There are several large tech companies in the United States, responsible for substantial technological breakthroughs. They also employ over a million people combined. These companies include Google, Amazon, and Facebook.
If Bernie Sanders becomes president, he plans on breaking these companies up.
Breaking Up Monopolies?
Sanders sees the companies as monopolies. He feels that Amazon, if not already, is moving dangerously close to becoming one. Facebook has been accused of being a monopoly on more than one occasion, though it fought to prove that it wasn’t because it’s not the only social media platform out there and it doesn’t provide a necessary product or service.
Breaking up the online giants would be his way of pursuing antitrust enforcement. He feels that Facebook has too much power over the economy as well as the political life of the country. However, Facebook itself isn’t responsible for that – people are.
What’s His Plan?
Sanders would hire an attorney general in order to break up all of the huge corporations, not just the tech ones. He mentioned areas of Wall Street, pharmaceuticals, and others. He doesn’t believe that gigantic corporations should own an entire sector.
As usual, though, Bernie Sanders doesn’t provide a lot of details. While it’s all well and great to say that he wants to break these companies up, he’s not looking at the facts. There’s no single giant corporation that owns an entire sector. It’s not true in the technology sector, pharmaceuticals, Wall Street, or anywhere else. If there were, it would, in fact, be a monopoly.
He doesn’t provide any kind of plan as to how a large corporation should be broken up. At some point, he even through Apple into the mix. Apple has its own operating system, but it produces smartphones and tablets just like any other tech firm. They’re unique, but it’s because they have built themselves to be well-branded – and people are in search of that brand because of its reputation.
For Sanders to say that he wants to break up all large companies is preposterous. There’s no way to do this fairly to businesses. Many of the businesses have grown from small startups. Through hard work and great ideas, they have grown to become larger and larger. They chose to adapt when other businesses failed to.
Penalize the Bigger Companies
Sanders is all about penalizing the bigger companies because they have too much power. When the FTC voted to approve a $5 billion fine for Facebook based on their data privacy issues, Sanders felt that the fine wasn’t strong enough. Had he had his way, it would have been more than just a fine.
$5 billion is a large fine. It’s probably one of the largest in recent history. If Sanders says that it’s not strong enough, his ideas most likely include breaking the company up. However, there are laws in place to protect businesses. Further, Facebook isn’t doing anything wrong just by existing. Sure, they made some mistakes for data privacy. That doesn’t mean that they need to be divided up. How would that even work?
Millions of businesses depend on Facebook to help themselves market. Taking the social platform away would make it harder for people to connect with their audience. The same goes for plans to break up Google and Amazon. How does Sanders plan to break these companies up without it affecting the entrepreneurial spirit as well as businesses in general? Millions of people could be out of work if it were up to Sanders – and then he has no one to tax so that he can give the American public all of these things he wants to give out for free.
Sanders Doesn’t Get It
If anything, Sanders is saying that he wants to break up Amazon, Facebook, Apple, and Google shows that he doesn’t get it. While new laws can help to protect data and prevent them from accessing too much data, breaking up the companies isn’t going to help anyone.
Sanders would have to pass half a dozen laws to even provide antitrust enforcement. If Trump is struggling with immigration laws for what’s best for the country’s borders, it’s unlikely that Sanders will have any better luck passing laws that deal with employment, technology, and the livelihood of millions of people.
Sanders is showing his age with this one: destroy what you don’t know. Luckily, most people see the Senator for who he is: someone who makes a whole lot of empty promises and the desire to raise taxes to the extreme.