EDITOR’S NOTE: This editor believes in open dialogue as noted below by AMAC, but doesn’t necessarily agree with all of President Trump’s latest comments on Ukraine starting the Russian Invasion, eliminating vaccinations, and eliminating some important government jobs. However, I’m glad Trump is making adjustments in cleaning up wasteful spending in our government! After all, we as taxpayers should NOT have to pay for wasteful programs!
I also believe President Trump should restart the former FDR Works Progress Administration (WPA) program for all people on welfare! The WPA was created to return the unemployed to the workforce. The WPA financed a variety of projects such as hospitals, schools, and roads, and employed millions of workers who built 650,000 miles of highways and roads, 125,000 public buildings as well as bridges, reservoirs, irrigation systems, parks, playgrounds and so on.
The spectacular dominance of America’s Magnificent Seven tech firms with $1 trillion-plus market caps has been a marvel to behold and a genuine source of American pride. This is a theme that both President Donald Trump and Vice President JD Vance have in celebration of American business prowess. The Magnificent Seven companies: Amazon, Apple, Google, Meta, Microsoft, Nvidia, and Tesla have a combined net worth greater than all the companies in Europe.
Big Tech on AI
The mystery is why many regulators in Washington view these digital-age companies, whose continued rocket-ship growth has created hundreds of thousands of high-paying jobs for Americans, as villains, not heroes. They keep calling for a blanket of smothering regulations via antitrust laws to rein in their market power.
Now we have lawyers and lawmakers in Europe taking action to slam the brakes on these companies. These court actions are particularly pernicious (causing destruction) because the cost of Internet services, search engines, cellphones, online shopping, artificial intelligence, and electric vehicles has come down, but the courts and the lawyers say that they are crowding out the smaller startups. The sharks are apparently swallowing up the minnows.
But this whole “break up” Big Tech mentality advanced on the left and the right is particularly misguided because the tech industry of 2025 is characterized by thousands of smaller and often more nimble “little tech” companies that compete with each other and Big Tech, providing exciting catalogs of new products. Former Google personnel have created over 2,000 startups, including Inflection AI, Adept AI, Cohere, Perplexity AI, Twitter, Instagram, and Pinterest.
How many times have you heard the complaint that American companies are too short-term oriented and don’t look past the next quarterly report? Then how is it that Google invests more than $10 billion a year in research and development? Why is it that Meta has invested over $46 billion since 2021 into Reality Labs, focusing on building augmented reality and virtual reality?
Many of the breakthrough achievements of the next decade are just as likely to come from venture capital-funded startups that no one has heard of today. In Silicon Valley, these disruptive upstarts like OpenAI are known as unicorns. As of 2024, the world had more than 1,400 unicorns, over half of which were founded in the United States.
Federal regulators and the antitrust cops are the poisonous disrupters of these capitals of innovation. The ethos of Washington is: You can succeed and grow and become profitable, but not too much! This sadly allows China to become dominant in technology and possibly the largest economy in the world! Condensed article courtesy of AMAC and Stephen Moore with the Heritage Foundation.