What's behind Warren's plan to break up Facebook, Amazon and Google by melissarossi199
Presidential elections are decided by many things: media exposure, financial backing, personal chemistry, timing and luck. Policy positions often are just a way of signaling where a candidate stands on the political spectrum. But 2020 is shaping up to be different, the most ideas-driven election in recent American history. On the Democratic side, a robust debate about inequality has given rise to ambitious proposals to redress the imbalance in Americans’ economic situation.
Twenty-five years ago, back when dial-up modems hissed and sputtered to launch us onto “the Net,” few imagined that a handful of startups, with businesses largely not understood, would evolve into global monopolies as all-pervasive and powerful as the 19th-century industrial trusts. Once an innocent means to keep up with friends, social media monolith Facebook has monetized its user base through ad sales, delving into telephony, messaging and more, becoming an omniscient data conglomerate that took in net revenue of over $55 billion in 2018. Like Google, it uses algorithms to decide what to show users based on previous “likes” and engagements.
Antitrust action entered the electronic age in 1982, when the line was cut on telephone giant AT&T, which was broken into eight so-called Baby Bells. Since that time, antitrust actions, which typically focus on “consumer welfare” — i.e. prices — rather than corporate size as such, have mostly fizzled.
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