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Matt Stoller Profile picture
@matthewstoller
Sep 29, 2020 • 4 tweets • 3 min read • Read on X
Follow-up to the giant big tech CEO grillings. Thursday is a hearing on how to re-write antitrust. I'm hearing that, once again, @Jim_Jordan is pushing for pro-big tech nonsense. Meanwhile @RepKenBuck is actually trying to fight monopolies. Split among Rs. wsj.com/articles/break…
So @Jim_Jordan tried and failed to sabotage the big tech CEO hearing a few months ago. He's relentlessly working on behalf of big tech.
Ok so @Jim_Jordan's witnesses for the Antitrust big tech hearing follow-up are Christopher Yoo and Tad Lipsky. Both are funded by Google, Facebook, and Qualcomm.

There are some good Republicans on that subcommittee but Jordan is owned by big tech. It's embarrassing. ImageImage
If @Jim_Jordan wants Google and Facebook to write the antitrust laws, he should just be honest and invite reps from those companies directly. axios.com/scoop-lawmaker…

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More from @matthewstoller

Matt Stoller Profile picture
Feb 20
The basic problem with America is that nearly all of our major institutions are led by vastly overpaid incompetent greedheads who all have agreed to not snitch on each other. It's easy to explain how to fix it once you get this basic diagnosis. Here are a few ideas.
1) Corporate boards are full of lazy kiss-assers who get $100k to show up to a meeting a few times a year. So how about this? No board members of a company can get paid while there's a strike going on at their company.
2) The Federal Reserve actually runs our economic policy. So how about saying that not all of the Fed board members can be millionaires? Some of them have to be borrowers and not just lenders.
Read 11 tweets
Matt Stoller Profile picture
Jan 26
Deepseek is forcing the entire Silicon Valley ecosystem to recognize that Lina Khan was right, even if they won’t admit it.
Here’s the point. ftc.gov/system/files/f…
American big tech firms are bad at building things because their focus is not on building things, it’s on monopolization and political power. No different than Boeing. This has been obvious for years. thebignewsletter.com/p/national-cha…
Read 4 tweets
Matt Stoller Profile picture
Jan 25
So an insane story by @musharbash_b, a private equity roll-up of fire trucks is why more than half the fire trucks in Los Angeles were out of service during the catastrophic wildfires in the Palisades and Eaton. Image
Link: thebignewsletter.com/p/did-a-privat…
I do a lot on economic termites, this one's a big deal. Cities all over the country have to pay twice as much for fire equipment as they used to because there's now what appears to be some sort of fire equipment cartel. Image
Read 4 tweets
Matt Stoller Profile picture
Jan 23
1. Diversity, Equity, and Inclusion is bad because it was a way of taking the civil rights movement - which was about prohibiting economic discrimination at its core - and corrupting it to serve corporate interests. Here are some examples, starting with UnitedHealth Group. Image
2. Biglaw's Latham and Watkins bragged their team keeping poultry price-fixers out of jail was a historic 'all-women team' of defense lawyers. Image
3. Here's financier Brian Regan - who rolled up anesthesiology and radiology practices so he could price gouge - boosting the Women's Private Equity Summit. Equity is awesome! Image
Read 16 tweets
Matt Stoller Profile picture
Jan 17
1. Want some fun news before the Monday inauguration that you won't have heard anywhere else? The antitrust enforcers (Lina Khan et al) went full Tony Montana on big business this week before Trump people took over. Here's just part of what they did. Image
2. The FTC filed a monopolization claim against agricultural machine maker John Deere for generating $6 billion by prohibiting farmers from being able to repair their own equipment, a suit which Wired magazine calls a “tipping point” for the right to repair movement. Image
3. They also released another report on pharmacy benefit managers, including that of UnitedHealth Group, showing that these companies inflated prices for specialty pharmaceuticals by more than $7 billion. Image
Read 21 tweets
Matt Stoller Profile picture
Jan 6
There’s a nontrivial chance that Trump’s new term is the actual catastrophe that liberals imagined his first one would be. I don’t mean authoritarian, I mean economic, military and social collapse.
Here's why I think there's a nontrivial chance of a serious dislocation under Trump. It's not because of him, per se, but structural things he won't fix.

Here are a few. The U.S. net international investment position is negative $23 trillion and sinking rapidly. That's crazy. Image
That doesn't mean the U.S. will go 'bankrupt,' that concept can't apply to nations. It means the U.S. is trading our entire productive capacity for finance. For instance, we're now a net food importer by value. What? Our farmland is awesome. And yet... Image
Read 13 tweets

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