Elizabeth Warren…is there anything she won’t regulate?
The Massachusetts Democratic Senator delivered a speech during an event for New America, a public policy think tank in D.C., in which she claimed that, like many of the big Wall Street banks, some of the tech companies have become “too big to fail” and that something needs to be done about it.
Warren claims that the premise of too big to fail is found all across the United States economy, including in Silicon Valley.
In addition to going after the likes of Wal-Mart and CVS, Warren is demanding the Federal Trade Commission (FTC) to tackle Google, Apple and Amazon. What for exactly? She accuses the three tech titan of incorporating anti-competition practices. To Warren, this is unacceptable behavior.
For instance, she cited Google favoring its own services on its own search engine instead of highlighting rivals’ products and services.
Warren stated that companies have the right “to be highly profitable and successful.” However, according to the senator, “But the opportunity to compete must remain open for new entrants and smaller competitors that want their chance to change the world again.”
This isn’t the first time that Warren has attacked the tech industry.
In May, she accused Uber, Lyft and Airbnb of helping the top 10 percent and that the sharing economy was ruining the health of workers because they don’t receive health insurance, vacation pay or benefits.
“In a healthy economy, disruption is inevitable. But disruption means it’s time to adapt to changing circumstances,” Warren said. “Most workers aren’t asking for the moon. They want to be able to take care of their families, buy a home, send their kids to college, and save a little money for retirement.”
Should anyone really be listening to Warren anyway? This is the same woman who said she’s Native and that the federal minimum wage should be $22.
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