Shervin Pishevar is definitely right about one thing — Amazon is now a monopoly. He compares Amazon, along with four different other tech companies, to AT&T in the 1980s. The government had to break up AT&T in order to restore competitive balance in the telephone industry just a few decades ago. And now I think the government needs to step in with Amazon.
Shervin Pishevar tweets that Amazon is crushing innovations. The company is so large that nobody can compete which makes it a monopoly. It’s now valued at $1 trillion and its owner and founder, Jeff Bezos, is the wealthiest man in the history of the world. There is simply no way for any other online retailers to exist.
This allows Amazon to exploit its workforce. Many of its warehouse employees say that they cannot go to the bathroom during their shifts. Their warehouses are so large that many employees cannot physically walk to the break room in time in order to take a break. Employees have been known to pee water bottles during their shifts while many others are on government subsistence.
Amazon is essentially taking welfare from the government. They pay their workers so little that many are forced to go on food stamps and use government housing. That means the American taxpayer is helping to pay Amazon’s employees through government programs. Amazon needs to be broken up like AT&T back in the 1980s in order to restore dignity to warehouse employees across the country.
Shervin Pishevar took aim at Amazon and other tech companies in a twitter storm that lasted more than 21 hours. The legendary investor took time off in order to eat dinner, but then returned to his smartphone to continue his tweetstorm. He says that companies like Amazon are crushing innovations around the country by purchasing any competitors.
The early investor in Uber continued to say that the squelching of innovations bodes poorly for America’s economic prosperity. He believes that the market will crash 6,000 points in the aggregate as uncertainty swirls around Trump’s trade deals. Shervin Pishevar paints a very grim economic picture for the United States of America.