Page 28 - March 2018 Disruption Report
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TECHLASH JAMNAURACRHY 22001188
THE AMAZON EFFECT
Source: Esquire, Scott Galloway, 02/08/18
...Our democracy is breaking down because these companies have become too powerful.
...The HQ2 thing [e.g., Amazon’s plans to open a second headquarters in the U.S.] is out
of control. My favorite one is Chicago offering to return employee payroll taxes to Amazon. Put another way, they [are giving] Amazon permission to tax their own employees, keep those taxes, and then decide how those coffers ...that money that used to go into municipal coffers should be spent.
I think our government has basically folded and said “We acknowledge you’re more powerful than us.” I think that’s markets failing.
People say, “Well, as long as they’re good for the consumer and they’re low prices, we shouldn’t break them up.” That’s [the] University of Chicago and Bork basic trust theory for antitrust—if it’s good for the consumer, leave them alone; these are low prices.
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