Collection: Charlie Munger - #208 'Google, Amazon, Facebook's Antitrust Case'
[Transcript]
BECKY QUICK 00:00
Recent appointees, Lina Khan, as Chairwoman of the FTC, and Jonathan Kanter, as Assistant Attorney General of the antitrust division of the Justice Department, have each pledged to follow an aggressive approach to antitrust enforcement.
Do you believe there’s a need for new antitrust legislation and/or more stringent antitrust scrutiny with respect to the largest technology companies?
CHARLIE MUNGER 00:23
Well, I think what’s happened is so important and so tied up with national strength that I’m not trying to weaken the internet companies in the United States. I like the fact that we have strong national champions that are big, strong companies. And I think other nations are proud of their big strong companies too.
So I don’t think bigness is bad in the United States. I don’t want the whole internet to be dominated by foreign companies. I want big, strong American companies that stand well in the world. So I’m not as worried about antitrust aspects of the internet.
BECKY QUICK 01:17
Are you worried about the aspects of antitrust breaking it down, though?
CHARLIE MUNGER 01:22
Well, there’s no question about they're going to get more attacks from the present administrators than they got from the previous ones. Doesn’t worry me that much, no. I don’t think it’ll have that much practical consequence.
(Source: https://youtu.be/8RxLj9OVqLo)
[YAPSS Takeaway]
Big and strong companies are the national strength of countries.
