It’s been a pretty rough year for the tech sector. But you wouldn’t know that by listening to the likes of Senators Amy Klobuchar or Josh Hawley.
Anti-capitalist, populist politicians from both major parties have set their targets on this industry via antitrust bills meant to “break up” major tech companies and devastate their market position. Yet, ironically, the market may beat them to it. Facebook’s value alone has plummeted by hundreds of billions of dollars in 2022 and its CEO recently said layoffs were looming. And last week, the six largest tech companies in the US lost over $500 billion when tech stocks tumbled following a very high August inflation report.
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