MGMB - Elevation's Roger McNamee: It's inevitable that governments will want to take power back from Big Tech

Marc Millman/Getty Images Entertainment Roger McNamee, co-founder of Elevation Partners and an early investor in Facebook (FB), said Monday that it is "inevitable" that governments will want to take power back from Big Tech and suggested that investors focus on the "next generation" of emerging technology companies. Speaking to CNBC, McNamee cited China's recent regulatory crackdown as an example of the process in action. McNamee said that the near-term risks for antitrust action were limited in the U.S., though he thinks the government will continue to push for tighter regulation of the industry. As such, the famed venture capitalist suggested that investors focus on the newer tech companies, rather than put money in the current giants in the space. McNamee's comments come amid a spree of antitrust actions taken in recent months. Last week, President Joe Biden signed an executive order calling for stepped-up regulatory control over Big Tech. In the

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Elevation's Roger McNamee: It's inevitable that governments will want to take power back from Big Tech