Wednesday, July 29, 2020
Trial By Fire
Jeff Bezos is getting his moment in the searing light of a Congressional hearing. For his sake, he better hope he is ready. Did he do a murder board with staff and lobbyists? Did he prepare his initial statement carefully with the Congresspersons and the American public in mind? Executives from the American tobacco and oil/gas industries can tell him how difficult such hearings can be. One congressperson after another will play showhorse by berating him on national TV. Hearings are theater for the political class. They rarely are objective inquiries, especially in an election year. In today's case, the issue of monopoly will come to the fore. Congress has heard the cries of the smaller players in Silicon Valley and members will take up their cudgel. Will there be much fallout from the time in the spotlight? It's hard to say with a divided polity, but if Democrats win both Houses in November's elections, the enormous tech companies should worry. Meanwhile, sit back and evaluate Jeff's performance.
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