FBN Guest: We’re Reaching a Point Where We Will Have to Consider Breaking Up Amazon
EXCERPT:
VARNEY: "Do you think we should rein them in or -- and/or break then up?"
KHAN: "I think we’re reaching an inflection point where we’ll have to grapple with that question as a society. Amazon controls 43 percent of all on-line sales. It's prime members or I think around 80 million at this point, 60 percent of all on-line stopping searches begin on Amazon and I think in many ways—"
VARNEY: "Lina, should they be punished for a brilliant business model which is wildly successful and which brings down prices to consumers?"
KHAN: "I do not deny that it’s a brilliant feat of innovation in many ways. Amazon pioneered Internet retail in a lot of ways. But I thin it's also worth remembering that in certain regarts it’s built its dominance through certain kinds of predatory conduct."