[US senator Elizabeth] Warren had different beefs with Google, Apple and Amazon, but the common thread was that she accused each one of using its powerful platform to “lock out smaller guys and newer guys,” including some that compete with Google, Apple and Amazon.
Google, she said, uses “its dominant search engine to harm rivals of its Google Plus user review feature;” Apple “has placed conditions on its rivals that make it difficult for them to offer competitive streaming services” that compete with Apple Music; and Amazon “uses its position as the dominant bookseller to steer consumers to books published by Amazon to the detriment of other publishers.”
“Google, Apple and Amazon have created disruptive technologies that changed the world, and … they deserve to be highly profitable and successful,” Warren said. “But the opportunity to compete must remain open for new entrants and smaller competitors that want their chance to change the world again.”
Before we start, I strongly urge you to watch Warren’s actual speech, instead of just reading the linked article. Warren explains clearly why the extreme consolidation and monopolisation in all manner of sectors in America is absolutely terrible for consumers, killing competition, dampening innovation, and maintaining high prices.
Obviously, this entire speech is music to my ears. Warren is the obvious – and effectively inevitable – VP pick for Democratic nominee Hillary Clinton, meaning that if she were to beat the Republican nominee come November, the United States will have a Europe-style democratic socialist as vice-president. Obviously, this has the monopolistic US companies and their corporate cheerleaders shaking in their boots.
Thanks to the unexpectedly successful Sanders campaign, Clinton is effectively forced to pick Sanders’ friend and ideological compeer as her VP, directly threatening the free ride these companies have been getting for decades since the Reagan years, perpetuated by both Republicans and Democrats ever since. It won’t be immediate – the VP position is more of a mindshare podium than one of policy-making – but it represents a huge shift in how the United States government and its politics treat the business world.
There’s a reason Tim Cook is raising money for Paul Ryan.