The Case for Breaking Up Big Tech
Motley Fool Hidden Gems Investing
The Motley Fool
4.3 • 3.1K Ratings
🗓️ 28 July 2020
⏱️ 3 minutes
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| 0:00.0 | With the Motley Full Money Extra, I'm Chris Hill. |
| 0:09.1 | Jeff Bezos, Tim Cook, Sundar Pachai, and Mark Zuckerberg have a few things in common. |
| 0:14.5 | They've been effective at leading respectively, Amazon, Apple, Alphabet, and Facebook |
| 0:19.6 | to such heights that these are four of the biggest companies in the world. |
| 0:24.8 | These CEOs will also be appearing together in front of a US House Judiciary Committee |
| 0:29.9 | this week. |
| 0:31.3 | At issue is whether these companies have gotten too big and should be broken up. |
| 0:36.7 | One person who thinks they should is Scott Galloway. |
| 0:39.9 | He's a professor of marketing at NYU Stern, and he's written multiple New York Times |
| 0:44.0 | bestsellers including the four, the hidden DNA of Apple, Amazon, Facebook, and Google. |
| 0:51.1 | And as Galloway has said, he's in favor of breaking up these companies in the name of capitalism. |
| 0:57.5 | Normal part of the economic cycle here in the US is we realize that through lock timing, |
| 1:02.1 | incredible execution occasionally a firm becomes an invasive species and that is it becomes |
| 1:07.6 | so dominant that it's able to perform in phantoside on small companies and prematurely |
| 1:13.1 | euthanize larger companies which tend to be good employers and good taxpayers. |
| 1:17.7 | And we've done this on a regular basis since we broke up the railroads, AT&T, aluminum |
| 1:22.5 | companies. |
| 1:24.0 | And it seems as if we've lost the script. |
| 1:26.3 | And basically the FTC and the DOJ have decided to go dorm at the last three years. |
| 1:30.2 | I think the number of actual antitrust actions filed is literally a fraction or a shadow |
| 1:36.2 | of itself. |
| 1:37.2 | And it's largely because of the Bork Chicago viewpoint of the test as consumer harm. |
... |
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