Hey, Liz Warren! Remember when MySpace was an internet Goliath?
Facebook, with its censorship of conservatives, has been problematic lately, but does anyone with a brain think Democrats are going to be the white knights to fix this?
Elizabeth Warren thinks she's the answer, and, well...John Merline of Issues & Insights thinks her regulatory ideas are about as credible as her claims to Cherokee heritage. Giving the obviously Magoo-ish Democrat some perspective, Merline writes:
What? You don't know what MySpace is?
Just 12 years ago, it was considered a giant, unstoppable social media monopoly that required government intervention to protect consumers.
After citing the media froth on that company's supposed omniscient power, Democrats got involved, declaring they were the ones to get in there and start regulating and running it. Then this happened:
It wasn't long after these warnings that MySpace became an also-ran in the social media scene after losing out to Facebook. In fact, less than three years after it was declared a "natural monopoly," the company had to lay off half its staff.
This shows the folly of politicians getting involved when the free market is so efficient. Facebook may need to change its ways on censorship, but customers are the ones who usually send the strongest messages, not Democrats. They did with MySpace, and there's no reason to think they can't do it with Facebook, too, if they continue to piss off their customers. In fact, the moves Warren is proposing tend to entrench monopolies, as Merline notes, which might explain why Facebook-owner Mark Zuckerberg says he wants regulation.
Liz Warren is an old lady and ought to know better. But as first and foremost a Democrat, she sure as heck doesn't. Read the whole thing here.