amazon, google, facebook, apple. things like discriminating between different sellers or different entities with which you have an economic relationship. apple gives amazon prime a sweetheart deal in the app store. everyone else has to pay top dollar. these are all types of predatory activities that in the past we had enforced against to protect economic dynamism and help people move from having a good idea to being able to grow to be large and to scale. there is not a problem with bigness. there is a problem with monopoly power. and that is what we see in digital markets today without question, and that is also throughout a range of different industries in the economy, whether you're looking at meatpacking and agriculture or hospitals or media. challenge.ystemic this is what our organization focuses on, the tip of the spear is digital markets, and yesterday's hearing was really a watershed moment. congress comes together, both democrats and a number of republicans, to really ask some very serious and important quest

facebook and google controlled digital advertising markets. they have monopoly. that's a of the ticket when an apple controls the app app stoe which the millions of developers which consumers. so there's a whole range of issues both related to market power and the predatory behavior that that market power enables these companies to participate in. it was remarkable to me that you acidulated mark zuckerberg and jeff bezos admitting to acquiring competitors to shut down competition. rather than investing in the innovation that barbara comstock was talking about. that is been their strategy from the beginning, to buy it competitors, to squash competition and to maintain dominance through through a stf monopolizing markets and through leveraging network effects. on another point the china talking point is really quite tiresome. it's a good scare tactic but our economy has not been successful because we have a handful of goliaths that don't really innovate, that maintain a dominant position. china has infinite state capital to support these large institutions, but our

. >> host: the ceos of amazon, facebook, google and apple were virtually on capitol hill for a hearing on big tech and antitrust. that is our discussions this week on "the communicators". joining us is sarah miller who is with the american economic liberties project, executive director there and former congresswoman barbara comstock who is now senior advisor at baker donelson. sarah miller, the question i was asked quite a bit at the hearing was his big tech to big? what is your answer to that? >> right, i think the obvious answer to that is absolutely. the members of the subcommittee, both the democrats and a number of the republicans really focused in on the power of these corporations over the way we communicate and the way we engage. that was the dominant theme of the hearing. they also got into the god of how these businesses work and how they use their dominance and how they're engaged in predatory behavior and how they are hurting other businesses, small, medium and everyday families. it was really quite remarkable hearing, night and day from the hearings that we saw just a coup

be equal rules for everyone and that is not the situation today people making the point that google facebookfor instance have more influence than than most governments but is there anything wrong with that why should governments have a monopoly on power. that's such a fascinating question as governments become centralized in any fashion there is opportunities for collusion with with businesses that are succeeding at a certain level that's when we start having this stratified rule set the rule of law starts to break down in any country and once company can overtaken and work with the politician is supposed to be protecting the public then you can get some you know problematic behavior that's unaccountable and then the rule of law operates now. hong kong has joined beijing and denouncing washington's decision to suspend a series a bilateral treaties and what is the latest spat between the 2 countries it comes just weeks after the u.s. also began targeting high ranking hong kong officials with sanctions including the city's chief executive the united states unilateral decision reflects its disr

providing innovation rather than at the monopolistic in their aims last month aapl along with google facebookalmost on where question in the u.s. congress and we're told they have quote too much power under a danger to the american economy have they become too powerful i don't want to blame apple and google and amazon so much as i just think the rules should be applied fairly and evenly to everyone so everyone has a chance to get to get big and wealthy and serve the community the consumer to excellence but i think that's the most important thing and that's that's the essence of what we mean by free enterprise it's supposed to be equal rules for everyone and that is not the situation today people making the point that google facebook for instance have had more influence than than most governments but is there anything wrong with that why should governments have a monopoly on power. that's such a fascinating question as governments become centralized in any fashion there is opportunities for collusion with with businesses that are succeeding at a certain level that's when we start having this s

be equal rules for everyone and that is not the situation today people making the point that google facebookr instance have more influence than than most governments but is there anything wrong with that why should governments have a monopoly on power. that's such a fascinating question as governments become centralized in any fashion there is opportunities for collusion with with businesses that are succeeding at a certain level that's when we start having this stratified rule set the rule of law starts to break down in any country and once company can overtake him and work with the politician is supposed to be protecting the public then you can get some you know problematic behavior that's unaccountable and then the rule of law breaks now. a court in germany how sentenced the woman to 21 months in prison on terrorism charges the 30 year old dual citizen of syria in germany was falling guilty of sending several young women to syria to become brides of islamic state fighters the prosecutor was asking for 3 and a half years in prison however the court to tell the defendant had spent in a turk

innovation when they get so large and jeffrey just on the issue of power last month aapl along with google facebook almost on were questioned in the u.s. congress and were told they have quote too much power under a danger to the american economy have they become too powerful. i don't want to blame the tech giants of selves i mean during these lockdowns have provided or destroyed their service i think they've earned their highest prices and they've they've earned their their wealth and through service my problem is precisely as our. guest says it's the unfair rules. right now we're living in a regulatory system and a lot answers from the penalizing everybody but the large tech giants and it goes all the way to the retail level right i mean the mom and pop stores are being shut down while wal-mart is is thriving said i don't i don't want to blame apple and google and amazon so much as i just think that rules should be applied fairly and evenly to everyone so everyone has a chance to get to get big and wealthy and serve the community consumer to excellence i think that's most important thing and ther

companies like google, facebook, and amazon. final preparations are underway for the democratic national convention later this week and milwaukee. c-span will have live coverage of the event spanning several days, which is expect it to be scaled back due to the coronavirus pandemic. we spoke with one of the convention planners to find out what to expect. stephanie, at what point during the pandemic did you realize you were switching from a more normal convention to one that would be more virtual? >> we were hopeful as the pandemic was unfolding in the early months of this year, moving our dates back by a month, we were hoping we could still hold a physical convention where delegates could come to milwaukee and we could conduct party business but also produce a traditional convention. pretty soon after that as the lockdown continued, it was clear that wasn't going to happen so we started planning for a convention that is fairly unconventional compared to years past but it has taken a while to figure out exactly what it will be an

i agree with guy i think this is about facebook, google, snapchat being accepted and allowed into the country i think this is just a leveraged tool to allow our companies fair play within their country. having said that, none of this matters unless the market really starts to take a pulse and see where we're going from here. i think the markets overcorrect and i think really the bite is much less than the bark. i think it will be the same way this time around as well. >> there is the potential speed bump let's say longer term that the growth story remains intact for a lot of these hot chinese tech companies even with this executive order in place if there is sort of a move against chinese companies, that would have a ramification in terms of etf holdings for some of these stocks. i would imagine some of these etfs wouldn't be able to hold non-u.s. listed companies. that could be the speed bump in the immediate term, if not later on. >> yeah. intermediate term for sure i think the deadline to be met is '21 or '22. there is some time there as the other panelists have said, this isn't re

in us i'm going to go be pretty bold here there is no way the government is going to break up google. facebook the rest because if they do they see the ai skeery already checked. and that's the real us and if they so so so in a communist get government and some to manage their government they're collecting all this data the ai capabilities of china what's happening there i've seen firsthand i've seen some of what's what's happening there i know some of the city c.e.o.'s there what's happening there is mind boggling how fast it's moving because it's because it's aggregating data on mass and they don't have to ask anybody's permission. right and so so breaking up the monopolies and in the us effectively seize control of ai to try and so on like the ninety's had a 20 twentieth's we have a i and you're saying that all those trends that we've seen now for 30 years to our cost going to 0 ad artificial intelligence to the max and it becomes a whole nother layer of interesting economic herself in particular with china because for example there are discussions about their app called tic tac tick tock e

google and facebook in the same ones you always hear. no longer are just search engine platforms all social media platforms or video sharing platforms they increasingly will branch out into other areas amazon is no longer just a seller of products it's also a provider of all sorts of mazing webspace the most highly valued companies in the world have long been platform businesses the top ranks are occupied solely by american and chinese companies microsoft apple amazon google and facebook china's front runners are all the above are intense and. the only german company to even make the top $100.00 is as a ranked 58th in the world. but some german companies are trying to catch up in the summer of 21000 fashion retailer salon dot opened its new headquarters in berlin twice a month is onboarding day when they welcome all the newcomers. there are 200 today alone 200 out of 14000 accounting. for snacks are tailored to the new workforce. the average the londo employee is in the early thirty's and speaks english. they come from all over the world

. >>> google, facebook, twitter, and other big tech companies say they're coming together to work withhe government to protect the integrity of the no. the group includes linkedin, microsoft and the tech companies held a meeting with government agencies to provide updates on what they are seeing on the platforms. the company say they're working on strategies to prevent the spread of misinformation and prevent foreign interference. >>> a new bill in congress would guarantee on-time mail delivery. it would block the postal service from reducing overtime and adjusted delivery policy during the pandemic. some people are concerned that delays in mail could impact the election if absentee ballots failed to reach the centers on time. the postmaster general recently introduced cost-cutting moves, which could only make people more difficult for the agency before the election. >>> we are going to talk about one of our other big stories today, our weather. because it is about to get hot hot hot. pam and steve. >> yeah. >> not just today, for about a week. yeah, that's the way it's looking. but af

maybe dabble in facebook might need that control center more than ever. >> yeah, obviously, facebook and googlealmart, actually with shopify on that marketplace. so, i think there's certainly a healthy opportunity for each of them to be successful in meeting the needs of sellers and customers. from specifically to facebook, i don't know about their new announcement that we just talked about, but given the size of the market opportunity with global retail, i think shopify would appreciate, you know, multiple channels to help them serve those small businesses just like, you know, amazon has put a tremendous amount of focus on those small and medium-sizes sellers to be able to provide service, amazon prime, same-day delivery all of the fantastic discovery mechanisms i think you're going to see innovation across each of these players as they really look to see what customers are going to respond to >> so, what about the smaller players, greg? where do you see the biggest opportunity for the type of innovation that's small businesses are going to need at a time like this, as they look ahead to a q4

news publishers produce valuable content, it's google and facebook that increasingly profit off that content. establishers have told us that google and facebook maintain their dominance in these markets through anticompetitive conduct as well as conflict of interests. mr. zuckerberg, in 2015, facebook reported high and quickly growing rates of video viewership on its platform. based on these metrics, news publishers fired hundreds of journalists, choosing to boost their video divisions. in 2018, it was discovered that facebook has inflated these metrics and had known about the inaccuracy several years before facebook disclosed this. mr. zuckerberg, did you know that these metrics were inflated before they were publicly released? >> congressman, no, i did not. and we regret that mistake and we have put in place a number of other measures since then to make sure that we -- >> and do you realize the harm that this caused journalists across the country? >> congressman, i certainly know how important it is that the metrics that we report are accurate and we've put in place additional measu

as far facebook and google i would look at at antitrust hearings. ope for being too big in facebook's case. purchase of instagram and whatsapp, whether or not that gives facebook way too much control when it comes to social media. so who actually has the capacity to buy tiktok? it would be these tech giants because they do have the cash but do they have the bandwidth when it comes to regulation and comes to interest? i would say not in apple's case. maybe google, facebook. stuart: depending on the price. stuart: it is fascinating. big tech have all the money, there is a dirt cheap, ready social network for the buying. somebody will take it. i find it absolutely fascinating who is able to take it. they have got the money. we'll be covering this for the next hour 1/2 for sure. susan: yeah. stuart: let's -- we're still looking at the president. we're waiting to see if he says something about anything other than the great american outdoor act. he is introducing it now. he is going to sign it shortly. we're listening to anything he might say. the dow indu

in particular, there is an opportunity for e commerce to get intersected frer everyone from facebook to google are trying to find a way to get part of social and walmart wants a part of that >> i want to pick up on something that john mentioned earlier. i found it so interesting that when vanessa papas came on cnbc earlier today she said a few times that she was not involved in deal conversations. this is also the reason that kevin mayer left it raises a few questions to me. one is how involved can the american leadership really be if it is not even involved in deciding the company's future. and by the way american leadership that it is not totally chinese controls, and two do you think that the bi bitedance founder will really give it up >> it is really important to recognize the fact that this is a progrebroader conversation tht is happening between one company and some acquirers this has been happening since china, at the technology level were for now over a decade google, facebook, tumbler. they have all been banned in china for awhile so they're trying to figure out the right way to respo

google, facebook, banned by china. so there's, you know, reciprocal action.ind — let's be fair. the trump administration has been acting erratically, irrationally, and without a strategy. and henry kissinger told me this — the united states doesn't have a strategy to deal with china. the chinese do have a plan and they are working according to it. and so, if the united states wants to enhance its own interests — and i'm not saying that united states should act against its own interests, i think we want to see a strong united states — then what the united states should be doing is cooperating with the rest of the world. and as you know, the united states walked away from the tra ns—pacific partnership that had been negotiated by president 0bama and vice presidentjoe biden. that was a geopolitical gift... yeah, 0k. ..to america which trump threw away! 0k, henry kissinger told you that there is no proper strategy, and a slightly long quote to give to you, but it's one by the former m16 chief, the british, obviously, sirjohn sawers, speaking injuly this year. he

though it is just united states, but it is who fired the first shot in this technology war, google, facebookboth sides. you can blame both sides but at the same time, let's be fair. the trump administration has been acting erratically, irrationally, without a strategy, henry kissinger told me this. the chinese do have a plan and they are working according to it, and so, if the united states wa nts to and so, if the united states wants to enhance its own interests, and i'm not saying that the united states should act its against its own interest, the united states should be doing, cooperating with the world in the united states walked away from the transpacific partnership that it had been negotiating for yea rs, it had been negotiating for years, a geopolitical achievement which trump through away. henry kissinger told you that there is no proper strategy. a slightly long quotes strategy. a slightly long q u otes to strategy. a slightly long quotes to give to you but one by the former mi6 chief, the british obviously, speaking in july of this year. we must be careful not to turn china into a

microsoft, google, facebook.as helped the stock market but has not fixed the economy and has not affected the systemic economy >> you can make the argument the argument has been made that with us reclaiming the market, seeing things back in february when the market was last at highs. nothing could be further from the truth. we know the paean has hit hard how much optimism is being priced into the market now >> if you look -- the market doesn't reflect what is happening in the economy, as i was mentioning, because 45% of people don't even own stocks not only are they not participating in recovery. they don't care that nasdaq is up 30% now you have the dollar at three-year lows. now food prices are going up they have the double whammy of not being in the market but food prices are also going up we still have 20% of the company that are zombie companies. they are not a business model. they are just able to borrow more and more money. because of the reopening and the fed has stepped in, we can get a bridge until the

and providing innovation rather than the monopolistic in their aims last month aapl along with google facebookamazon were questioned in the u.s. congress and were told they have quote too much power under a danger to the american economy have they become too powerful i don't want to blame apple and google and amazon so much as oh i just think the rules should be applied fairly and evenly to everyone so everyone has a chance to get to get big and wealthy and serve the community consumer to excellence but i think that's the most important thing and there's a that's the essence of what we mean by free enterprise it's supposed to be equal rules for everyone and that is not the situation today people making the point that facebook for instance have more influence than than most governments but is there anything wrong with that why should governments have a monopoly on power. that's such a fascinating question as governments become centralized in any fashion there is opportunities for collusion with with businesses that are succeeding at a certain level that's when we start having this stratified ru

still ahead, the steps facebook, google and others will take in the coming months. >>> plus, san francisco tourism has been hit hard by the pandemic. up next, the impact it -- the economic impact on the city. (upbeat music) - [narrator] food delivery just got more rewarding, now that grubhub gives you rewards when you order. did you order tacos? again? boom, rewarded. (chewing) (dog barks) ordering dinner for the family? voila, rewarded, with a side of quiet. (baby mumbling) grubhub rewayou order. - [group] grubhub. (upbeat music) good morning, 5:22. going to be a beautiful day. it is going to be too hot for some but still going be a very nice day. johnny nash, thank you, kelly for the request. it is traffic jams here and you can send me a song if you would like. facebook, twitter, instagram, and then use the hash tag ktvu. [music playing] >> love that song. i will be wishing for a little rain over the next couple of days but its not coming. thank you. >>> we are learning the impact the pandemic has had on san francisco's largest industry, tourism. ktvu's rob roth spoke with experts who sa

and providing innovation rather than the monopolistic in their aims last month aapl along with google facebook amazon were questioned in the u.s. congress and were told they have quote too much power and are a danger to the american economy have they become too powerful i don't want to blame apple and google and amazon so much as i just think the rules should be applied fairly and evenly to everyone so everyone has a.

facebook in. you do not let google in. you do not let twitter in. you do not let these platforms in, but your foreign minister is on twitter all the time. tweeting away. your operatives are on facebook engaging in conversation, yet we cannot do the same in your country. here you come with a state subsidized social media app , again, and you will get all of this demographic and this trend analysis on our youngest generation, yet we cannot come into your market? that does not seem fair, so we are going to stop it. maybe you use this as a leverage point to say you can be in our app market if we can be in yours. but it is completely one-sided right now, and i think some negotiations have probably failed, so it is turned into this gross negotiation. >> jeff moss, have you been a tiktok user in the past, and what kind of social media do you use? >> we have done def con in china twice now, so i use the chinese version. bytedance produces multiple versions. there is a domestic version and a foreign version. when we talk to people in china, we use wechat. it

we'll talk about google, facebook, pinterest, et cetera it turns out that facebook was the most resiliente least deceleration because they have a really robust direct response they serve eight million advertisers. there is always someone willing to sell you something in your news feed and there are eight million that compete to make it more resilient and there is two things i'm focused on political campaigns that we think can add a point or two to the growth rate. you're seeing a lot of spend the other is the rise of social commerce we're seeing more and more activity like that occur on facebook that means the cpms can go up for facebook near term and long term we like facebook and in terms of valuation it is one of the cheapest on the growth adjusted basis. >> mark, you know on uber i'm reminded of what jim chainos said on our air, he said we're paying for the benefits of those laid off because they're independent contractors and they never paid into the pool. there is broad headlines being written. they say it is the end of the gig economy. how do you push back on something like that? >

don't thank you are hurting the economy but is more about haiti china, you don't let facebook and any don't let google and and you don't let twitter in and you don't let any of these platforms in but your minister or foreign minister is on twitter all the time and your operatives are all over facebook engaging in conversations yet we can't do the same in your country so here you, with this subsidized popular social media apps again and getting all the demographic and all this analysis on her youngest generation yet we can't come into your market, that doesn't seem fair so we will stop it and maybe use this as a leverage point to say we can to be in your at market if you aren't in ours but it's completely one-sided right now and settle negotiation it has probably failed and has turned into this gross negotiation. >> host: jeff moss, have you bending tiktok user in the past and what social media do you personally use? >> guest: we have done def con in china twice now and i use the chinese version called [inaudible] and so they produce multiple versions. there is a domestic and foreign version, tiktok ju

big tech, facebook, google, apple, amazon.ixed but in the green casino stocks, that would fit in with the travel, cruise-related issues as well andrew, you were in new jersey you could have done draft kings if you had wanted. we can do it, as you know, in new jersey if you wanted to get a taste of it, you can. >> in new york or connecticut is it -- >> no, no, no, no, no, no. >> not allowed >> no, no, no, no. >> i do not -- >> un-uh >> got it. i've been in new york and it's like, okay, i forgot to do that. i try. on your phone they know -- the police are there you know, the gambling police are on your phone not allowing you to do anything anyway, take it away, andrew >> i used to know a bookie -- it's a longer conversation joining us right now to talk markets and much more is joel greenblatt, managing principal and co-chief investor of gotham asset management he's author of "common sense." joe, we're going to talk about the book in just a minute. first, want to talk about the markets and talk about a little bit of common sense

questions are likely to focus on the ftc investigation into acquisitions by big tech companies like google, facebook and amazon. >> during the summer months reach out to your elected officials with c-span's congressional directory. it contains all the contact information you need to stay in touch with members of congress, federal agencies and state governors. order your copy online today, c-spanstore.org. >> un ambassador kelly craft discusses policy toward china, iran and north korea, and how the un is responding to the coronavirus pandemic. this is from the aspen institute annual security for him. >> we are privileged to have with us the current us ambassador to the united nations, kelly craft. this is the first time the aspen security form has been able to host the us ambassador to the un so we are particularly grateful to you for making the time. kevin -- kelly craft hails from the great state of kentucky and served as our permanent representative to the united nations since september of 2019. before then she was us ambassador to canada for two years and during that time, very complex time, she

providing innovation rather than at the monopolistic in their aims last month aapl along with google facebook amazon were questioned in the u.s. congress and were told they have quote too much power under a danger to the american economy have they become too powerful i don't want to blame apple and google and amazon so much as i just think the rules should be applied fairly and evenly to everyone so everyone has a chance to get to get big and wealthy and serve the community consumer to excellence i think that's the most important thing and there's a that's the essence of what we mean by free enterprise it's supposed to be equal rules for everyone and that is not the situation today people making the point that facebook for instance have had more influence than than most governments but is there anything wrong with that why should governments have a monopoly on power. that's such a fascinating question as governments become centralized in any fashion there is opportunities for collusion with with businesses that are succeeding at a certain level that's when we start having this stratified rule