by WorldTribune Staff, July 14, 2017
Honchos from the worlds of technology, media and politics are hobnobbing at a ritzy resort in Sun Valley, Idaho this week at an annual invitation-only event hosted by the Allen & Co. investment bank.
What they are talking about is privileged, as most would consider appropriate for those benefiting from very-wealthy-mogul-privilege.
What is not secret are the prices their companies impose on ordinary mortals for purportedly organic food and must-have technology devices and services that are rising much faster than an average family’s take-home pay.
The complete who’s who list of invitees is unknown, but some of those seen schmoozing it up at the gathering hosted by investment bank Allen & Co. include Apple CEO Tim Cook, Amazon CEO Jeff Bezos, Jared Kushner, Ivanka Trump and Tom Brokaw.
The public and media have limited access to the resort during the invitation-only conference, which has taken place in Sun Valley for one week each July since 1983.
Bezos strolled into Sun Valley just a month after buying Whole Foods for almost $14 billion.
“Amazon has been wreaking havoc on virtually every industry it has gotten into, and even industries it is just starting to explore, like tech support,” Kurt Wagner wrote for Recode.
Meanwhile, as Amazon continues to gobble up the U.S. economy, hedge-fund manager Douglas Kass said government intervention could be on the horizon.
“I am shorting Amazon today because I have learned that there are currently early discussions and due diligence being considered in the legislative chambers in Washington, D.C. with regard to possible antitrust opposition to Amazon’s business practices, pricing strategy and expansion announcements already made (as well as being aimed at expansion strategies being considered in the future,” wrote Kass, head of Seabreeze Partners Management.
“My understanding is that certain Democrats in the Senate have instituted the very recent and preliminary investigation of Amazon’s possible adverse impact on competition,” Kass said.
“But, in the Trump administration we also have a foe against Jeff Bezos, who not only runs Amazon but happens to own an editorially unfriendly (to President Donald Trump) newspaper, The Washington Post.”