business news in context, analysis with attitude

Content Guy’s Note: Stories in this section are, in my estimation, important and relevant to business. However, they are relegated to this slot because some MNB readers have made clear that they prefer a politics-free MNB; I can't do that because sometimes the news calls out for coverage and commentary, but at least I can make it easy for folks to skip it if they so desire.

•  From the New York Times this morning:

"In the days after lawmakers introduced legislation that could break the dominance of tech companies, Apple’s chief executive, Tim Cook, called Speaker Nancy Pelosi and other members of Congress to deliver a warning.

"The antitrust bills were rushed, he said. They would crimp innovation. And they would hurt consumers by disrupting the services that power Apple’s lucrative iPhone, Mr. Cook cautioned at various points, according to five people with knowledge of the conversations.

"The calls by Mr. Cook are part of a forceful and wide-ranging pushback by the tech industry since the proposals were announced this month. Executives, lobbyists, and more than a dozen think tanks and advocacy groups paid by tech companies have swarmed Capitol offices, called and emailed lawmakers and their staff members, and written letters arguing there will be dire consequences for the industry and the country if the ideas become law."

“In a way I’ve never seen before, they are fighting tooth and nail,” Gigi Sohn, a distinguished fellow at Georgetown University’s Institute for Technology Law and Policy, tells the Times.  “They consider these bills existential for them because they get at their business models.”

KC's View:

There's a pretty good rule when talking about this stuff.

Never bet against the lobbyists.

Not that this is good for democracy.  But it remains a pretty good rule.