meta_pixel
Tapesearch Logo
Log in
Axios Re:Cap

Amy Klobuchar deals with mergers

Axios Re:Cap

Axios

Daily News, News

4.5705 Ratings

🗓️ 20 May 2020

⏱️ 11 minutes

🧾️ Download transcript

Summary

Uber and Grubhub continue to haggle over the terms of a possible merger, but Senator Amy Klobuchar has already expressed concern that it would hurt competition and raise prices for customers if it happens. Senator Klobuchar joins Dan to talk about that deal, Facebook buying Giphy, and how to handle mergers during the pandemic more broadly.  PLUS: Podcasting gets its Howard Stern moment and big questions about that Moderna vaccine

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to Axis Pro Rata, where we take just 10 minutes to get you smarter on the collision of tech, business, and politics.

0:11.0

Sponsored by Bridge Bank. Be safe. Venture wisely. I'm Deppermak. On today's show, podcasting gets its Howard Stern moment and some big new questions about that Moderna vaccine.

0:22.6

But first, Amy Klobuchar.

0:27.3

She is, of course, the senior senator from Minnesota and possible running mate for Joe Biden this November. She's also part of a growing Democratic Party chorus against large mergers, particularly

0:32.7

in the tech space. On Sunday, Klobuchar tweeted her opposition to Uber's possible takeover

0:37.2

offer for rival

0:38.2

food delivery company Grubhub, saying it would be bad for consumers. Then on Monday, she doubled

0:43.4

down, calling it, quote, a pandemic-driven deal and then suggested that Trump antitrust regulators

0:49.0

should also dig into Facebook's agreement to buy Giffy. Why it matters is that Klobuchar is a

0:53.8

moderate by Democratic

0:54.8

Party standards, which suggests the center is moving closer to the progressive left when it comes

0:59.3

to big corporate mergers. Klobuchar co-signed the letter with Elizabeth Warren, asking the

1:03.4

Treasury Department and Federal Reserve to block potentially harmful large mergers by companies

1:08.5

that have received stimulates grants or loans, although hasn't yet

1:11.7

signed on to Warren and AOC's so-called Pandemic Monopoly Act legislation, which would bar all

1:17.3

large company mergers until the pandemic's economic strain is eased. In short, all of this

1:21.9

indicates that the tech lash could be warming its way back into the political conversation,

1:26.0

particularly as we all become more

1:27.7

and more reliant on on-demand services in the coronavirus era. In 20 seconds, we will go deeper with

1:33.5

Senator Amy Klobuchar. But first, this. Bridgebank knows the ins and outs of business ups and

1:38.4

downs and remains dedicated to providing financial solutions to sponsor-backed emerging technology

1:42.9

and growth companies for nearly two decades. Through its national network of banking teams and offices and tech

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Axios, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Axios and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.