'The Daily Conehead': John Kennedy Gives Hilarious Hypothetical In Discussion Of Social Media Bill

it doesn't dictate prices it simply allows them to negotiate thank you Senator Kennedy thank you Mr chairman um this bill is not about whether or not you like social media this bill is not about whether or not you like what is happening in American news media today this bill is about creative content that's all it's about and whether we respect creative content and value it or whether we do not many of our social media companies a lot of which are fine American companies by the way and we should be proud of them or using the creative content produced by American News organizations newspapers TV radio without compensating those American News organizations now if the shoe imagine if the shoe were on the other foot there are many forms of creative content I think let me just take a prominent example Facebook Facebook as an institution is is creative content the way it's formatted the technology that drives it as an institution Facebook is creative content imagine if you will a a fictitional daily newspaper um let's call it the daily Conehead the daily Conehead develops technology to take Facebook and put it on the daily Coneheads website which of course will drive traffic to the Daily Conehead and you can take a look and use Facebook just as if you were going to Facebook directly but it eliminates all the ads no ads on Facebook now all of a sudden massive traffic is driven to the website of the daily Conehead because the daily conehead has taken the creative content Facebook and is now using it without compensating Facebook that's the reverse of what is happening now and you can bet that Facebook and I certainly wouldn't blame them in that instance would be chasing the daily conehead like they chose like they stole Christmas they would be suits and counter so it's fine so that's what this bill is about it's not about whether you like the content whether I like the creative content that that his is is is is being used by our social media friends whether I like it or don't like it is really irrelevant the point is it's creative content and this bill will create a a mechanism to allow the two sides to sit down and negotiate on Fair compensation I can't guarantee you it'll work uh we've been through one markup as my my colleagues Senator Klobuchar knows I I still believe we should have had a full-blown Hearing in this committee we had a hearing it went through a subcommittee the Bill's been improved with amendments I know Senator Cruz had a very good amendment that we added to the bill if there are other amendments I'll certainly consider them between here and the floor but uh in the meantime that's to me is what the issue is about thank you Senator Kennedy understanding that there is another committee meeting where some members of this committee have to attend in a short time I think we ought to go directly to amendments and see if anyone has an amendment to offer to the bill Senator Padilla thank you Mr chairman uh colleagues I want to begin

Channel: Forbes Breaking News

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Length: 5min 7sec (307 seconds)

Published: Fri Jun 16 2023