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From Jeff Bezos to Elon Musk, America's oligarchs are using media control to shape politics, grow profits, and destroy the prospect of a better future for all.
I cancelled my Washington Post subscription Friday evening. Jeff Bezos, Mister “Democracy Dies In Darkness” (the Post’s slogan on their masthead), by blocking his editorial staff from endorsing Harris chose darkness over his nation’s future, and I can’t support that.
The big mistake John D. Rockefeller made back in the day—that Jeff Bezos and Elon Musk appear committed to not repeating—was not buying a media outlet like a newspaper. Had John D. had that sort of a vehicle to mold public opinion, American history may be very different.
By 1880, Rockefeller’s Ohio-based company controlled over 90 percent of the nation’s oil, owned 4000 miles of pipelines, and employed over 100,000 people. As Rockefeller’s oil empire got larger and larger, eating alive hundreds of smaller operations, ruthlessly driving up prices, destroying his competitors, and throwing workers out of a job, public outrage grew.
At some point, America is going to have to confront its oligarch problem.
In 1887, Ohio sued him, arguing that he was operating in ways that were detrimental to the state and its citizens and businesses; in 1892 the Ohio Supreme Court ordered his company dissolved. As I lay out in detail in Unequal Protection: How Corporations Became “People,” this led Rockefeller to move Standard Oil to New Jersey after that state changed its corporation laws to allow for his monopolistic behavior.
Which brought in the federal government; in 1890, Ohio Senator John Sherman introduced and saw passed into law the Sherman Anti-Trust Act which provided not just fines but jail sentences against people like Rockefeller who were committed to destroying competition and owning entire markets. The law was flawed with a few loopholes and ambiguities, so it was amended in 1914 with the Clayton Anti-Trust Act.
Nonetheless, in 1906 progressive Republican Teddy Roosevelt’s administration filed an antitrust action against Rockefeller that went to the Supreme Court in 1911 during the administration of progressive Republican President William Howard Taft. The behemoth was broken up into 34 separate companies, an action that, like the breakup of AT&T by Jimmy Carter and Ronald Reagan, led to an explosion of competition in the marketplace and a dramatic increase in shareholder value.
But back to Jeff Bezos and his 2013 purchase of The Washington Post.
It was reporters and editors for the hundreds of independent newspapers during the First Gilded Age (1880-1900) era that led the crusades against Rockefeller and his fellow monopolists. Investigative journalism was all the rage then, and it fed public demand for a return to competition and the de-throning of that age’s oligarchs.
The vast majority of workers were struggling and they worked for a very small 10 percent of the population who controlled most of the nation’s wealth (a situation we’re at again).
The result was constant strife, strikes, and the murder of labor leaders; entire towns were in arms (and sometimes ablaze) with labor conflict. The “problem of labor”was the number one issue of the day. As President Grover Cleveland — the only Democrat elected during that period — proclaimed in his 1887 State of the Union address:
“As we view the achievements of aggregated capital, we discover the existence of trusts, combinations, and monopolies, while the citizen is struggling far in the rear or is trampled to death beneath an iron heel. Corporations, which should be the carefully restrained creatures of the law and the servants of the people, are fast becoming the people’s masters.”
There was a broad consensus across American society that those “Robber Barons” were feathering their own nests at the expense of the American public, hurting both working class people and small businesses. The Supreme Court endorsed breaking up Standard Oil in 1911, and even broke up the Associated Press in 1944.
The law was so rigorously enforced — so the game of business could be played by all comers, not just the “big boys” — that in the 1960s the Supreme Court barred the merger of the Kinney and Buster Brown shoe companies because the new combined company would control a mere 5 percent of the shoe market.
Back in the ’60s every mall and downtown in America was filled with small, locally-owned businesses; there might be a Sears to anchor the shopping center or a retail part of town, but most shops, restaurants, and hotels were family-owned.
But then Reagan, in 1983, ordered the DOJ, SEC, and FTC to stop enforcing the Sherman Act, which is why today Nike, for example, controls about a fifth of the entire nation’s shoe market. It’s the same across industry after industry, from retail to grocery stores to railroads to computer software to social media to chip manufacturing to airlines to hotels…and on and on. In virtually every industry, a handful of massive companies control 80 percent or more of the market.
The Biden administration is the first to seriously try enforcement of the nation’s anti-trust laws since Carter broke up AT&T, going after Google and blocking mergers in multiple industries. It’s led a bunch of American billionaires to demand that the Federal Trade Commission’s head, Lina Kahn, be fired.
Kahn and her FTC went after Bezos last year, suing Amazon for running a monopoly that price-gouges customers and blocks out competition. The trial is scheduled for 2026 if Kahn keeps her job; a Trump administration would fire her immediately, and pressure from major corporate donors and billionaires is building on Harris to do the same.
Bezos also must remember well when he got on the wrong side of then-President Trump because of the Post’s coverage of the orange oligarch’s lies and crimes; Trump, in a fit of pique, awarded a $10 billion Pentagon contract for cloud computing to Microsoft, shocking analysts across the industry.
Bezos is also working for his Blue Origin spaceship company to get more billions in NASA and Pentagon contracts. He and his companies also own billions in Google and AirBNB stock as well as owning outright almost a hundred other companies.
Might be a good time to own one of the two most influential newspapers in America, eh?
Similarly, billionaire oligarch Elon Musk, in addition to apparently taking orders from Russian President Vladimir Putin, is fighting numerous government efforts to regulate his companies (which exist in large part because Obama bailed out Tesla in 2010 with $465 million, and NASA is now pouring hundreds of millions into SpaceX):
— Tesla is fighting the National Labor Relations Board (NLRB) over union-related issues, with Musk taking a lawsuit to the Supreme Court alleging government protections of unions are unconstitutional.
— SpaceX is battling the NLRB over employee firings.
— The SEC is investigating Musk’s acquisition of Twitter (now X) and his “funding secured” tweets about taking Tesla private.
— The FTC is investigating X’s compliance with a $150 million privacy settlement.
— The Federal Communications Commission recently denied SpaceX’s Starlink a $886 million rural broadband award.
— The Equal Employment Opportunity Commission is suing Tesla over alleged racial harassment.
— The FAA is in conflict with SpaceX over launch licensing and environmental reviews.
— The EPA has fined SpaceX for water-related violations.
— The National Highway Traffic Safety Administration has opened multiple investigations into Tesla’s vehicle safety and Autopilot system.
— SpaceX faces scrutiny over its environmental impact at its Texas launch site.
To avoid the Rockefeller mistake, Musk — with the apparent help of two Russian oligarchs and the leader of Saudi Arabia — purchased Twitter, the online digital equivalent of our nation’s largest newspaper.
Now that we’re in America’s Second Gilded Age — with today’s billionaires vastly richer than Rockefeller’s wildest dreams — we confront a similar crossroads to that of previous generations.
And he’s now using it to try to get Trump and Republicans into office, presumably so they can gut the FTC, FCC, SEC, NLRB, and any other regulator that might take him on to protect workers, the public, and the national interest.
We took on the superrich with success during the First Gilded Age, and our enforcement of antitrust laws lasted all the way to 1983, when Reagan blocked them, leading to the “merger mania” of the 1980s and bringing us today’s oligarchic business empires across multiple industries.
Now that we’re in America’s Second Gilded Age — with today’s billionaires vastly richer than Rockefeller’s wildest dreams — we confront a similar crossroads to that of previous generations.
Is it okay, for example, for billionaires to own media properties they can use to manipulate politics and government agencies to amplify their other business interests? Or that five corrupt Republicans on the Supreme Court have ruled that our morbidly rich plutocrats can own judges and politicians? Most Americans would probably say “No” to both.
At some point, America is going to have to confront its oligarch problem. And the sooner the better, if we don’t want darkness to entirely subsume our democracy.
Decisions last week by the Los Angeles Times and the Washington Post are a sign that an already-damaged democracy is entering a new stage of decay.
First the Los Angeles Times, then the Washington Post. Two of the country’s largest newspapers, including the one based in the nation’s capital, have now declared that they won’t endorse either major-party candidate for president. That’s irrefutable evidence that, in today’s United States of America, the self-interest of billionaires will always come before the needs of democracy. The financialization of journalism, which is so vital to a functioning democracy, has crushed the concept of a “free press.”
This is what oligarchy looks like.
This is why Democratic rhetoric about “saving democracy” has been so unpersuasive for undecided voters. Anti-Trump voters may know that democracy is important, but working people know something else: that what the billionaires want, they get. It’s hard to ask people to save something they feel they’ve already lost.
We’ve reached the point where a caudillo—a strongman figure—can openly threaten supposedly independent institutions and suppress opinions he doesn’t like.
Would a second Trump term do profound harm to democratic principles? Yes. Would this country’s vital institutions be cowed and manipulated with threats, hate speech, revenge, and the hideous lineaments of pseudo-Christian fascism? Yes. It’s a frightening prospect.
That may not be a big deal to this country’s elites, but they’d prefer the stability of a Kamala Harris presidency to the unpredictability of another Trump term. It’s better for their business interests. That’s why she’s raising so much more money than Trump.
But the billionaire owners of the Los Angeles Times and the Washington Post don’t dare act against Trump, who has been open about his pursuit of vengeance and equally clear that he’ll reward his friends with government contracts.
These are the signs that an already-damaged democracy is entering a new stage of decay. We’ve reached the point where a caudillo—a strongman figure—can openly threaten supposedly independent institutions and suppress opinions he doesn’t like.
These newspapers’ cowardly actions prove, in one way, that Trump has already won. He has stripped the veneer off our democracy and revealed the cowardice and greed beneath it. It is the latest in the series of political innovations Trump has brought to American politics: rule by fear.
Whoever wins the election, we know now that naked intimidation works. The owners of American media are financially dependent on government contracts, tax breaks, and the good graces of the executive branch. Their reporters depend on government officials as sources. That’s why Trump’s threats are working.
These newspapers’ cowardly actions prove, in one way, that Trump has already won. He has stripped the veneer off our democracy and revealed the cowardice and greed beneath it.
Democrats could take Trump’s cynical lesson to heart, as Lyndon Johnson might if he were still around. But it would be better to call out a system that allows billionaires to censor the news because a bully is pressuring the billionaires.
What they shouldn’t do is talk about “saving” a democracy so few voters believe in. It would be wiser to talk about “restoring” it—although it never functioned perfectly, especially for Black voters and the poor.
Polling bears that out. A July 2024 Pew Research survey found that an overwhelming 72 percent of Americans don’t believe the United States is a good example of democracy. Democrats were slightly more likely to believe in American democracy than Republicans, but they’re hardly starry-eyed. Less than one-fourth of Democrats think we have an exemplary democracy.
The best way to talk about democracy is as an unrealized ideal. That would mean renouncing the endorsement of anti-democratic figures like Dick Cheney, who ascended to the vice presidency in an undemocratic power grab by the Supreme Court; Gen. John Kelly, who defended pro-slavery Civil War insurgents and committed ethical lapses; James Clapper, who gave false testimony to Congress; and former Attorney General Alberto Gonzales, who approved illegal torture programs under President George W. Bush.
I understand that they’re trying to reach Republican voters who are uncomfortable with Trump’s totalitarian tendencies, but how many voters like that are there? This approach may alienate more people than it gains.
Trump may regain the presidency, or he may not. But either way, he has changed politics forever, reshaping it in his own image.
In any case, this campaign is almost over—“all over but the shouting,” as the old saying goes. Trump may regain the presidency, or he may not. But either way, he has changed politics forever, reshaping it in his own image. There will be candidates who don’t hesitate to use what he’s taught them this year.
Americans who believe in the ideal of democracy will have to fight even harder for it—now, and for generations to come.
What happened at the Post and the LA Times was a stunning betrayal of journalism’s moral values, but in a strange way the papers did perform a public service: showing American voters what life under a dictator would feel like.
Do not obey in advance. Most of the power of authoritarianism is freely given. In times like these, individuals think ahead about what a repressive government will want, and then offer themselves without being asked. A citizen who adapts in this way is teaching power what it can do.—Yale historian Timothy Snyder, On Tyranny
Once upon a time, in a world that feels so very far away, stories of courage by the reporters, editors and publisher at The Washington Postinspired a generation of young people to believe that journalism was a way—and maybe the best way—to change the world for good.
The pivotal scene in 1976′s All The President’s Men—which burnished both the facts and some legend about the Post, star reporters Bob Woodward and Carl Bernstein, and their role in the Watergate scandal that took down Richard Nixon—takes place in the dead of night on the pitch-black lawn of top editor Ben Bradlee. The two journalists, fearful they are being bugged, relay their source Deep Throat’s warning that “people’s lives are in danger, maybe even ours.”
The cowardly Bezos can spend billions to erect a manmade projectile that sends him into space, but he’ll never have the cojones of a Katharine Graham.
In a famous monologue, Bradlee (played by Jason Robards, who won an Oscar) tells Woodward and Bernstein to keep reporting the story, that “nothing’s riding on this except the First Amendment to the Constitution, freedom of the press, and maybe the future of the country,” adding his trademarked newsroom cynicism, “not that any of that matters.”
Yet perhaps an even more revealing scene occurs earlier, when Nixon’s campaign manager John Mitchell—called by the reporters for his comment on a damning article—instead issues a warning to the Post’s trailblazing publisher, saying “Katie Graham’s going to get her [crude word for breast] caught in a big fat wringer if that’s published.” Katharine Graham’s Post had a lot at stake—federal regulators could strip her company’s lucrative TV licenses—yet both the story and the quote, minus the T-word, were published and the Post won a Pulitzer Prize for its relentless pursuit of Watergate.
These are the stories that journalists tell ourselves in order to live—so much so that Amazon founder Jeff Bezos felt compelled when he bought the Post from Graham’s heirs in 2013 to invoke them to reassure a wary newsroom that he would never diminish the Post’s reputation for courageous journalism. The $200 billion man wrote in a letter to staffers: “While I hope no one ever threatens to put one of my body parts through a wringer, if they do, thanks to Mrs. Graham’s example, I’ll be ready.”
Bezos was lying.
On Friday, the world’s third-richest person, his scandal-scarred British publisher Will Lewis, and the iconic newspaper they control stunned both the American body politic and the media world by spiking their editorial board’s endorsement of Kamala Harris for president. The move came just days ahead of an election defined by her rival Donald Trump’s increasing threats to impose a tyrannical form of government with mass deportation camps and arrests for his growing enemies list, including journalists.
Lewis’ utterly incoherent defense of the decision—ending a tradition of presidential endorsements the Post launched in 1976, the same year that All The President’s Men was released—did nothing to quell the rampant, informed speculation that his boss Bezos has killed the already-drafted editorial out of fear a revenge-minded Trump 47 could terminate the billionaire’s extensive business dealings with the federal government. It seemed all too fitting that Trump was in Austin meeting executives of Bezos’ space venture, Blue Horizon, at the same time as the endorsement kibosh.
If this looks like the latest saga of open corruption in a nation that’s become a billionaire kleptocracy, it is—but this moment is also so much more than that. America is witnessing the raw power of dictatorship some nine days before voters even decide if that will truly be our future path. The cowardly Bezos can spend billions to erect a manmade projectile that sends him into space, but he’ll never have the cojones of a Katharine Graham. He is obeying fascism in advance, and he is not alone.
Three thousand miles west, Bezos’ fellow billionaire Patrick Soon-Shiong—owner of the Los Angeles Times since 2018—pulled essentially the same maneuver in killing his editorial board’s endorsement of Harris that had been in the works for weeks, and which followed months of editorials warning of the authoritarian dangers of a Trump presidency. Observers noted that Soon-Shiong is a longtime close friend to—you guessed it—another billionaire, Elon Musk, who is the world’s richest man and has thrown all his time and considerable dollars into getting Trump elected. (Soon-Shiong’s daughter insists the reason was both candidates’ failure to address the carnage in Gaza.)
While the moral center of the journalistic universe seemed to be collapsing, Trump told a rally in Tempe, Arizona that the media is “the enemy of the people, they are. I’ve been asked not to say it, I don’t want to say it. They’re the enemy of the people.” The Republican’s replay of this ominous language echoing dictators of the 1930s was quickly followed by a new threat to create licensing woes for CBS because Trump didn’t like its editing of a “60 Minutes” interview with Harris, and a lengthy post on Truth Social threatening to prosecute his enemies.
The message here is clear. The cowardice of the news organizations controlled by Bezos and Soon-Shiong has already taught Trump—in the words of Yale’s Snyder, a leading U.S. expert on fascism—what power can do, and if he prevails in next week’s election, he plans to bring that hammer down in full force. What happened at the Post and the LA Times was a stunning betrayal of journalism’s moral values, but in a strange way the papers did perform a public service: showing American voters what life under a dictator would feel like.
The endorsement cancellations came with a heaping side order of nuance. One irony, as some observers pointed out, is that the expected endorsements of Harris from both editorial boards would have been a tiny blip on the political radar, compared to the earthquake of the owners’ interference. What’s more, there’s an intellectual argument—I once made it myself in a long-vanished blog post—that newspapers shouldn’t endorse candidates. If the Post or Times had announced such a decision a year ago—and not under the heat of the election’s final days, under pressure from self-interested billionaires—there’d be little controversy.
But these reversals, coming now and coming from the poisoned heart of American oligarchy, have instead confirmed the worst fears among an anxiety-wracked electorate that the core institutions that once saved U.S. democracy under the life-or-death pressures of Watergate—the Supreme Court, Congress, and an aggressive media—have morally imploded into empty shells.
Even worse, readers’ sudden sense of betrayal seems to have greatly accelerated the already steep decline of public trust in American journalism, with reports that both the Post and the LA Times have been bombarded with thousands of canceled subscriptions. Some have switched to news organizations like The Philadelphia Inquirer, which published a long and compelling endorsement of Harris at almost the exact moment the Post’s capitulation went public. But many readers will be lost for good. This will create even more layoffs, which will lead to even less accountability journalism in a crumbling democracy, which will create even more cynicism—the tainted gasoline that fuels autocracy.
It’s also critical to note that this fish stinks mainly from the head. The vast majority of working journalists—most of whom weren’t born yet when Woodward and Bernstein stood on Bradlee’s lawn—are just as outraged as their readers frantically hitting the “cancel my subscription” button. Scores of reporters, columnists, and others in the two newsrooms have bravely condemned their bosses’ decisions in online posts and in open letters. The editorial-page editor of the LA Times, Mariel Garza, resigned in protest—despite the horrendous journalism job market—and at least two other colleagues have joined her.
“I am resigning because I want to make it clear that I am not okay with us being silent,” Garza told Columbia Journalism Review. “In dangerous times, honest people need to stand up. This is how I’m standing up.” With the election little more than a week away, I hope that the brave actions of Garza and the words of those who are speaking out—a growing list that includes Woodward and Bernstein themselves—will be the ultimate takeaway, and not the craven corruption of a little man like Bezos.
This early sneak preview of what dictatorship actually looks like is also providing the most important lesson we could have right now, which is how to not obey in advance but stand up against strongmen and bullies. How all of us respond over the coming days and weeks will decide the fate of the First Amendment to the Constitution, freedom of the press, and maybe the future of the country.
And if any of that matters.