House Speaker Nancy Pelosi (D-CA) has declared that the big tech “era of self-regulation is over” despite her continuing fundraising from Silicon Valley.
Amid bipartisan calls for greater regulation and even the breakup of America’s largest tech companies, Pelosi called for regulation of Silicon Valley. The House Judiciary Committee even called for a “top-to-bottom” antitrust investigation into the tech industry.
However, one may question the authenticity of Pelosi’s call for greater regulation of big tech, as she raised significant funds from Silicon Valley.
Pelosi reportedly received nearly $43,000 in total donations during the 2018 midterm cycle from employees and political action committees (PACs) of the Big Tech companies, each of which ranks among her top sources of campaign cash. Pelosi has typically served as a champion of Big Tech companies.
Facebook hired Catlin O’Neill, who worked as Rep. Nancy Pelosi’s (D-CA) chief of staff, and who now works as the company’s American director of public policy for the social media giant.
Further, the New York Times reported that Pelosi will collect money for vulnerable 2020 House Democrats later in June from a San Francisco, California, law firm that has represented tech companies. The fundraiser will reportedly ask for as much as $19,600 to help her seven California Democrat representatives.
Later on the same day, Pelosi’s political action committee (PAC) will hold an event at the home of John Thompson, the current chairman of Microsoft and former chief CEO of Symantec. The price to chair the luncheon will cost $50,000.