![]() The 2016 Democratic Platform had “the strongest antitrust platform language in decades,” Vice reported in a July 2016 article. The Democratic Party has a history of opposing big tech monopolies. Democratic Party’s History of Opposing Monopolies Other prominent Democrats, including Warren, have also been outspoken prior to Musk acquiring Twitter. Reich - whose tweet against platform monopolies was used in the Facebook post - has been publicly against this issue since 2015, when he wrote an op-ed in the New York Times with the headline “Big Tech Has Become Way Too Powerful.” He wrote about Amazon, Facebook and Google being the top spots for shopping and news consumption. It bought Instagram on April 9, 2012, for $1 billion in stocks and cash, Oculus VR for $2 billion on March 25, 2014, and WhatsApp for $19 billion on October 2014.Īlthough we could find no evidence of Democrats being outspoken against tech companies from 2006 to 2014, the opposition became clear at least seven years before Musk agreed to purchased Twitter. In a two-year time span from 2012 to 2014, Facebook- which is now called Meta - acquired several platforms. Disney completed its deal to buy 21st Century Fox on March 20, 2019, for about $71.3 billion. The company then went on to buy Lucasfilm - the firm that produced the Star Wars franchise - for $4.05 billion in stock and cash on Oct. The Walt Disney Company bought Marvel Entertainment in 2009, for about $4 billion in stock and cash. ![]() Google then closed the acquisition of Fitbit, a fitness tracking company, on Jan. Waze, a social mapping location data startup from Israel, was bought by Google for about $1 billion in 2013. 15, 2011, but went on to sell the company to Chinese smartphone manufacturer Lenovo for $2.91 billion in cash and stock three years later. Google purchased Motorola Mobility for $12.5 billion on Aug. 9, 2006, Google bought YouTube for $1.65 billion in stock. Let’s look at the timelines in which Disney, Facebook and Google acquired the companies listed in the post. Situational stance (aka hypocrisy).”īut this wasn’t a “situational stance.” Democrats - including Reich and Warren– have criticized monopoly buying for years. The post was then shared to the Common Sense Facebook page in a screenshot with the comment, “ Hmmm. Leftists: *silence.* Google buys YouTube, Motorola, Waze, Fitbit, etc. Lefists: *silence.* Facebook buys out Instagram, WhatsApp, Oculus, etc. ![]() It’s bad for our democracy as well as our economy,” Reich tweeted.Ī screenshot of the tweet was posted to Facebook with the comment, “ Disney buys out Marvel, 20th Century Fox, Lucasfilm, Miramax etc. secretary of labor under former President Bill Clinton, criticizing “platform monopoly” in a tweet shared the same day that Twitter’s board approved Musk’s offer to acquire the platform. The Facebook post shows a tweet from Robert R eich, the U.S. Platform monopoly refers to a single digital platform, like Facebook or Google, that dominates an industry. Dick Durbin of Illinois, expressed their opposition by saying Musk’s deal is “dangerous for our democracy” or a cause for concern.īut Common Sense, a Facebook page that says it “pokes fun at hypocrisy,” posted an image that falsely suggests Democrats didn’t speak out against platform monopolies until after Musk agreed to buy Twitter.Ī monopoly consists of a single company that dominates an industry and excludes competition. Elizabeth Warren of Massachusetts and Sen. corporate regulators - is not yet complete. The deal - which still needs approval from shareholders and U.S. Musk, a self-described “ free speech absolutist,” announced his move was a way to loosen restrictions on the social media platform. On April 25, Twitter’s board of directors agreed to sell Twitter to Tesla and SpaceX CEO Elon Musk for roughly $44 billion. Democrats have opposed monopoly power and encouraged competition for years. But a social media post misleadingly claims Democrats didn’t speak out against companies buying out competitors and creating monopolies until Musk bought Twitter. Elon Musk’s $44 billion offer to buy Twitter was criticized by several prominent Democrats.
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