Hot take loosely held: By verbally bashing Big Tech yet failing to pass any meaningful privacy or antitrust reform when they had the chance (2021-2022), Dems managed to alienate tech tycoons while leaving them stronger than ever, setting the stage for an unholy alliance between tech and Trump's GOP.
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These are ready-made villains.
It seems like it was a variety of factors overall, but at the end of the day, Trump can be bought and that's all they want.
It had GOP backers in the Senate, too, and made it out of committee. But after a Big Tech lobbying blitz, Dem leadership let it die without a vote.
Empty talk against big money is all either party has to offer.
https://www.reuters.com/world/us/two-billionaire-harris-donors-hope-she-will-fire-ftc-chair-lina-khan-2024-07-26/
Between antitrust, pro union stances and citizen focused policy its clear that billionaire America wanted it Joever.
Their mouthpieces amplified the message and are now obeying in advance.
It can be argued that being lukewarm with the crypto community aided in loses the democrats the presidential election.
That is the part commentators keep missing (and the fact that Republican AGs joined these actions!)