1. Amazon is in a world of legal hurt — I just read the less-redacted version of the FTC’s monopoly lawsuit. Lots of evidence of Amazon execs knowingly screwing consumers & killing competition, aware of their own wrong-doing.
A few highlights. First, destroying evidence.
Amazon is changing its search results to favor items located in a warehouse near the shopper -- This is another way to compel sellers to choose Amazon's logistics over USPS or UPS. If they don't, they could lose their spot on the first page of results. https://t.co/vUa8Y3npub
SCOOP: The @foxandfriends segment with @GiannoCaldwell in Naperville was staged. Big Dale confirmed it to @TheTRiiBE. Y’all will learn to stop playing with Black Chicago. And I mean that. Details ➡️ https://t.co/VcvwykiSUr
Small independent businesses are disadvantaged by a tax code—yet they still outperform corporations in important ways.
Here are two prime examples from our report with @stacyfmitchell @SusanRHolmberg at @ilsr: 1/3 🧵https://t.co/uYazzzbI9R
Well done, @Andrefor40th "The same kid out there 'wilding out' right now, can become the next elected official, or doctor, or artist, but we have to help get them there, as a village. That’s the Chicago we want to live in."
"Local officials agreed to pay the company part of an increase in tax revenue from hotels and short-term rentals, assuming that the new headquarters would boost local hotel stays. . . That increase in Arlington revenue has yet to materialize."
Amazon is postponing much of HQ2 in Arlington VA and many of its new hires there are still working largely remote, yet it's about to collect its first tranch of $152 million in taxpayer subsidies from the state of Virginia. @teoarmus:
https://t.co/JSJiPT9GGW
The first corporate tax policies, enacted around 1900, were a clear check on monopoly power.
Today, our tax system seems tailor-made to do the reverse: fuel concentration and kill small businesses.
ILSR's @SusanRHolmberg and @NikoLusiani explain: https://t.co/5l0cT1NYbM
After scooping up Whole Foods and MGM studios, it would ironic if Amazon's acquisition of a modest Roomba maker finally put it in the sights of antitrust enforcers.
But that could be just what happens, says @djtgallagher
https://t.co/Hq7c7LpTeM
This is an important move by the CFPB. We have very little data on small business generally, and shockingly little on loan and credit outcomes. Without data, you can't fix problems, and there are a lot of problems in small business lending that need fixing.
Looking back on Amazon's HQ2 stunt (in light of today's news), I'm struck by two things. They are kind of contradictory.
One is that it helped Amazon amass power. It got so much strategically valuable data from cities that informed & powered its growth. 1/
1. Hello. Dollar stores are an invasive species - multiplying out of control and suffocating local ecosystems. In a new report, we show how they harm communities, the tactics they use to crush small shops - and how policymakers can help. A big thread.
https://t.co/sBwjbBEqEX