Lawmakers and regulators are increasingly talking about antitrust action and possibly breaking the companies up into smaller pieces.
One group of technology companies in the U.S. are Google, Amazon, Facebook and Apple. The other group is in China, dominated by Baidu, Alibaba, Tencent, Huawei and TikTok-maker ByteDance.
I can’t help but think China is laughing their ass off at how stupid Americans are to attack their biggest tech corporations that are in competition to China’s big tech companies. Are the Chinese thinking, listen, don’t worry about American competition– Americans are so stupid that they’ll attack and take out our biggest competitors without us having to lift a finger.
We should be looking at ways to help big tech be more competitive against the Chinese, not less. If we break up our big tech companies, China stands to benefit more than anyone else.
There’s regulatory oversight and law modifications that could better fix the problems with big tech than using the heavy hand of anti-trust law to break them up. Regulation shouldn’t be synonymous with breaking a company up. So because Trump doesn’t like Twitter for flagging some of his tweets as bullsh*t, he wants all of big tech broken up? Great, help the Chinese become the premier country for emerging technology why don’t you. That will really teach those big tech companies! WTF?! 🤷♂️
Josh Brown doesn’t share my opinion. Mr. Brown argues that breaking up the tech companies will actually unlock more market value.
Josh Brown, Ritholtz Wealth Management, joins “Closing Bell” to discuss his thoughts on the antitrust hearing as well as why he believes big tech will retain its value even if it were to break up.
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