On Wednesday, Jim Cramer, host of CNBC's Mad Money, shared his reservations regarding the possible appointment of Gail Slater as the Assistant Attorney General for Antitrust. He pointed out that Slater is not seen as an ally of big tech companies, specifically mentioning Google, and highlighted concerns about her stance not being favorable for them. This appointment is crucial as it will involve addressing competition issues in the tech sector, which has become a key focus under President-elect Donald Trump's administration.
Slater's career background includes serving in the White House's National Economic Council in 2018 and having worked with companies like Fox Corp and Roku. Notably, her tenure at the FTC involved efforts to block mergers such as Whole Foods' acquisition of Wild Oats. The Department of Justice's recent move to compel Google to divest its Chrome browser due to monopolization in the search market underscores the growing scrutiny on tech giants, with potential implications for companies like Apple and Google. Trump's administration has shown a tough stance on these tech behemoths, with proposed policies including tariffs on goods made in China which could impact Apple's production costs and ultimately consumers.
President-elect Trump has been critical of Google's market dominance and alleged bias in search results, though he has not explicitly endorsed breaking up the company. Venture capitalist David Sacks also predicted the possibility of legal action or a breakup of Google under the new administration, citing its stronghold in search, advertising, and YouTube. The landscape of antitrust regulations in the tech industry is evolving, with key appointments like Slater's potentially signaling a more rigorous approach to competition issues moving forward.