Entrepreneur and NYU professor Scott Galloway appeared on Morning Joe to talk about Mark Zuckerberg's total capitulation to Trump yesterday.
"What is so shocking -- I mean just from a personal standpoint, what's the point of having all this money if you aren't at some point going to show some fidelity as a 40- or 50-something year old man that has the wealth of the GDP of a Latin America nation, to actually standing up and showing some fidelity to American values? Bezos has the yacht. Tim Cook, Jensen, worth more than Intel or Boeing.
"When do the men show up here? When do the Americans show up here? So this is not only incredibly shocking, but disappointing from Trump, but where's the leadership? Where are the men that have such blessings and such prosperity from the rule of law and capitalism and competition? We don't need more mergers and acquisitions. We need more breakups," he said.
He pointed out the actual cost of these monopolies like Facebook, Amazon, and Instagram in the higher prices we pay.
Scarborough talked about how Lina Khan tried to break it up, "and you seriously would have thought that Karl Marx was marching down Wall Street. You combine that combination that you're talking about with the fact that billionaires are getting richer and richer by the second while screaming socialism, and what -- what does that say about where American capitalism is going over the next five, ten years?"
"I think it comes down to a basic question, what is America?," Galloway said.
"My kind of economic role model is Peter Drucker. An economy in America exists to create a robust middle class. The most ascendant countries have been China and India. One litmus test, how many people are you bringing into the middle class? The greatest innovation in history is the American middle class. Beat back fascism in the middle of World War II. It has financed and built the greatest innovations, whether it's radar, whether it's the internet, vaccines.
"The middle class in America is the greatest innovation in history. People like to fall back into this right wing notion it's naturally self-healing. It's not. It's an accident in history. Typically you have a small number of people who weaponize government. They're very talented and aggregate power. They aggregate more and more spoils.
"The good news is, it's self-correcting. The bad news is, the means of self-correction are typically war, famine or revolution."
