Listen: Should the government break up big tech? (The Daily Charge, 7/16/2019)
"Today on the daily charge what's dominating prime day how much of your kids on their phone breaking a big tech and area fifty one okay so Amazon offered an update on how it's Prime Day sale is going so afar and said everything is great. Please continue shopping. The company also mentioned that this is really no surprise the fire TV stick and the echo dot were two of its bestseller so far this makes sense to me because they make those products they were able to basically gauge what the prices were specifically for them and those generally are the items that never go out of stock because they make them so they have a ton of them and also some of the lowest price point deals that are consistent consistent throughout the day. You'll have to worry about being lightning deal and missing it. It's going to be there and it's getting heavily promoted because Amazon. Was it cellphone stuff yes so joan. Did you buy anything on Prime Day because I didn't tell you I did not by anything really all that interest. You told me yesterday so I'm gonNA say about stocks. Yes I just got reynolds wrap for seven dollars before hundreds of dollars because I knew that I need we need a new food processor and so I just waited until primates and that's you know how primed is kind of change summer shopping. It's created like a wait to buy moment that didn't exist six years ago yeah yeah absolutely anyway next up a new survey from phone comparison. Insight I'M GONNA struggle to say this sell sell found that forty two percent of kids ages four to fourteen are using phones over thirty hours a week. I can tell you my my kids are probably among this and they're in the younger. I said so joan do you do you restrict the kids phone usage or is this at all surprising to you yeah. I think one of the heart things to really understand from stats like this is what is using a phone like. I don't let my kids have a phone but when I need them to be calm for like three minutes video on mine is that using a phone and they're under four it is using calling grim using a phone so there's a lot of and I think that's where the numbers are hard to see what applications are really helpful and one of the sets of they have is that I think seventy percent of parents say that a cellphone usage is helpful for their kids. Yeah I think so to obviously they need to learn how to pension zoom the two years old that's that's what happens in my house either way more than one point. Two million people have signed up to attend the September twentieth event in the Nevada Desert Storm area fifty one to find out of their aliens there I would obviously love to be at this event except for the fact that it's fake and whatever you're GonNa do they think of the means a real this is this is turned into a benefit sensation online and to me. It's actually kind of fun to see that sometimes the Internet can be fun and granted darkness under right. I mean most of the time it has darkness but at the same time guests conspiracy it's like the cutest government conspiracy the quaint one that we have going on right now well the other dark part of it. Is that the. Air Force right jump sakes people do not show up. We really don't want you here because we might shoot you. Please don't show up so yeah definitely so anyway. We wanted to get get up to our lead story today this afternoon. The House Judiciary Committee will host facebook Amazon Google and apple to discuss antitrust issues and competition so we talked about this a little bit yesterday but Joan as far as regulation breaking up big tech. What are your expectations as far as like? is any of this stuff going to happen or are. We just going to talk about it a lot so we know the track record that so far. There hasn't been a lot of action yet but it's clear we've been talking. We had to cover more congressional hearings with big companies in the last two years than we have I can I can remember in the so that's the first stage they're being some sort of action. It doesn't necessarily have to be in Congress. We're focused on Congress today. Because there are these two hearings going on but it could be regulatory action we're hearing about how there could be antitrust action taking place at the F._t._c. or the F._C._C. so there's definitely an impetus among leaders that on our power right now and it's a conversation for the twenty twenty election so it's a big election campaign talking point right now too so Wall Street Journal late last week talked about how the F._T._C. came to an agreement with facebook where. Where there's going to be a five billion dollar fine about just the way the facebook had inappropriately used data had just misused a lot of the user data five billion sounds like a rented number? I know what you're going to be to this but I think it's really important discuss. Do you think that's GonNa Change anything on the side of facebook or big tack that there are these Maestra finds that came out not only from the F._T._c. that hasn't actually been confirmed yet that was just report but also from Europe the Europeans have also find big tech companies billions of dollars too so the things I think are important to keep in mind with the five billion dollars. Fine should come to pass our it would be the biggest such fine in the U._S.. Against the Tech company I believe cracks so it's meaningful in that respect be five billion dollars as like a week of facebook's like earnings. It's like nothing it's five billion so that that speaks to the scope of this problem. These companies have gotten so massive that even the biggest fine ever against one in the United States still isn't a deterrent force just by really good point. It doesn't change how it is. Did they make money in the first place right. They're going to continue minting cash regardless but I do think the fact that that fine would be happening in the U._S.. Whereas previously multibillion dollar fines had been happening in Europe? The U._S. is where these companies are based and so I think would have more force not necessarily serving the dollar amount or your amounts if it were a fine here versus in Europe but in terms of the tenor the fact that this is where these companies live this is where most of their workers are it would signal that things aren't."