On May 5, 2014 Bloomberg Businessweek Paul M. Barrett and Brad Stone wrote “Tech Hubris” about a Silicon Valley antitrust case handled by US District Judge Lucy Koh. Lawyers of 64,000 technical employees accused Adobe, Apple, Google, Intel, Intuit, Lucasfilm and Pixar of conspiring to keep wages down and keep them from moving from one company to another. Google’s Eric Schmidt said “I don’t want to create a paper trail over which we can be sued later.” The companies agreed to pay 324 million dollars. Elevation Partners’ Roger McNamee said “This is one of hundreds of examples in which our economy has been corrupted by the intense concentration of power and wealth.” It seems odd that CEOs who glorify free market competition would want to keep their workers benefitting from it the same way they do.
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