What where reading (10/20)
“The Justice Department Files Long-Awaited Lawsuit Against Google” (New York Times). “The Justice Department accused Google of maintaining an illegal monopoly over search and search advertising, in the government’s most significant legal challenge to a tech company’s market power in a generation. In a lawsuit, filed in a federal court in Washington, D.C., on Tuesday, the agency accused Google, a unit of Alphabet, of using several exclusive business contracts and agreements to lock out competition.”
“Goldman Sachs To Pay $2.8 Billion, Admit Wrongdoing To Settle 1MDB Charges” (Wall Street Journal). “Goldman Sachs Group Inc. will pay the U.S. government about $2.8 billion and admit wrongdoing in a Malaysian bribery scandal, settling charges stemming from its work with a corrupt government investment fund. A Goldman subsidiary tied to the misconduct in Asia is expected to plead guilty this week, according to people familiar with the matter. The bank’s parent company will admit fault but won’t face prosecution under the agreement, the people said, avoiding a guilty plea that could have crippled its ability to do business.”
“Pelosi Says Dems And White House Are Moving Closer To A Stimulus Deal, Downplays Tuesday Deadline” (CNBC). “House Speaker Nancy Pelosi said Democrats and the White House have moved closer to a coronavirus stimulus deal ahead of her latest call with Treasury Secretary Steven Mnuchin on Tuesday afternoon. The California Democrat downplayed the importance of a deadline she had set to strike an agreement before the end of the day, signaling she would keep talks going. To have legislation ready before Election Day, lawmakers would have to come to a deal and write a bill before the end of the week, she added.”
“Securing Posterity” (Works In Progress). Interesting argumentative essay on risk, growth, and stagnation in the new online journal Works in Progress. “To the extent that we [society] are at a crossroads between continued growth with—potentially risky—innovation on the one hand, and stagnant decadence in the name of comfort and safety on the other hand, those concerned for posterity should respond with a unified voice: we choose growth.”
“Travis Kalanick Finds New Industry To Put Out Of Business” (Dealbreaker). “Having helped rid the world of the scourge of taxis (and a fair number of cab drivers along with them), Uber founder and former CEO Travis Kalanick has been on the lookout for other industries to disrupt into extinction. Luckily for him, the global pandemic has served up the restaurant business right on a plate. Or, rather, a plastic tray.”
