A decade ago, a surging Silicon Valley giant was making plans to dominate the internet. Given a chance to stop it, regulators chosen by Barack Obama misread the evidence in front of their eyes.
Few moments in the power struggle between Washington and Silicon Valley have inspired more anger and bafflement than one in January 2013, when antitrust regulators appointed by former President Barack Obama declined to sue Google.
Nearly a decade ago, the documents show, the FTC’s investigators uncovered evidence of how far Google was willing to go to ensure the primacy of the search engine that is the key to its fortunes, including tactics that European regulators and the U.S. Justice Department would later label antitrust violations. But the FTC’s economists successfully argued against suing the company, and the agency’s staff experts made a series of predictions that would fail to match where the online world was headed:
— They saw only “limited potential for growth” in ads that track users across the web — now the backbone of Google parent company Alphabet’s $182.5 billion in annual revenue.
ANYONE could see what was coming. But Obama couldn’t?
He’s either an asshole or was getting kickbacks.
No one could be that stupid.
And this administration is Obama 2.0
– God help us all.