is actually a lot Biden is doing to regulate social media and data you just don't know about. So let's take a look.
2. First, the Federal Trade Commission has banned Meta from tracking kids and using surveillance advertising to kids, and Meta is in litigation which it is slowly losing.
3. Second, the Antitrust Division has *two* cases where it is seeking to break up Google, and the FTC has an antitrust case where it is seeking to break up Meta and another where it is trying to break up Amazon. All involve heavy use of data.
Here's WH Press Secretary reading out talking points denying the 20% cut to the Antitrust Division budget. It would be nice if more than 5 people in the administration knew anything about the administration's policies.
It’s also nonsense. DOJ number #2 and ex-Apple lawyer Lisa Monaco’s absurd slush fund got a boost of $2 million from six months ago, the Antitrust Division got gutted.
The most charitable reading is they are dumb and don’t care. The least charitable reading is Lisa Monaco is working on behalf of big tech while at DOJ.
Not to get all Will Stancil, but it is weird how little anyone on Twitter wants to give credit to Biden for doing good stuff. Like he cuts overdraft fees and the response is 'More half measures! Yay. I wonder how watered down this will get if it even happens.' It did happen!
I mean @joebiden and @PeteButtigieg preside over the smoothest travel season in a decade after massively punishing Southwest and there's zero interest, even from Buttigieg fans.
@JoeBiden @PeteButtigieg There was so much shit-talking about Biden after he ended a possible rail strike with a promise of getting workers sick days. Union-buster! they said. But he did help get them sick days just a few months later. theguardian.com/business/2023/…
Media corruption is so obvious. Yesterday there was a historic antitrust win against Google’s monopoly. Does NY magazine cover it? Nope. They release a bad faith hit piece on Lina Khan and anti-monopolists.
“fatal to a once-in-a-generation movement to dramatically transform government antitrust policy, for better or worse”
This is literally published 5am the day after Google lost a historic antitrust case.
This story was published literally the day after the FTC’s historic win against a killer acquisition in biotech, where Khan blocked a monopolist charging $750k a year for treatment from wiping out a possible rival.