Sen. Elizabeth Warren. (Flickr Photo / Elizabeth Warren)
Nice politics, wrong policies.
That’s the general consensus from Seattle-area venture capitalists in response to Sen. Elizabeth Warren’s big plan to break up Big Tech.
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Warren set off a firestorm late last week when she introduced a bold vision that would regulate tech giants including Facebook, Google and Amazon as utilities and roll back some of their biggest acquisitions.
In her proposal, the 2020 democratic presidential candidate cited statistics showing how Big Tech has negatively impacted startup creation.
“Weak antitrust enforcement has led to a dramatic reduction in competition and innovation in the tech sector,” she wrote. “Venture capitalists are now hesitant to fund new startups to compete with these big tech companies because it’s so easy for the big companies to either snap up growing competitors or drive them out of business.”
Threshold Ventures Partner Bill Bryant (GeekWire Photo / Taylor Soper)
While it’s true that companies including Facebook and Google wield extraordinary power in industries such as digital advertising, investors say Warren’s plan would more harm than good for startups.
Bill Bryant, a longtime partner with recently rebranded Threshold Ventures, said …read more