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Home > Analysis and Commentary, Business, Economy, Manufactured Housing Industry, News, Politics, regulation, Trends > Wall Street Journal – Tech Giants are Monopolistic Threat to Businesses, U.S. Economy

Wall Street Journal – Tech Giants are Monopolistic Threat to Businesses, U.S. Economy

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A recent column in the Wall Street Journal (WSJ) by Christopher Mims caught the eye of populist Breitbart, which said the WSJ article “makes the case that several Silicon Valley giants are gaining monopoly-sized market shares in their respective industries. Mims explained that modern monopolies look much different than monopolies of the past.”

 

From left-wing-to-right-leaning media outlets, the concerns over the political, economic, and social impacts of monopoly are growing.

The screen captures below provide a quick sense of the millions of articles on this trending concern.

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Full Measure’s Sharyl Attiksson’s media bias chart is useful in sorting out possible agendas behind various headlines and news sources. 

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Long-time, devoted Daily Business News readers know that MHProNews has raised alarms about the harmful impacts of monopolistic power in all businesses, obviously counting manufactured housing too.

Those monopolistic forces include the challenges posed by the tech giants, which have sizable sway over news and search results, both of which impact a business’ online visibility, and acceptability.

But these huge operations also influence politics, research, media, and thus the impression that the public and officials may have about modern manufactured homes.

One way today’s monopolists are different from the robber barons of old is that they’re not exactly behaving like, for example, Andrew Carnegie, who turned armed guards on striking workers. And regulators don’t particularly care if a company is a monopoly unless it harms the public or hampers innovation. But on those counts, many argue we’re close. Take the way both Google and Facebook dominate the harvesting of user data, or Facebook’s ethically dubious decision to release vast quantities of personal information to developers,” Mims said in the WSJ.

Tom Ciccotta, Breitbart’s tech columnist said that “Google and Facebook take in a vast majority of U.S. digital advertising. Amazon accounts for a whopping 44 percent of e-commerce sales.

Mims said that, “Together, Google and Facebook take in 73% of U.S. digital advertising. It may not be something you think about often, but that success rests largely on the fact that both have spent so much money building data centers and filling them with hardware and software designed by an elite, in-demand set of engineers. In this way they resemble the telegraph giants, with investments in physical infrastructure so large no upstart could match them.”

They are similar to arguments made by professor Scott Galloway from NY Stern, referenced several times by the Daily Business News, in posts like the one linked below.

 

Not Anti-Business, Anti-Trust

MHProNews editorially stresses that it celebrates success, but is opposed to monopolistic, Crony Capitalism.” That may seem nuanced, but it is logical, consistent, and in keeping with America’s economic and political traditions.

The union of principled free enterprise, constitutionally limited government, that protects workers by fighting monopolies are core concepts of a coalition that could bring millions to the ballot boxes.

Properly addressed, breaking up the trusts arguably could yield trillions in economic growth, more employment, and higher wages.

The WSJ joins media across the left-right media divide that have highlighted the harm done to workers, innovation, and thus the public at large. Linked articles can be read later for more details.

Breakup “Massive Power” of Giants, “Subvert Our Democratic Process” Says Senator Cruz, & MH CEO’s Call for “Fully Competitive Housing Access”

From Senator Ted Cruz on the right, to Senator Elizabeth Warren on the left, concerns over monopoly are increasing in D.C, and beyond.

Warren Wages War

While MHProNews has given more attention to the specific consequences of Warren Buffett led Berkshire Hathaway’s conglomerate on manufactured housing, the problems caused by the tech giants are not to be overlooked.  See the related reports, linked below, for more details. ## (News, analysis, commentary.)

(Third party images, content are provided under fair use guidelines.)

Related Reports:

“Audit the Algorithm!” – Mark Zuckerberg, Facebook and Google Monopoly – Manufactured Housing Marketers Notice

Progressive “Nation” Reports on Monopolies Cites Buffett, Clayton, Others – MH Industry Impact?

Smoking Gun 3 – Warren Buffett, Kevin Clayton, Clayton Homes, 21st Mortgage Corp Tim Williams – Manufactured Home Lending, Sales Grab?

“Winners and Losers,” L2 Founder, Prof Scott Galloway on Monopolies

Does Monopoly Power Impact Workers’ Stagnant Wages? MH Industry Impact$

 

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.


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