Share

Warren says tech giants have 'too much power,' need breakup

Share

NEW YORK (AP) — Democratic presidential candidate Elizabeth Warren on Friday rolled out a proposal to break up the biggest U.S. technology companies, saying they have too much control over the economy and Americans’ lives.

In her pitch to rein in the influence of tech giants, the Massachusetts senator envisions legislation targeting companies with annual worldwide revenue of $25 billion or more, limiting their ability to expand and forcing parts of Google and Amazon’s current business structure to operate as separate entities.

As president, Warren said she would pick regulators who would seek to break up what she called “anti-competitive mergers” such as Facebook’s recent purchase of Instagram and Amazon’s acquisition of Whole Foods.

She made the pitch ahead of a rousing town hall appearance Friday in the New York City neighborhood where Amazon recently scrapped plans to open a new headquarters.

It’s Warren’s latest effort to shape the policy agenda for the rest of the Democratic presidential primary, coming after earlier announcements of a “wealth tax” plan on households with high net worth and a universal child care proposal.

Trending:
Massive Peanut Butter Recall Issued After People Begin Falling Ill, Here's How to Tell If You Need to Trash Yours

Her tech agenda, coming at a time of rising public concern about the growing power of the dominant players, could force the rest of her rivals for the 2020 nomination to follow her lead.

During remarks before a crowd of more than 1,000 people in Queens, Warren touted elements of her new tech-industry plan as part of her stump speech. She took aim at Amazon’s search for lavish economic incentives from cities competing for its headquarters, likening the company’s efforts to pit areas against each other to the dystopian film “The Hunger Games.”

“That’s what’s wrong with the system. It’s not just that big tech companies like Amazon have enormous market power, which they do. They have enormous political power,” Warren told the audience, describing the industry’s lobbying expenditures as a “good return on investment if they can keep Washington from enforcing the antitrust laws.”

It remains to be seen whether Warren will introduce legislation in the current Congress aligning with the first element of her plan. A spokeswoman, Kristen Orthman, said a bill introduction was not imminent.

Warren’s latest policy proposal also promised to be a central element of her scheduled visit Saturday to the South by Southwest conference in Austin, Texas.

Sen. Kamala Harris of California represents the tech industry’s home state, while Sen. Cory Booker has come under scrutiny for his past ties to tech companies — though he’s stepped up his criticism of the industry in recent years.

Facebook spokeswoman Monique Hall said the company had no comment on Warren’s proposal. Representatives for Google, Amazon, Microsoft and Apple did not immediately respond to a request for comment.

___

Associated Press writers Tali Arbel and Nick Jesdanun in New York contributed to this report.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

Truth and Accuracy

Submit a Correction →



We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

Tags:
Share
The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands.
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
Location
New York City




Conversation