business news in context, analysis with attitude

With brief, occasional, italicized and sometimes gratuitous commentary…

•  Bloomberg reports that "Facebook and became the largest corporate lobbying spenders in Washington, D.C., the last two years, outstripping defense contractors and telecommunications providers, according to a new report from a progressive consumer advocacy group.

"Facebook increased spending 56% to $19.7 million between 2018 and 2020, while Amazon spent 30% more to reach $18.7 million … The technology giants increased their spending as they came under unprecedented antitrust scrutiny in Washington."

The story notes that "the figures were based on data provided by the Center for Responsive Politics, which tracks lobbying disclosures."

And here's another interesting data point from the story - that "nearly all lawmakers with oversight over privacy and antitrust matters - 94% - have received money from a corporate political action committee or a lobbyist representing a big technology company … In 2020, lawmakers received about $3.2 million in contributions."  And that doesn't even include money from trade associations that represent multiple companies.

Best government money can buy.