BREAKING: Donald Trump gets devastating news as billionaire Mark Cuban and LinkedIn co-founder Reid Hoffman join forces and unite over 100 venture capitalists to back Kamala Harris for president.
And it gets even better...
"We spend our days looking for, investing in and supporting entrepreneurs who are building the future," reads the "VCs for Kamala" website. "We are pro-business, pro-American dream, pro-entrepreneurship, and pro-technological progress."
"We also believe in democracy as the backbone of our nation," the site goes on. "We believe that strong, trustworthy institutions are a feature, not a bug, and that our industry — and every other industry — would collapse without them."
"That is what’s at stake in this election. Everything else, we can solve through constructive dialogue with political leaders and institutions willing to talk to us. In this pivotal moment, we are united in our support for Vice President Kamala Harris," it reads.
The announcement is a powerful rebuke to far-right Silicon Valley billionaires like Elon Musk who have thrown their support behind Donald Trump's fascist movement in the hopes of more tax cuts.
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“Governments and economic regulators have, since the 1980s, turned a blind eye to a handful of giant companies steadily gaining chokeholds in global markets. Banking, agriculture, digital technology, publishing, music, pharmaceuticals and more are dominated by firms that have grown too big, and too powerful.
Their rising power harms consumers, workers, small businesses – and democracy. This report argues that the main regulatory tools that are supposed to protect us against the dangers of extreme corporate power – antitrust or competition policy – have been substantially ‘captured’ by monopoly interests. As a result, forcing the break up of dominant firms has fallen out of favour.
This report calls on political leaders and regulators to take the harms of big firms on democracy and society seriously, and revive dormant recourse of forced breakups. It shows why we must break up dominant firms, when to break them up (and when not to), and how to do it.
There is new hope: breakups are quite possible, and regulators are at last waking up to this option – though not fast enough. Report by Nicholas Shaxson and Claire Godfrey for the Balanced Economy Project. With particular thanks to Laurel Kilgour. Additional thanks to: Ian Brown, Maria Luisa Stasi, Max von Thun, Michelle Meagher, Tommaso Valletti. All errors and omissions are ours.”
