This podcast features Matt Stoller, an expert on Amazon's hidden taxes, who discusses the F-35 fighter jet's low flight rate and the exorbitant costs of operating military aircraft. It also explores the decline of Fox News and the changing media landscape, and delves into the hidden costs of Amazon's 'free shipping' scheme.
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Quick takeaways
The F-35 fighter jets can only fly 55% of the time due to maintenance issues, highlighting the need to reevaluate expensive weapon projects and consider cost-effective alternatives.
Fox News relies more on former President Trump than he relies on them, as a significant majority of likely Republican voters turn to alternative news sources, indicating a shift in news consumption patterns.
Deep dives
The F-35 Fighter Jets Operational Issues and High Costs
A new report reveals that the F-35 fighter jets, despite being increasingly relied upon by the US and its allies, can only fly approximately 55% of the time due to maintenance issues. This falls far below the Pentagon's goal of 85% to 90% mission capability. The F-35 project is the world's most expensive defense procurement, with plans to purchase 2,000 more jets costing $1.7 trillion. Maintenance costs alone add up to $1.3 trillion. The high costs and operational challenges of the F-35 highlight the need to reevaluate expensive weapon projects and consider more cost-effective options.
Declining Influence of Fox News and the Rise of Alternative Media Sources
A recent breakdown of polling data reveals a decline in the influence of Fox News among Republican voters. While Fox News still holds the plurality of viewers with 26%, a significant majority of 74% of likely Republican voters report turning to alternative news sources. Social media and broadcast networks each capture 12% and 11% respectively. This shift in news consumption patterns demonstrates that Fox News relies more on former President Trump than he relies on them. The fracturing media landscape, with emerging alternatives, creates space for true competition and a wider range of news sources.
Antitrust Lawsuit Against Amazon Exposes Monopolistic Practices
The Federal Trade Commission, along with 17 states, has filed an antitrust lawsuit against Amazon, accusing the company of monopolization and unfair methods of competition. The suit reveals Amazon's business model, where third-party sellers, who make up 60% of Amazon's products, act as Amazon's real customers. These sellers must pay high fees, including advertising costs, which are then passed on to consumers through higher prices. Amazon's market dominance stifles competition, preventing third-party sellers from utilizing alternative platforms and reducing consumer options. The lawsuit sheds light on Amazon's hidden tax and exploitative practices in its quest for market control.
This week we look into the F-35 "trillion dollar" plane can only fly 55% of the time, a CNN Data Chief says Fox News needs Trump more than Trump needs Fox amid the drama of Trump not attending the debates, and Matt Stoller looks at the hidden taxes within Amazon's "Free Shipping" scheme at the heart of Amazon Prime.