4 Predictions for 2023
December 30, 2022
Now that I’ve been an investor for over 5 years, it’s probably time to accept my fate and begin sharing annual predictions, inevitably demonstrating that my crystal ball is just as broken as everyone else’s.
This week’s big news is the GOP winning the US House of Representatives. Many in the GOP have expressed disdain for Big Tech, and so here’s my unsolicited thoughts on what might happen over the next 2 years.
They will certainly talk about it. I expect at least one investigation, likely tied to Hunter Biden, around social media bias. However, the chances of any laws being passed on this, with a divided government, are very low.
While the Democrats have also used Big Tech as a target this election cycle, they seem much more concerned with the marketplaces, like the app stores, vs. social media. The Democrats are trying to pass their Antitrust bill before the new Congress begins in January.
Unlikely. The Democrats Antitrust bill could change the app stores significantly but is running very short on time. As for the GOP House, Congressional investigations rarely produce “smoking gun” evidence, and so we’re unlikely to see any bills targeting social media gain enough momentum to win Democrat support. Big Tech wins again.
