To warm up, let’s start with a real scandal. Bloomberg gives us one of the possible explanations for the staggering slowness of the American Congress to regulate the Gafam: at least 18 of the 100 senators, 77 of the 435 members of the House of Representatives own several million dollars in shares of the colossi of Big Tech. Legislators have, in fact, no interest in passing laws that would reduce the profits of Apple, Facebook, Google and others, because their stock market portfolio would suffer.
This massive, but legal, conflict of interest benefits both Republicans and Democrats. Nancy Pelosi, Democratic Speaker of the House, thus holds, if we count the investments of her close family, for approximately 100 million dollars of shares, including 28 million Apple shares, in the name of her extremely wealthy husband. Mike McCaul, representing Texas, owns more than 8 million in Silicon Valley Big Four securities. These are low estimates, because elected officials are only required to declare ranges of assets to the Congress administration, which buries this data in paper files, sometimes handwritten, complicated to handle and analyze.
Since 2012, a law prohibits senators and representatives from using their inside information to trade, but insider trading is generally difficult to prove. In these times of populism and suspicion towards the caste of politicians, many elected officials, even if they hold shares, are beginning to accept the idea of a law prohibiting them from speculating while in office. But here too, we are waiting to see…
Protocol tells us the comical story of Jack Sweeney, a 19-year-old student whose Twitter account constantly leaks the location of Elon Musk’s private jet thanks to information freely available online. To the point of ruining the life of the very cool titan of Tesla and Space X, who ended up contacting Sweeney to offer him 5,000