Business is booming for tech companies during the coronavirus pandemic


It is the corona bursary Was a year ago minus two days where we did our last show here and i am boy at ended quick biden set at me the whole thing i mean i thought i was gonna come back next week. We had a panel book May i able to get a shot. July fourth biden says independence day yet. It we're going to be kind of independent. So i've been leading reading you know the year everybody's running recaps of this kind of stuff this dot. I have to start with that. I thought was most amazing. Jeff bezos law lost thirty eight million his divorce thirty eight billion divorced and he made it all back in a month may thirty five billion in one month. What does this tell us about america. Gentlemen it's worse than that. We've had one individual. Gdp of hungary to his net worth since the first virus. You on mosques just in time for him to peace out and moved to taxes so he doesn't have to pay taxes. We've seen billionaires go from one point nine trillion and wealth of four trillion. The dirty secret of this pandemic is at the top ten percent much less top. One percent are living best lives virus and that some be minute we see a lot of the we actually see places that went out of business by myself. Some of my favorite restaurant. Hey i drive by. And i wanna cry. Because they've been there for a log gone forever but the people who did if you're in the sit on your ass. Look at a screen business. Amazon apple google facebook right. They made their now worth twenty one percent of the whole economy. There we used we talk about the s. and p. five hundred it's the s. and p. seven there's now seven companies that have percent of the market cap amazon's since march has added more market capitalization than all of european retail. We have effectively four companies. That are so dominant. There's more we've been overrun. There's more lobbyists fulltime lobbyist in washington working for amazon than there are. Us senators there's more people working in pr and calms at facebook. Manicuring in march and cheryl's image than there are journalists at the washington post. Yeah we are so beyond any sense of balance in our economy. The eco-systems out of control. We absolutely need to break these companies up. Yeah it's almost like we're going to step ahead. I'm old school that stepping on a. It's almost like the way that you said there bill. It sounded nefarious. Almost like they plan or something you know not that they did of course but they took advantage of it but they took advantage of there's almost like an inevitability of this kind of progress. Let's let's call it. You know where how all that money just starts flowing in these these same directions. No matter what happens to the economy. It all keeps flowing that way but can ask this one question. When i read this about the amazon apple. Google facebook twenty one percent. I mean it was written. I forget where i read it. Maybe you yeah. It was written like oh my god. Twenty one percent of the economy four companies. Yeah but i was like. That's so bad. I thought it was eighty quite frankly. I hadn't read that. I mean the biggest four companies. Who really i mean this is. What's propping up. America as the rest of his goes to shit Is that such a big thing that those the four biggest companies are one fifth of the economy pennzoil. Not that alarmed at do we want one company deciding ninety three percent of the time when we type in overthrow government whether you get Instructions on how to build a dirty bomb or voter registration. Should one company control those decisions. Ninety three percent of the time should one person control the algorithms to decide the content that the southern hemisphere place. india rec- should one company effectively control ninety seven percent of all increase in value of all retail. The third and learn. I know you think healthcare is next right. Don't you think that walmart and is it is on. We're going to be battling to of course. Why wouldn't they want that. they own everything else. Where's the all the money going sick people. That's what america does best makes people look the fastest. The largest business in the world is us healthcare. it's seventy percent of gdp its prices. Keep going up. it's nps keeps going down. That spells here comes amazon but not only is it bad or morally corrupted these companies have so much power it's dangerous. the equivalent of the nasdaq and israel is down. Not up there vaccinating. Seven times the rate when the most powerful wealthiest people in the world are living their best lives. We don't show this virus the full-throated capitalist response. We are capable of if amazon amazon. Start if amazon stock had declined seventy percent instead of risen seventy percent in the last ten months when a van with a smile shows up in my driveway tomorrow morning someone with a somewhat jumped out in a lab coat and vaccinated us. We are living our best lives. This virus has not seen what with the. Us is capable of because stop. Stop at hurt so good. If you're the shareholder class but the other the other point is the every time you wanna talk. This guy's as usual. I said everything i wanted to say. No but the other side of it is providing a service that people like you know. I mean during the pandemic you wanted things delivered to you know so the. That's what i mean the confluence of them being there at exactly the right time with exactly the right service is was very convenient so i know so. Many people have signed up for amazon prime over the last five years because the all of the things that they come with it and amazon is amazing. The type of company that amazon is and how they position themselves to literally pacman. Every every type of that is out there. it really is. I don't think we've seen anything like that type that's He remember he cornered the diaper market. Lost like one hundred million. Just but i i don't care i want diapers to write something wrong with that guy anyway but it's not as bank

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