CNBC’s outspoken host Jim Cramer has voiced significant concerns regarding the appointment of Gail Slater as the Assistant Attorney General for Antitrust. In a recent post on X (formerly Twitter), Cramer highlighted Slater’s reputation as a formidable opponent of major tech corporations, a stance he believes bodes ill for companies like Alphabet Inc.’s Google.
Cramer’s apprehension stems from Slater’s well-documented track record of challenging dominant tech players. This appointment, under the incoming administration, underscores a clear intention to address competition issues within the tech sector – a policy priority reiterated by President-elect Trump. Slater is expected to vigorously pursue the antitrust division’s ongoing efforts against big tech, mirroring Trump’s previously stated commitment.
“She’s not known as a friend of big tech,” Cramer stated bluntly, adding, “Not good for Google for certain.” This concise assessment encapsulates the widespread anxiety within the tech industry following Slater’s appointment. The focus on curbing the power of tech giants isn’t new; President-elect Trump has consistently expressed concerns about the dominance of companies like Google, although stopping short of explicitly endorsing a full-scale breakup.
Slater’s background lends further weight to Cramer’s concerns. Her resume includes a stint on the White House’s National Economic Council in 2018, experience with Fox Corp and Roku, and a notable history at the FTC, where she played a key role in blocking mergers—a prime example being the thwarted acquisition of Wild Oats by Whole Foods.
The timing of this appointment is particularly significant. Last month, the U.S. Department of Justice initiated legal proceedings against Google, seeking a court order to force the divestiture of its Chrome browser, following a ruling that found Google guilty of unlawfully monopolizing the search market. This action, combined with Slater’s appointment, signals a sustained, aggressive campaign against monopolistic practices in the tech industry.
The potential implications extend beyond Google. President-elect Trump’s administration has adopted a firm stance against tech giants, suggesting policies that could profoundly impact companies like Apple. Trump’s proposed tariffs, potentially reaching 60% on goods manufactured in China, could dramatically increase the production costs for companies such as Apple, which heavily relies on Chinese manufacturing, ultimately affecting consumer prices.
The prediction by venture capitalist David Sacks of a high probability of legal action or even a breakup of Google under the Trump administration underscores the gravity of the situation. Sacks points to Google’s overwhelming dominance in search, advertising, and YouTube as major factors fueling these concerns. The appointment of Gail Slater only serves to amplify these already existing anxieties within the industry and beyond. The coming months will undoubtedly be crucial in shaping the future landscape of the tech industry under this new administration’s aggressive antitrust approach.
