Big Tech Companies Look To An Unlikely Savior: The Republican Party
The tide has changed for big tech and as mega-companies have come under scrutiny, they are turning to the Republican Party.
It’s not that Republicans (even Donald Trump) haven’t criticized the tech giants. They have, but Senate Republicans and Trump’s Department of Justice don’t seem eager to call for a breakup of the large tech firms.
“Companies like Facebook and Google — where employees have long been known to support progressive causes and candidates, are pointing to conservative senators including the GOP’s Senate Majority Leader Mitch McConnell, and Senate Antitrust Subcommittee Chair Mike Lee, as their last best hope amid investigations that threaten the future of tech, according to people at the tech firms and Wall Street executives with direct knowledge of the matter,” Fox Business reported.
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A number of state Attorneys General, most of them Democrats, Rep. David Cicilline, chairman of the Democrat-controlled House Antitrust Subcommittee, and just about every Democratic presidential candidate think there should be a massive reordering of the technology industry.
“But Republicans appear, at least for now, dead set against putting a stake through the heart of big tech. That’s despite Silicon Valley’s long-held reputation as a bastion of progressive politics,” Fox Business reported.
Insiders say tech companies are informing investors that due to Republican support in the Senate they should not worry about the breaking up of the firms like Google or Facebook.
“One of the things the tech companies are pointing out is that Congress is too slow-moving to make any immediate change…and McConnell and Lee aren’t going to take antitrust action against big tech,” one tech insider with direct knowledge of the matter told Fox Business.