"The Second Gilded Age: Robert Reich's Take on Hollywood Strikes and Tech 'Leviathans'"

The ongoing strikes by SAG-AFTRA and the Writers Guild of America in Hollywood reflect broader economic issues in the U.S., according to Robert Reich, former U.S. Secretary of Labor. Reich highlights the rise of monopolies and the decline of unions as factors contributing to economic disparity. He points out that giant technology firms like Apple, Amazon, Alphabet, Microsoft, and Meta hold significant power in the entertainment industry, and their dominance needs to be addressed. Reich emphasizes the need for changes in laws and regulations to prevent further monopolization, increase union power, and create a more balanced system that benefits content providers. He warns that the current economic landscape resembles the Second Gilded Age and calls for action to avoid the negative consequences of concentrated wealth.