NYU Professor: ‘Too Much Power’ in Hands of 4 Major Tech Companies — ‘At Some Point Referees Need to Step in, Throw a Yellow Flag’

Wednesday on Fox News Channel’s “Tucker Carlson Tonight,” NYU marketing professor Scott Galloway followed up on his Esquire magazine piece calling on the break-up of the four major tech companies: Amazon, Apple, Facebook and Google.

Galloway explained to host Tucker Carlson that although those companies had done nothing wrong, the tech economy needed to be “oxygenated” given the difficulties small companies have for growth and big companies being “euthanized” with the current structure.

Galloway said while these companies offer a net benefit to the consumer, they may not be providing the maximum possible benefit.

“In the case of Facebook, you have two companies that control almost all traffic and all e-commerce and your presence on the web. And so, if it’s not a monopoly, it’s a monopsony, and advertisers have no choice. So there’s too much power in the hands of these companies. I don’t think they’re evil. I don’t think they have done anything wrong. I think they do what companies are supposed to do. They’re growing their earnings. But I think at some point, referees need to step in, throw a yellow flag. And I believe these companies would be better for the economy — a broader tax base, more jobs. Maybe fewer billionaires, but more millionaires if there were 11 or 12 companies instead of the four we’re discussing today.”

Follow Jeff Poor on Twitter @jeff_poor

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