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The large tech companies have gotten too big and too powerful.
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Last year, 56% of the US e-commerce went through Amazon [ [link removed] ].
More than 70% of all Internet referral traffic goes through sites owned or operated by Google or [ [link removed] ]Meta (the name of Facebook’s recent re-brand).
These companies are so big that Meta CEO Mark Zuckerberg has said “In a lot of ways Facebook is more like a government than a traditional company [ [link removed] ].”
These huge corporations spend millions on public relations to point out the “good” they do.
But we also know that Facebook has been harmful to children and is damaging our democracy [ [link removed] ].
We know Amazon exploits and undermines small businesses [ [link removed] ].
And we know that Google is destroying the local newspapers [ [link removed] ] industry.
So what can we do?
Well, President Biden has called to ‘remove’ Section 230 liability shield [ [link removed] ] on these corporations. That means these platforms will be liable for the content that is on them. Ultimately, President Biden can’t do it alone, he needs Congress to enact.
That’s why the battle for the American Innovation and Choice Online Act is important. This piece of legislation has advanced further than any US legislative effort to address the market power of some of the world’s richest companies.
How scared is Big Tech from this bill passing? Well they’ve spent $95 million trying to defeat it [ [link removed] ].
In order to have a nation of the people, by the people and for the people, we need to break up Big Tech. Until then, America and Americans will continue to get screwed.
YOU’RE PROBABLY (ALSO) GETTING SCREWED BY:
BANK MERGERS
According to the American Economic Liberties Project [ [link removed] ], bank mergers tend to be bad for everyone who isn’t a bank executive. But since 2006, the Fed has rubber-stamped nearly every bank merger put in front of them. (More than 3,500!!).
Michael Barr, the Fed’s vice chair for supervision, said in his first major speech since taking office in July that reviewing the central bank’s process for approving combinations was one of his priorities [ [link removed] ].
INFLATION
More Perfect Union tells us that more higher income families are moving to shop at Dollar General and Walmarts. As this shift occurs, these chains are aware and charging more [ [link removed] ].
Also, Dollar General is not a “discount” store. [ [link removed] ]
And if you’re looking for a low wage job that’s dangerous, Dollar General is hiring…
HEALTHCARE IN AMERICA - LIFE EXPECTANCY
China's life expectancy is now higher than that of the US [ [link removed] ]!!! With the latest decline, US life expectancy is now at its lowest since 1996!
***If you have a healthcare story or see a healthcare story posted on social media that needs more attention, please comment below and we will reach out.
BEFORE YOU GO
Before you go, I need two things from you: 1) if you like something, please share it on social media or the next time you have coffee with a friend. 2) Ideas, if you have any ideas for future newsletter content please comment below. Thank you.
Standing Tall for All,
J.D. Scholten
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