The FTC hasn’t had a spine in decades, I doubt anything will come of this. It would be nice for once if the government actually gave a shit about monopoly busting, but they don’t care anymore. Not when corporations are legally allowed to bribe the ones making legislation, oh and also companies can be people now
this post was submitted on 27 Jul 2023
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The FTC has had a spine since 2020, they have been really busy - https://www.ftc.gov/news-events/news/press-releases
Would be great if the US started regulating big tech as harshly as the EU, let's see how they like that.
Great, instead of one overvalued company, Jeff Bezos will own majority stakes in multiple overvalued companies.
Does this need to happen? By God yes, a thousand times over. Will it actually happen with a positive effect? Big doubt.
They will settle for increased regulation, knowing their army of lawyers will be able to manage it all while the little guy will get snowed under.
So we’ll see even more small businesses fail while Amazon will continue to grow because the gov’t was lobbied into killing the competition.
How exactly does helping small businesses access a worldwide market they otherwise would never get access to cause small businesses to "fail?"
This wouldn’t be about small businesses accessing Amazon’s market - although the original point was that Amazon is becoming a monopoly and is taking advantage of that position with ridiculously high fees and commissions. This will be new regulations created and forced on every business (or ones that grow to a certain size).
Amazon will say, “don’t break the company up, we welcome increased regulations to keep us honest” acting like that is a good compromise that solves the problem.
The intent of the regs will be to stop Amazon from gaining an even bigger monopoly, but the affect will actually be smaller businesses will not be able to manage the increased red tape and change of laws (whereas Amazon has an army of lawyers to find loopholes, and waste time in the courts and not change a thing).
This will stop small business growth and eliminate Amazon’s competition, further cementing the monopoly.
Yeah I'm all about regs, but the idea Amazon somehow stifles small business is shaky at best
Nothings going to happen. Its just another headline that FTC will do something but we know how it goes.
If this does happen, I hope they find a way to do it that doesn't make Bezos and the like richer, like what happened with Standard Oil years ago.
Remember when FTC threw hands with MSFT....like literally last week? Yeah.
Yeah I see no way this happens, if they wouldn't involve themselves in Microsoft being a monopoly /anticompetitive they sure as hell ain't going to combat Amazon
Wasn't Microsoft convicted of being a monopoly though? I mean, it was overturned, but they did something.
Yeah, that'll happen.