Sen. Elizabeth Warren (D-Mass.) has been campaigning to break up some of the largest tech companies including Google, Apple, and Facebook, claiming that big tech have “too much power over the economy, society, and our democracy.”
Jean Case, CEO of the Case Foundation and former AOL executive, told FOX Business’ Stuart Varney that tech companies should be watched more carefully.
“I do think that we need to look at some things that could be crowding out competition today,” she said when asked if Facebook, Google, and Amazon are too big. “Without intention perhaps, we could look at a system and see if there is room for others to come in.”
Case also mentioned how these big technology companies are impacting new startups.
“New startups are at a 30 year low. We need all the players and ideas on the field, she said on Wednesday."
Case, who has worked in the technology industry for about two decades, explained why people may be calling for the breakup of big tech.
“I think we need to listen for why people would even call for a breakup, and that is because there is too much consolidation today of where the capital is flowing.” Said Case.
When asked about technology companies creating large capital and then spreading it to other industries, Case said, “When you build a great big company, you create a great ecosystem around it that creates opportunities for small businesses. When it gets wrong is when we’re not seeing other companies flourishing and other startups flourishing.”
Case is the author of “Be Fearless” where she writes about living a life with five principles that propels you through breakthroughs and with purpose.
“It’s ordinary people who do extraordinary things, but we need all the players and all the ideas on the field.”