The U.S. Congress is targeting large technology companies for their business practices, while Bitcoin is looking at the possible consequences.

A 450-page report for the U.S. House of Representatives notes that Amazon, Apple, Facebook and Google all use anti-competitive tactics in their respective businesses. The research mentions monopolistic practices by the most important Bitcoin Revolution of the moment. And this could incite regulators to take action. The report is relevant, because this document in the hands of a Democratic-controlled House of Representatives could lead to new laws.

Democrats vs. Big Tech?

We well know that most employees of large technology companies tend to vote for the left. California is a predominantly Democratic state. And San Francisco in particular is a quintessential liberal city. The progressive vote overwhelmingly predominates over the conservative vote among Silicon Valley residents. In fact, Silicon Valley’s leaders are among the largest donors to the Democratic Party.

 

For many, Silicon Valley’s affinity with the Democratic Party may seem strange, because Silicon Valley’s business culture may lead one to believe that the Republican Party would be a better choice. But it’s not that simple. In fact, Silicon Valley (Big Tech in general) is a combination of different currents that does not find an exact representation in the traditional political spectrum, neither in the Democratic Party, nor in the Republican Party, nor in the Libertarian Party.

It could be said that we are before a group of „hippies“, pro-immigration, pro-capitalism, pro-business, and pro-science (millennials in their majority), who believe in competitiveness and innovation, but with the intervention and collaboration of the Government. They believe in globalization, free trade and open borders, but they are also pro-Obamacare. They believe in meritocracy, in individual creativity, but also in the common good. In general terms, this group believes that the Government should invest in its citizens (education, health, social security). But, at the same time, it must support free enterprise.

The problem with this political stance is that it still has no label. But it has found a „provisional“ home in sectors of the center-left of the Democratic Party. They are too liberal for the Republican Party and too conservative for the radical left. They cannot stand the intolerance and anti-science of the Right. But they are too pro-capitalist and individualistic to accept the radical left. Joe Biden for being a moderate is an acceptable middle ground. That’s why he finds support in Silicon Valley. Donald Trump and Bernie Sanders, on the other hand, are too radical for this group.

Of course, this group is contradictory to the three big camps. Libertarians label them pro-government progressives. Conservatives call them liberals. And the left presents them as unbridled capitalists. In other words, lacking a defined label or platform, the fate of this group is one of misunderstanding and political dislocation. Attacked by liberals, Republicans and Democrats for not having a place in the traditional political spectrum. For the moment, lacking a better option, this group is leaning toward the Democratic center.

Now, Silicon Valley will vote for the Democrats, but will the Democrats be good for Silicon Valley? Trump hasn’t been particularly good for Silicon Valley. Whenever possible, Trump has presented Big Tech as the villains of the film. Friction between Amazon and Trump has generated several headlines. But it’s all been kept to the rhetoric. The Republicans have not taken any forceful action against Big Tech. In general, Republicans avoid corporate regulation.

Here’s the great irony of it all. Because Democrats do look at regulation in a positive light. If the Democrats win Congress, we’re likely to see regulation for Big Tech. Is this good or bad? Well, it all depends on the type of regulation. There’s inadequate regulation and there’s proper regulation. But no one wants regulation designed by radicals.

The radical right defends the lack of regulation, and that has led to chaos. That is, the Big Tech do whatever they want. And that’s not good either. But, on the other hand, the radical left in its resentment can