Amazon, Jeff Bezos, Donald Trump discussed on Inside the Hive with Nick Bilton
What one hundred sixty billion dollars personally, you know, Amazon's a trillion dollar company aid in the you know, he was he was doing an interview a couple of weeks ago. And he was saying how thing about Amazon that makes it a unique company is that they can there's not a business that they cannot get into and not apply their algorithms and their data, and you've written quite a bit and talked quite a bit about how they do things that that are just blatantly in favor of Amazon and against the smaller companies. Is it just that? No one's looking at this. Or is it the? Amazon's really really smart about it. And that's how they get away with it. No. I don't actually think that's smart about it. I mean, they were very smart and Lena, Conroy this brilliant article called Amazon's antitrust paradox, where they followed kind of the model that had been laid out by Wal-Mart, which is as long as you give consumers low prices, you can get away with a lot of kind of bullying tactics in the marketplace. And because I anti trust law. And like I said the Chicago school of economics really focuses on this thing called the consumer welfare standard, and as long as consumers are happy, then you can get away with whatever you're doing. So that's been the smart part about it. But they're doing a lot of conduct that I think would be a successful antitrust cases. And you know, I have been pointing out the antitrust risks that I think the company faces because of the conduct and I don't know why nothing has been done about it in the US. I do know that Europe has started an investigation. Against a looking at how Amazon uses data of those sellers and brands on the market place to undermine competition on the marketplace. So I think they're going to get it from Europe didn't Amazon do slim recently where they ousted marketplace sellers to the the only the only thing available was actually the Amazon progress. So yes. And that is that is clear exclusionary conduct that it would it would be enough to bring them an apple ization claim. So under antitrust law is not actually illegal to be a monopoly, but it is illegal to monopolize. So you need to have both monopoly power and some kind of exclusionary conduct not exclusionary conduct. I mean, you know, so I think there's a case there. I think there's been a lack of political will. But but isn't okay. But you know, one of the things that I mean, Trump hates everything. But one of the things he clearly hates his Jeff Bezos. And Amazon wouldn't he say, okay, let's go after these guys or is it that he doesn't think that they can win or the the DOJ has more important things to worry about right now. What do you think the reason that the Trump administration hasn't said, let's do the Trump administration can just confuse you and make you scratch your head a lot because simultaneously with these kind of angry tweets about Amazon, the Pentagon as a wording Amazon gigantic contract that this Djeddai contract that is you know, worth huge amount of money and the contract, the what is called the RFP looks as if it was custom crafted for Amazon, so you have like different parts of the government that are really catering to Amazon, and I just saw today that there was a report that Amazon spending the most on lobbying it ever has in the wake of these Pentagon contract. It's so I don't know he says one thing. But then, you know, the people that he put in charge people who are more of this antitrust establishment that doesn't really believe in robust and address enforcement and thinks the markets will just take care of everything, and they'll be some sort of disruption..