Treasury's Mnuchin says Amazon 'destroyed' U.S. retail sector

Reuters | July 25, 2019

U.S. Treasury Secretary Steven Mnuchin said on Wednesday that online giant Amazon.com Inc has destroyed the retail industry across the United States. Mnuchin said he looked forward to hearing the results of a Justice Department probe, announced on Tuesday, into whether big U.S. technology firms engage in anticompetitive practices, the strongest sign yet that the Trump administration is stepping up its scrutiny of Big Tech. “If you look at Amazon, although they’re certain benefits to it, they’ve destroyed the retail industry across the United States,” Mnuchin told CNBC. “I don’t have an opinion other than I think it’s absolutely right the attorney general is looking into these issues and I look forward to listening to his recommendations to the president.”

Spotlight

How Federal Agencies leverage data for decision making is changing. Historical transaction reporting and static batch data analyses are giving way to predictive data science, streaming analytics, machine learning (ML), and artificial intelligence (AI). Agencies are embracing these new paradigms for more informed, real-time decisions to impact business, operations, and agency performance.

Spotlight

How Federal Agencies leverage data for decision making is changing. Historical transaction reporting and static batch data analyses are giving way to predictive data science, streaming analytics, machine learning (ML), and artificial intelligence (AI). Agencies are embracing these new paradigms for more informed, real-time decisions to impact business, operations, and agency performance.

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