New Orleans Just because we’re chasing them, doesn’t mean that payday lenders are on the run, but recently we got a break that could end up as a fatal blow and perhaps stiffen the backbone and open the eyes of those unwilling to confront the predatory practices that define the business model of payday lenders. Google or Alphabet or whatever they are calling themselves are one the largest tech companies of the world, and they have now announced that forthwith they would no longer accept advertising from payday lenders. Hooray!
A number of consumer advocates weighted in with congratulations, and, surely, this was a win that undoubtedly came after extensive behind-the-scenes meetings, but no matter how the result was achieved, it’s a significant victory. In the highly competitive online advertising world, hopefully, it will be “monkey see, monkey do,” and followed by Facebook, Twitter, and the hundreds of other sites and applications that worship that almighty ad dollar. The payday lenders association, or whatever that gang of hyenas call themselves at the predators’ ball, cried “foul,” and claimed they were doing a public service in stealing from the poor, but they were left with no recourse. Google is a private company after all, and not some politician they can just ply with a campaign donation or sic their lobbyist on.
All of which calls into play whether or not tech companies might be good targets for more and more campaigns, and that’s worth some thought. Even while we praise Google, we shouldn’t make the mistake of thinking that they will be pushovers if the history and ideology of tech companies is any guide.
Apple certainly waged a huge battle under Steve Jobs and his successors to prevent unionization of its contract janitors, and to this day, unless something has changed recently, solved the problem by simply taking the work in-house as direct employees rather than deal with the union. Many of these tech companies and their execs are Ayn Rand fanboys and hard leaning libertarians. The role of Microsoft’s Gates and Facebook’s Zuckerberg in trying to privatize and charter up public school systems is now legendary, where often their main partners are the Walmart Foundation and its conservative crew. Michael Bloomberg and Charles Koch coauthored an op-ed recently where they wanted to get their two cents in on the amount of free speech on college campuses where they are afraid that administrators and professors are bending over too far to kowtow to minorities, women and others that might built the power to object to some of the baked in dogma opposing their interests. Austin, Texas voters just had to administer a butt whipping to the ride-sharing Batman and Robin, Uber and Lyft, who wanted to allow their drivers to not be fingerprinted like other drivers in that city. Facebook is taking heat as well for slanting its newsfeed and creating an echo chamber. Amazon seems the most Teflon, since it seems to still be consumer crack.
The good thing is that at their current size, none of these tech behemoths can just hunker down and hide in Silicon Valley anymore. To the degree that public perception and buying power still is a major part of what makes them winners or losers, we may have some collective power to punish the baddies, like payday lenders, that we need to exercise even more by putting tech companies on our “must target” list.