Policymakers should ignore the tech CEOs patriotic appeals - Business Insider

In the congressional hearing Wednesday into antitrust concerns in the tech industry, the four CEOs who testified all touted their companies American roots, and Facebook's Mark Zuckerberg warned of competition from China.

Policymakers should ignore such appeals, because they're meant to distract from the real harms the companies are causing, and the best way to compete with foreign rivals is through innovation, which monopolies throttle.Making an appeal to national sentiments — or, relatedly, warning about the dire threat from foreign competitors — is also a time-worn tactic of corporate leaders who seek to evade scrutiny of their companies' behavior or shed what they see as onerous regulations.

Apple, CEO Tim Cook said, is "a uniquely American company whose success is only possible in this country." "China is building its own version of the internet focused on very different ideas, and they are exporting their vision to other countries," warned Mark Zuckerberg, the CEO of "proud American company" Facebook.

Indeed, such patriotic or nationalist arguments go back as far as the 1910s, during some of the first efforts in the US at breaking up monopolies, said Matt Stoller, the author of "Goliath: The 100-Year War Between Monopoly Power and Democracy." What's more, many of the companies that are being quashed by the tech giants have American stories too. We shouldn't ignore, for example, how Amazon used underhanded tactics to undermine Quidsi, the owner of Diapers.com, or how it allegedly throttled the business of a small company that sold books through its site just because Amazon has lots of American workers and Jeff Bezos was born to a single mother.

techinsider Their patriotism is justified. Question is What are you wrapped in ?

Page not found.

FreeAllan

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Dow gains 163 points following Fed meeting, Big Tech testimony - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

A key federal appeals court just ruled Michael Flynn's case isn't over yet - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Look up railroaded It has this guy’s picture right there!
Source: BusinessInsider - 🏆 729. / 51 Read more »

Tech antitrust: Recap of Bezos, Cook, Zuckerberg, Pichai testimony - Business InsiderCEOs from Apple, Amazon, Google, and Facebook had to defend their companies against what lawmakers called 'a pattern of' monopolistic behavior. Here's how each was grilled during Wednesday's landmark hearing. Your links never open in Nigeria
Source: BusinessInsider - 🏆 729. / 51 Read more »

Toronto is emerging as a tech superpower as immigrants choose Canada over the US - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Lmao I would choose Canada too False equivalency between tech talent and immigrants. Definitely cheaper though but not for long Toronto is Canada's Portland, left wing city council. 😂
Source: BusinessInsider - 🏆 729. / 51 Read more »