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Treasury Secretary Steve Mnuchin Wants Justice Department To Scrutinize Big Tech (cnbc.com)

Treasury Secretary Steve Mnuchin on Monday joined the growing chorus of government officials concerned about tech monopolies. From a report: When asked if Google is a monopoly, Mnuchin said, "These are issues that the Justice Department needs to look at seriously -- not for any one company -- but obviously as these technology companies have a greater and greater impact on the economy, I think that you have to look at the power they have," Mnuchin told CNBC's "Squawk Box." Mnuchin acknowledged that antitrust matters don't fall under his jurisdiction, but said someone ought to be looking. His comments come on the heels of a "60 Minutes" segment on Google's unparalleled market share in online search. The Sunday night spot included an interview with Jeremy Stoppelman, co-founder of Yelp, which he said "would have no shot" if it were being built today.

17 of 128 comments (clear)

  1. Any large company/industry needs scrutiny by KixWooder · · Score: 3, Insightful

    Big Tech is no better than Big Oil or Big Pharmaceutical.

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    I hate fat people.
    1. Re:Any large company/industry needs scrutiny by liquid_schwartz · · Score: 2

      It is more accurate to say they are no worse. At least the harm they cause to humanity is a few steps removed compared to the direct harm caused by Big Oil and Big Pharma.

      There is direct harm to humanity - it makes us depressed and angry. There is tons of research and the link is clear.

      Citations:

      https://www.psychologytoday.co... https://www.independent.co.uk/...

  2. Re:Really? by Troy+Roberts · · Score: 2

    You do realize that the Justice department is part of the executive branch right?

  3. Moscow Donald - Caught Red Handed by Anonymous Coward · · Score: 2, Informative

    What? All your phoney misdirection doesn't change the fact that Donald Trump Jr and Silent Jared, and Paul "House Arrest" Manafort all had a meeting with a self-identified Russian government lawyer about Russia's assistance to the Trump campaign.

    It doesn't make up for decades of Russian money laundering followed by complete subservience to Vladimir Putin, whose Russian mafia pals kept Trump afloat financially.

    No matter how Trump's Treason Team waves their arms, they have been caught red handed committing treason, which isn't just illegal.. it's wrong.

  4. Re:I think you meant by Anonymous Coward · · Score: 2, Insightful

    what happens when the "big data" and "objective algorithms" aren't politically correct and charge blacks higher rates because they are more likely to default? remember when the government tried to use objective algorithms to set bail for criminals, but since blacks are more likely to jump bail, they were given higher bail, and it was deemed racist and shut down?

  5. Worry about the banks first by sjbe · · Score: 5, Insightful

    Treasury Secretary Steve Mnuchin on Monday joined the growing chorus of government officials concerned about tech monopolies.

    How about the Treasury Secretary worry about banks that are a proven risk to the financial system first? The tech companies didn't cause a global recession within the last 10 years or require massive government bailouts or cheat people out of their homes and savings.

  6. Re:I see only liberals whining by bugs2squash · · Score: 4, Insightful

    I think the complaints against facebook are no so much about campaigns doing analysis of data so much as they are about injection of misinformation and stoking divisions. And now that it has been exploited once, even the people that exploited it woudl not want it used against them in the future.

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    Nullius in verba
  7. Re:It's not generally unfair business practices by presidenteloco · · Score: 2

    but only because they filled a need or provided value of a certain new kind to people first and best.

    You are free to get together with a few fellow schemers and invent, implement and test, and promote, an alternative to each of the big players' info-products, and give yours the added feature of decentralization and no central ownership of or access to the collective-and-personal information-value.

    You will probably have to charge people a nominal fee to use it, to cover your hosting fees and lunch money.

    But no one is going to stop you from doing this. Only your own lack of ability and stick-toitiveness would stop you.

    Remember, in these parts, complaining is equivalent to volunteering.

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    Where are we going and why are we in a handbasket?
  8. Re:Moscow Donald - Your Complicity with Treason by Anonymous Coward · · Score: 2, Insightful

    The uranium never left the US, so you are just spreading misinformation for a known traitor.

    Congratulations on betraying your country, you fucking turncoat.

  9. Re:Whiney Little Bitch by micahraleigh · · Score: 2

    This is like the Valerie Plame wild goose chase of the Bush 43 administration.

    The only charges -obstruction of justice- had nothing to do with any prior crime being committed.

    In otherwords, if there had not been any allegations no crimes would have even happened.

    A spectacular waste of tax payer dollars amounting to little more than a way for the democrats to make themselves look less bad without actually contributing anything.

  10. Re:Remember when Microsoft was worse than Hitler? by CrashNBrn · · Score: 4, Insightful

    Good Times. When Netscape was a 25MB download, we were on 5KB/s dialup, and you were potentially downloading it via IE, which couldn't resume interrupted downloads - so after an hour and a half, maybe your download completed or maybe you had to start over again.

    Of course a handful of people discovered Opera, which at the time was a 3-5MB download and had all of Netscape's features including a mail client.

  11. Re:I can only hear Trump whining by jwhyche · · Score: 2

    Wouldn't it be better if we could have a discussion about something not related to politics with out some idiot bringing Trump into it?

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    I read at +2. If your post doesn't reach that level I will not see or respond to it.
  12. Re:I can only hear Trump whining by jwhyche · · Score: 2

    Well first, lay off with the bold. It doesn't help your case and actually makes you come across as some what deranged. An looking deranged is actually the last thing you need to look like now.

    Now then, we need to put to rest your fantasy and replace them with some facts. Lets get started.

    We have balance. There are democrats and republicans in congress that keep the president in check. Notice, he is a president and not a king. So many people keep forgetting that. With that said neither party has free reign to do anything. Most likely after Trumps second term there will be a democrat elected and things will swing back the other way. So, things are pretty normal there.

    Yes, he is qualified. He is qualified because he is president, yours and mine. Nothing you can say will change that so we might as well end that line of conversation before it starts. But for some reason he was to become unqualified then good ol Mike Pence steps in, and god help us all. So you better pray that Trump says qualified till the is out of office.

    Now then, lets shine some facts on ego clams. Trump seems to do a good job of decoupling this ego with his decision making process. If you will notice that when he is being "presidential" he is more than happy to give and take. That is actually how politics work. So, once again you are wrong about that too.

    Well then I think that covers everything. Again Trump is president and we are doing just fine. Lets move on to more important issues.

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    I read at +2. If your post doesn't reach that level I will not see or respond to it.
  13. Re:I can only hear Trump whining by jwhyche · · Score: 2

    The fictional name for this is called TDS, Trump Derangement Syndrome. It's supposed to be a sarcastic response to point out how silly peoples negative obsession with Trump is. But with some of the comments I keep seeing I wonder if we might have a real physiological disorder here.

    I kept trolling here hoping at some point he would see how silly he was getting but I guess not.

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    I read at +2. If your post doesn't reach that level I will not see or respond to it.
  14. Re:I can only hear Trump whining by jwhyche · · Score: 2

    An there class is a classic case of TDS meltdown. Now unless there are any questions, I believe we can wrap it up here.

    Class dismissed.

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    I read at +2. If your post doesn't reach that level I will not see or respond to it.
  15. Re:I can only hear Trump whining by jwhyche · · Score: 2

    Oh the "deep state." wooo wooo. I remember hearing talk of the deep state and the shadow government on fox news one night. I had to put my hand over my eyes to keep them from rolling out of my head.

    Deep state is just the right wing version of lefty loons Trumps concentration camps. Complete an utter non-sense. Right loons would have us believe that Obama is running some secret government out of some spider hole in Nebraska.

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    I read at +2. If your post doesn't reach that level I will not see or respond to it.
  16. Re:I can only hear Trump whining by jwhyche · · Score: 2

    Calm down. Take some deep breaths. in, out, in, out. There feel better.? You where trolled. It happens to everyone at some point. It's not really that big of a deal.

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    I read at +2. If your post doesn't reach that level I will not see or respond to it.