In the 1980s, government regulators took on one of the largest American monopolies and won.
It was the historic breakup of “Ma Bell,” the popular name for the telecommunications giant AT&T. the government felt AT&T had too much power and was stifling competition and innovation. The result was the creation of a number of “Baby Bells” which turned out to be a very good thing.
In a series of tweets, Shervin Pishevar used the Ma Bell example to make a comparison to some of today’s high-tech giants. He pointed his social media finger at the Silicon Valley titans, Microsoft, Apple, Amazon, Alphabet and Facebook. Like AT&T, Shervin Pishevar said, these behemoths are too large and powerful. They are stifling new innovation and crushing young, hungry entrepreneurs with good ideas for new business models.
Shervin Pishevar went even further. He said that today’s tech giants have far more power than Ma Bell ever did. He said they have “extreme amounts of data” that even some sovereign nations control. This gives the Apples and the Microsofts of the world vast powers to crush any competitor before they can even get started. That’s bad for consumers, he said, and terrible for innovation.
Shervin Pishevar called Facebook owner and CEO Mark Zuckerberg, “the most powerful and dangerous person in the world.” That’s because Facebook and Zuckerberg command data on more than 2 billion people that can be used in almost unlimited ways. Pishevar pointed out that Zuckerberg can, “never be voted out of office,” making for a dangerous situation.
Shervin Pishevar eventually moved on to other topics. One of those subjects was inflation. He said that “inflation is dead.” He said that the United States has effectively been exporting inflation to other nations as a result of the way trade deals are set up. That might be good for America, but he suggested the game is almost up. He said there is “no one left to take it.” And the fact that Washington is now in a process of re-evaluating all of its trade deals, the future in this regard is more uncertain than ever.