Warren Says Facebook Funds ‘Dark Money,’ Undermines Democracy
Warren Says Facebook Funds ‘Dark Money,’ Undermines Democracy
(Bloomberg) -- Senator Elizabeth Warren accused Facebook Inc., along with other social media giants, of using their wealth to exert influence on Washington in a way that undermines the democratic system.
“The loudest voice in this hall is Facebook and the other giant corporations, they hire the lobbyists, they make the big campaign contributions. And even more importantly, they fund dark money -- the part that, you never even see their fingerprints on it,” Warren, a Massachusetts Democrat, said in an interview on Bloomberg Television with David Westin on Tuesday. “They’re the ones that undermine the basic premise of democracy.”
Warren, a progressive who ran for the Democratic nomination for president last year, also said Facebook is a monopolistic organization. “If you want to access somebody’s Facebook page, you’ve all got to be in Facebook. It gives Facebook the monopoly, that makes them grow more.”
Warren invoked the trust-busting record of President Theodore Roosevelt in her argument that monopoly groups must be isolated “from pressuring Washington” for protection. “When we’ve got lots of competitors in this market, then no one dominates in that same way. So I’ve got to tell you, that’s where I start.”
Warren spoke after a Senate hearing with a Facebook whistle-blower, Frances Haugen, that showcased concerns about mental-health risks posed by the company’s platforms.
©2021 Bloomberg L.P.