SPONSORED:

Matt Stoller: Obama 'responsible' for massive power of social media companies

Matt Stoller, director of research at the American Economic Liberties Project, responded to former President Obama's criticism of social media giants by calling him culpable in their rise to dominance in a Hill.TV interview.

Stoller told the hosts of "Rising" -- Krystal Ball and Saagar Enjeti -- that Obama and other presidents had allowed for the formation of an "autocratic" system in which Facebook and other companies can buy out their competition and operate with little federal regulation.

"I don't hold the tech companies entirely responsible either, I hold Obama responsible for this," said Stoller. "We have a centralized, autocratic internet because of policy choices that [former President George W.] Bush, then Obama, then [President] Trump made, which is to allow these companies to buy any competitor that they wanted, without any merger challenges, and refusing to regulate privacy and data, which further allowed them to roll up the advertising market."

Watch part of Stoller's interview above.