Democrats LASH OUT At Innovation and Success

Democrats LASH OUT At Innovation and Success. www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it will have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:17):
Anti Trust Google and the Sin of Envy. So the
Justice Department. Justice Department wants to take Google, wants to
take Google. Google a company. Again, you may I don't
like a lot of their politics. I don't like a
lot of things that they do. But when you put

(00:39):
out a product, you put out a product that is
so successful, has been so useful, we've all used it
that it actually becomes a verb. Well, they want to
take this search engine, and the government wants to turn
it into a a utility, public utility. As part of

(01:04):
its proposed remedies and its anti trust case against Google,
the Department would force the company to share its technology,
data and models with competitors at a marginal cost. Is
this what China forced American companies to do to do

(01:25):
business in China? This is the thing that we've been
complaining about regards to force technology transfers. Wall Street Journal
mentions today that this is the same strategy it used
against the telephone companies in the nineteen nineties discourage investment
and competition. Again, similar effects today would undermine consumer welfare,

(01:49):
innovation and US leadership, and artificial intelligence. At the worst
possible moment, Google would be required to share its search index,
its user data, and the fruits of its research and
development with rivals, oh without making a profit. I mean,

(02:12):
this is the crap the mafia would do for crying
out loud, hello, I'm gonna make it off for you
can't refuse here, you go put a gun to their head.
You must turn over everything. Right out of Atlas Shrugged,
any company could resell Google search results rather to develop
its own technology. This again is complete departure. We've talked

(02:35):
about this before. This is called neo brandisi and that's
what they're calling it today, away from the consumer welfare
standard that has been used to guide anti trust policy.
You know, I just learned of this word. You know,
I took a lot of philosophy classes and I find
it fascinating. But I went a big student of Nietzsche.

(02:57):
I know a little bit the Nietzschean word for resentment.
It's called resentiment. Resentiment is the word. It is a
French word which directly translates to resentment. Key points on resentment.

(03:21):
What this is resentiment corneanici. It's a deep seated, deep seated,
often passive, aggressive form of resentment, fueled by envy and
a sense of powerlessness, leading to a desire for revenge
or to inflict harm through moral judgments. He uses this

(03:47):
to describe the mentality of the week. They can't confront
their superiors, they turn to resentment, and they actually create
a moral system that undermines the values of the people
that are stronger, doing better than they are. Does sound
familiar at all? This is pretty pervasive in our society.

(04:15):
All of these people that don't build anything, don't create anything,
don't really do much. Oh yeah, they may have a
fancy degree on their wall at some point in time.
That look at people that actually do build and create
with that resentment looking to tear them down envies a

(04:39):
hell of a sin. Watchdog on Wall Street dot Com