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Detailed text transcripts for TV channel - MSNBC - 20190322:02:24:00

for managing the way large tech companies behave is one worthy of description. you were talking about companies largely that have more than $25 billion in revenue not being both the pipe and the stuff that goes through the pipe. not being both the platform and the competitor. right. that s exactly right. so think of a company like amazon. you know, everybody goes to buy and sell on amazon. that s the platform. and then amazon does something really special. they not only run the platform. they gather information from every one of those transactions. every buyer, every seller. and then they discover that pete s pet pillows is making a big profit and amazon looks at that and says, hmm, we could do that. so what do they do? they jump in front of pete s pet pillows, move pete back to page 6 on your search, jump in and take the profits for themselves. now, my view on this is you can be the umpire. that is, you can run the

Detailed text transcripts for TV channel - MSNBC - 20190322:05:23:00

this the other day on technology. the aforementioned jamie dimon also said today on cnbc that tech giants should gird themselves for the type of regulatory onslaught that the big banks experienced after the financial crisis. they haven t had the benefit of the full monty yet, dimon said. if i were them, i d be getting prepared for it. there are a number of people who ve said that your proposal for managing the way large tech companies behave is one worthy of description. you were talking about companies largely that have more than $25 billion in revenue not being both the pipe and the stuff that goes through the pipe. not being both the platform and the competitor. right. that s exactly right. so think of a company like amazon. you know, everybody goes to buy and sell on amazon. that s the platform. and then amazon does something really special. they not only run the platform. they gather information from every one of those transactions. every buyer, every seller. and then they dis

Detailed text transcripts for TV channel - MSNBC - 20190322:05:24:00

big profit and amazon looks at that and says, hmm, we could do that. so what do they do? they jump in front of pete s pet pillows, move pete back to page 6 on your search, jump in and take the profits for themselves. now, my view on this is you can be the umpire. that is, you can run the platform, or you can have a team in the game. that is, you can be one of the competitors buying and selling on that platform. but you don t get to do both at the same time. because if you re doing both at the same time that s not helping competition. it s wiping out competition. it s why a lot of investors now in tech, the early investors, they refer to the zones around companies like amazon and google. they call it the dead zone because it means somebody starts to grow a business in there, then amazon, google, facebook just reaches out and snatches up the business. and that s not that doesn t

Detailed text transcripts for TV channel - CNN - 20190319:02:00:00

physical retail sales in america. amazon, 49% of all online, so this is a big deal. if you want to sell onto, you re a little guy, you re trying to get your business started, you re an entrepreneur, you got to be there. so amazon runs this platform. you come to the platform. all sounds great. but amazon also is collecting information on every single buyer who visits and on every single seller who s there and on every single transaction. and what it does is it has the capacity to look out there and see, you know, pete s pet pillows and say, whoa, pete had a good idea here. he s making money off this. so here s what we re going to do. we re going to take pete off page one, move him back to page 16 where nobody goes, and then amazon pete s pet pillows is going to step right in front of him. you know, think of is this way

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