Jim Cramer expressed concerns about Gail Slater’s potential role as Assistant Attorney General for Antitrust, indicating she is not a supporter of big tech companies like Google. With President-elect Trump’s focus on competition issues, Slater’s appointment could result in significant scrutiny and challenges for tech firms. Recent legal actions against Google further exemplify the tough approach towards large tech companies under the forthcoming administration.
On Wednesday, Jim Cramer, the host of CNBC’s Mad Money, expressed concerns regarding the proposition of Gail Slater as the new Assistant Attorney General for Antitrust. Cramer indicated that Slater is not recognized as a proponent of major technology firms such as Google, owned by Alphabet Inc. Her impending appointment comes as President-elect Donald Trump underscores a firm focus on competition issues within the tech industry.
Cramer emphasized, “She’s not known as a friend of big tech,” implying challenging circumstances for companies like Google. Slater’s previous experience involves significant roles in the White House’s National Economic Council and the FTC, where she played a part in thwarting mergers. Her responsibilities are expected to align with the government’s stringent approach towards monopolistic practices in the technology sector.
The background context includes the recent actions by the U.S. Department of Justice towards Google, targeting its dominance in the search market and seeking the divestment of its Chrome browser. Trump’s administration has indicated an aggressive stance against tech giants, which raises potential implications for firms such as Apple, particularly given proposed tariffs on Chinese goods that may escalate consumer costs. Previous comments from Trump have reflected concerns regarding Google’s market power, though he refrained from outright endorsing a breakup. Additionally, David Sacks, a venture capitalist, forecasts a high probability of legal actions against Google under Trump’s leadership, attributing this to the company’s substantial influence in various sectors.
The article discusses the potential ramifications of Gail Slater’s anticipated appointment as the Assistant Attorney General for Antitrust under the Trump administration. Her lack of perceived friendliness towards large tech entities, particularly Google, raises alarms for stakeholders in the sector. The backdrop of increasing governmental scrutiny against tech companies, highlighted by recent legal challenges against Google, sets a significant context for Slater’s role.
In summary, Jim Cramer raises alarms regarding the implications of Gail Slater’s potential appointment for tech giants like Google. With a noted lack of support for major tech firms, Slater’s role under the Trump administration may lead to intensified scrutiny and potential legal challenges for these companies. The landscape of technology may be significantly altered as the government continues its hardline stance against perceived monopolistic behaviors.
Original Source: www.benzinga.com
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