>>> ANOTHER DAY AND ANOTHER BIG DAY SHOOT THE PROPOSAL FOR A
DEMOCRATIC PRESIDENTIAL
DEMOCRATIC PRESIDENTIAL CONTENDER FROM SENATOR ELIZABETH
WARREN THAT PROPOSED BIG IDEAS
INCLUDING A WEALTH TAX AND
UNIVERSAL CHILD CAR.
WARREN’S PROPOSAL LAID OUT TODAY
AND IN A SPEECH IN QUEENS IS TO
BREAK UP THE BIG TECH COMPANIES
INCLUDING AMAZON, GOOGLE AND
FACEBOOK ON ANTI TRUST GROUNDS,
ONE OF THE ISSUES IS THAT THESE
COMPANIES CONCURRENTLY SELL
PRODUCTS ON PLATFORMS THEY OWN.
EARLIER TODAY SHE EXPLAINED WHY
THAT’S A PROBLEM.
>> WHAT THIS IS ABOUT IS ABOUT
COMP
COMP COMPETITION.
COMPETITION. IT’S ABOUT LITTLE BUSINESSES AND
STARTUP BUSINESSES AND
ENTREPRENEURS WHO WANT TO PUT
THEIR PRODUCTS ON AMAZON OR ON
GOOGLE AND WHO ARE AN ENORMOUS
COMPETITIVE DISADVANTAGE BECAUSE
AMAZON OR GOOGLE, IF THEY LIKE
THE MONEY THEY SEE THAT YOU’RE
MAKING BECAUSE THEY GET ALL THE
INFORMATION, THEY DECIDE TO GO
INTO COMPETITION WITH YOU AND
PUT THEIR PRODUCT ON PAGE ONE
AND YOUR PRODUCT BACK ON PAGE
SIX AND KILL YOUR BUSINESS.
>> JOINING ME NOW FOR MORE ON
WARREN’S BIG PLAN AND PROPELS,
DEMOCRATIC STRATEGY ELS TARAIST
AND SAM.
AND SAM. LET ME START WITH YOU SAM ON THE
DETAILS.
DETAILS. HOW BIG IS THIS IN THE CONTEXT
OF WHAT WE HAVE SEEN FROM ANTI
TRUST ENFORCEMENT?
TRUST ENFORCEMENT? >> THE BIGGEST WE’VE SEEN.
IT IS A HUGE, HUGE MORE THAN A
WARNING SHOT.
WARNING SHOT. IT’S A WE’RE COMING AFTER YOU,
IF I WIN.
IF I WIN. AND A KIND OF WARNING THAT IS A
WARNING WITH CAV YACHTSEATS IN I
HUGE STATEMENT SHAKING A LOT OF
PEOPLE IN SILICON VALLEY.
>> IT WOULD MEAN BREAKING UP THE
COMPANIES.
COMPANIES. SEPARATE DIFFERENT PARTS OF
THEM.
THEM. >> SO FAR IT SOUNDS LIKE MOST OF
IT WOULD BE SORT OF UNDOING,
REVERSING THESE MERGER AND
ACCUSATION DEALS OVER THE PAST
FEW YEARS.
FEW YEARS. FOR EXAMPLE, TAKING INSTAGRAM
AWAY FROM FACEBOOK.
TAKING AWAY --
>> WHAT’S THAT.
>> SO SORT OF MAKING THEM,
PAIRING THEM DOWN A LITTLE BUT
NOT SPLITTING THEM UP INTO A
BUNCHT OF
BUNCHT OF BUNCH OF DIFFERENT PIECES.
>> SEEING BIG TECH AS A THREAT
WHICH THERE IS GROWING POLITICAL
MOMENTUM AND THIS IDEA PRIMARY
WE’RE SEEING THE DEMOCRATIC
PARTY WHERE PEOPLE ARE PUSHING
THE BOUNDARIES OF WHAT A
DEMOCRATIC AGENDA LOOKS LIKE.
>> I THINK THERE IS A THIRST IN
THE DEMOCRATIC PARTY AND THIS IS
A MANIFESTATION OF THAT.
THERE SAY THIRST FOR DEMOCRATS
TO BE BOLD, UNEQUIVOCAL AND
UNAPOLOGETIC IN TERMS OF
FIGHTING FOR DEMOCRATIC VALUES.
I THINK WHAT YOU’RE SEEING IS
VOTERS ARE REALIZING GENERALLY
SPEAKING NOT JUST DEMOCRATS BUT
DEMOCRATS ARE PROFESSING IT
DIFFERENTLY.
DIFFERENTLY. ALL VOTERS ARE REALIZE SOMETHING
ISN’T RIGHT.
ISN’T RIGHT. THEIR INCOMES ARE STILL THE SAME
BUT YET WORKING HARD AND THE
PRODUCTIVITY IS UP IN THIS
COUNTRY AND HOMEOWNERSHIP IF
YOU’RE AFRICAN AMERICAN IS LOWER
THAN BEFORE.
THAN BEFORE. IN PAST YEARS AND SO I THINK
VOTERS ARE FEELING THAT AND ON
THE DEMOCRATIC SIDE, DEMOCRATS
ARE PUSHING FOR THE PARTY TO
PRIORITIZE, WORKING POOR PEOPLE,
POOR PEOPLE, MIDDLE INCOME
PEOPLE, SMALL BUSINESS OWNERS
LIKE MYSELF AND THAT’S WHAT YOU
SEE.
SEE. YOU SEE THESE BOLD IDEAS COMING
OUT AS A RESPONSE TO THAT.
>> THESE ARE SOME OF THE BASIC
INCOME FOR CHILDREN THAT IS A
DEMOCRATIC POSITION BREAKING UP
BIG BANKS HERE.
FREE COLLEGE, THE GREEN NEW
DEAL, LEGALIZING MARIJUANA,
MEDICARE FOR ALL, PAID FAMILY
LEAVE, UNIVERSAL CHILD CARE, A
WEALTH TAX.
WEALTH TAX. THOSE ARE -- THAT’S A VERY BIG
AGENDA.
AGENDA. I MEAN, THOSE ARE FROM DIFFERENT
CANDIDATES.
CANDIDATES. ONE OF THE ADVANTAGES OF THIS,
THOUGH, THIS DOESN’T REALLY NEED
60 VOTES IN THE SENATE, RIGHT?
THIS DOESN’T NEED TO GO THROUGH
LEGISLATION.
LEGISLATION. THIS IS THE THING YOU CAN DO AS
PRESIDENT.
PRESIDENT. >> WELL, SO WHAT WARREN SAID IN
THE POST AND IT’S WORTH NOTING
THIS IS JUST A BLOG POST.
SHE’S NOT TALKING LEGISLATION AT
THE MOMENT.
THE MOMENT. THIS IS ALL SORT OF 10,000 FOOT
VIEW BUT SHE WANTS TO OR SAID
SHE WOULD APPOINT REGULATORS
WHOSE JOB IT WOULD BE TO MONITOR
BIG FIRMS FOR INFRACTIONS AND AT
THE MOMENT, BUT ALSO FACILITATE
THAT SPINNING OFF PROCESS AND
CUTTING INSTAGRAM AWAY THE
PROCESS.
PROCESS. THAT SOUNDS LIKE SOMETHING SHE
COULD DO ON HER OWN OR LESS.
>> THAT IS SOMETHING I ALSO
THINK THAT WE WILL, I WONDER IF
WE’LL SEE THAT MORE IN THE PROOR
MAY
MAY -- PRIMARY.
-- PRIMARY. IF MITCH MCCONNELL IS THERE AND
NOBODY GETS RID OF THE FILLER
BUSTERS, WHEREAS YOU CAN DO
THINGS IN EXECUTIVE AROUND
MARIJUANA ENFORCEMENT.
MARIJUANA ENFORCEMENT. YOU WONDER HOW MUCH WE’LL SEE
IDEAS THAT DON’T NECESSARILY
DEPEND ON THE CONGRESS.
>> AS SOMEONE THAT WORKED IN
GOVERNMENT, I CAN TELL YOU YOU
HAVE A LOT OF DISCRETION WITHIN
A DIFFERENT AGENCIES TO WRITE
RULES AND PROTECTIONS AND THAT
IS WHAT YOU SEE.
YOU SEE THE TRUMP ADMINISTRATION
FOR EXAMPLE USING THOSE POWERS
AND UNWINDING THOSE PROTECTIONS
THAT WERE PUT IN PLACE UNDER THE
OBAMA ADMINISTRATION.
OBAMA ADMINISTRATION. SO I THINK YOU WILL SEE MORE A
SAVVY DEMOCRATIC PARTY AROUND
MAKING CLEAR THAT THEY WILL USE
WHAT POWERS THEY WILL USE,
EXACTLY.
EXACTLY. >> IT’S BEEN SO LONG SINCE WE’VE
SEEN AN FTC WILLING TO TAKE ON
BUSINESS INTEREST.
BUSINESS INTEREST. THE TRUMP FDC HAS BEEN ASLEEP AT
THE WHEEL AND AGGRESSIVE FDC
THAT WOULD WANT TO CRACK DOWN ON
SOME OF THESE THINGS THAT WARREN
LAID OUT WOULD BE SHOCKING.
>> THAT’S THE AMAZING THING
ABOUT THIS REVIVED ANTI TRUST
MOVEMENT, THERE IS ALREADY
REGULATORY BODIES, STATUTORY
AUTHORITY IN PLACE.
THE CRAZIEST THING IS IT JUST
HAS NOT BEEN USED IN A
PARTICULARLY AGGRESSIVE WAY IN
ESSENTIALLY 30 YEARS BECAUSE OF
A REVOLUTION IN THE WAY ALL THIS
STUFF WAS DONE.
>> WELL, I THINK THE OTHER THING
YOU SEE AS A SMALL BUSINESS
OWNER, I EXPERIENCE THIS ALL THE
TIME AND SEE IT, WITNESS IT.
YOU SEE WHEN COMPANIES GET BIG,
THE FIRST THING THEY DO IS
INCREASE THE BARRIERS OF ENTRY
TO KEEP PEOPLE LIKE ME FROM
GETTING INTO THE PROCESS.
>> A STORY ELIZABETH WARREN
TOLD.
TOLD. AMAZON WILL SIT THERE AND SAY
YOUR PLATES LOOK NICE, WE’RE