Billionaire investor Barry Sternlicht on Tuesday warned that Vice President Kamala Harris’ policies are detrimental for business and that she is more progressive than President Joe Biden.
The Federal Trade Commission (FTC) under the Biden-Harris administration has targeted successful American industries, including artificial intelligence and fashion giants. Sternlicht on “Squawk Box” used FTC Chair Lina Khan’s antitrust actions as an example of how Harris’ policies are anti-business and said she will need to moderate if she wants to beat former President Donald Trump.(RELATED: Org That Defunds Conservatives Tries To Sic Biden FTC On Elon Musk’s X)
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‘Abhorrent To Business’: Billionaire Warns Kamala Harris ‘Further Left Than Biden’ pic.twitter.com/WPMznW9N4u
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“Half the nation is independent still. Whoever goes to the middle will win the election. If Trump can convince some of the centrists, like myself, that he’ll be a moderate, he wins. And I don’t think it’s in her nature to go to the middle. She’s further left than Biden. And she has some policies that are obviously abhorrent to business,” Sternlicht said. “You know, we’ll see how that plays out … And she needs to go to the center. I think her vice presidential pick will be somewhat important … I mean, her meetings in Washington have mostly been with the black caucus and the progressives. She’s kind of ignored the moderates.”
“I think on business, we all think the FTC has lost their center … They’re coming after some industries in real estate, where collectively, we and another company own less than a tenth of one percent of the market and they’re looking at our pricing,” the billionaire added. “I mean, this sort of crazy stuff, especially when you have Google with, what, 95% of search or something like that? So I think [Khan] has gone off the deep end.”
The FTC in January 2022 took Meta to court accusing Facebook of having a monopoly in social media. The commission also charged Amazon in June 2023 for allegedly having “duped millions of consumers into unknowingly enrolling in Amazon Prime,” according to its complaint.
Harris, who is now the presumptive Democratic nominee, pushed several left-wing pieces of legislation during her tenure in the U.S. Senate, including government workforce diversity, environmental justice, eviction freezes and work authorization for certain cohorts of unlawfully present migrants.
Trump leads Harris on how they would handle the economy 12%, and by 13% on immigration policies, according to a recent Wall Street Journal poll. The former president also has a 5% lead on crime.
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