STUART VARNEY (HOST): Sen. Elizabeth Warren is a presidential candidate and she wants to break up big tech. Facebook, Google, Amazon, break them up. But Politico reports that she took a lot of money from employees of those three companies. $90,000 between 2011 and 2018, and $2,700 specifically from Sheryl Sandberg, number two at Facebook. And Ms. Sandberg gave that money recently, in September of last year. I call that a lousy investment. Facebook's number two gives money to a politician who wants to break-up Facebook. Go figure.
Sen. Warren is on a jihad against big tech and big business generally. She wants all businesses to get permission from the government to operate. She's dying to get her hands on private enterprise. Frankly, I think it will be a disaster if politicians controlled any business. America should not be a vast DMV. Sen. Warren is also on a jihad against billionaires, she says, “I'm not in Washington to work for billionaires.” OK, so don't take money from them. She herself is worth between $4 and $11 million, I guess being a millionaire is OK, a billionaire, not.
Let's get back to Facebook, Google and Amazon. Sen. Warren wants to break them up. She says, among other things, they will crush, or they are crushing small business. I disagree. Big tech creates jobs, and tens of thousands of small businesses use those platforms. Furthermore, the capital that big tech generates flows out to other industries making them more efficient and dynamic.
