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Antitrust is coming for Big Tech, at least according to one business expert.
Prof. Scott Galloway, of the NYU Stern School of Business, said it will take some time, but there will a bipartisan breakup of Big Tech. “I believe DOJ or FTC action perhaps supported by attorney generals [sic] in states, maybe even red states, that file antitrust action” will happen. He was speaking to Fox Business host Stuart Varney of Varney & Co.
Varney - Galloway - Intent - Amazon - Facebook
Varney addressed Galloway’s intent of “going after the Amazon, Facebook, Googles of this world” and cited a recent clip where even Rep. Jerry Nadler (D-NY) spoke on the implications of Big Tech monopolies.
Galloway, author of The hidden DNA of Apple, Amazon, Facebook and Google, elaborated on how for the past 30 years the pretext for antitrust action has been consumer harm. Times and technology have changed, and those in politics need to understand that there is a different game being played entirely, he said. “They claim ‘if it's free, how can there be consumer harm?’ The consumer is the advertiser and the advertiser doesn't have many choices here.”
Galloway - Nadler - Comments - Tech - Companies
Galloway then addressed Nadler’s comments on how Big Tech companies protect their monopolies on power, “small, great companies are being prematurely euthanized in the crib and when they can't kill them, they buy them.”
The example he cited of...
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