Six percent of the S&P 500 testified in front of Congress last week, including FB, GOOG, and TWTR. Big Tech is responding to incremental political pressure by ramping up their DC lobby efforts.
Bottom line: lobby spending is a productive way to assess single stock regulatory risk since it reflects how much pressure the companies themselves feel.
Q3 2020: Facebook spent $4.90 million on lobbying last quarter, up 1.4 pct q/q and 2.7 pct y/y.
2019: The company spent $16.71 million on lobbying last year, exceeding its prior annual record of $12.62 million in 2018.
2019: The company spent $12.78 million on lobbying in 2019 and was the ninth highest spender on lobbying last year.
The company spent a record sum of $21.85 million on lobbying in 2018.
2: Facebook and Amazon have spent the most on lobbying this year versus all other companies, tech or otherwise.
https://www.zerohedge.com/markets/how-much-has-big-tech-spent-lobbying-congress
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