Barry Diller Says Amazon “Not A Monopoly”, Dismisses Quarterly Guidance As “Dumbass” Work

Less than a day after Tesla CEO Elon Musk accused Amazon of being a monopoly and called for its breakup, Expedia Chairman Barry Diller said he disagreed with Musk’s assessment, but agreed that ‘smart’ regulations are probably warranted for tech giants, including another heavyweight that probably more closely resembles a monopoly.

That company, Diller says, is Google parent Alphabet, which Diller implied might someday obtain “monopoly status.”

“Amazon is not a monopoly,” says Barry Diller. “When you have monopoly status you do need regulation– its physics. If you are a monopoly you act like a monopoly.” pic.twitter.com/DHc1FnlT6Y

— Squawk Box (@SquawkCNBC) June 5, 2020

He added that he “grew up” in a heavily regulated industry – broadcasting – which had its “fairness” doctrine, another “sensible” rule.

At one point during the interview, Diller announced Expedia and IAC will no longer be giving earnings guidance, calling for an end to the practice altogether.

“Guidance is a bad business. We’re out. We’re not doing it anymore,” Diller said. “It keeps companies doing dumbass work.”

Barry Diller says Expedia and IAC will no longer be giving earnings guidance, calling for an end to the practice altogether. “It keeps companies doing dumbass work.” https://t.co/qLdFWDJKik pic.twitter.com/xfFFLtHE4t

— CNBC (@CNBC) June 5, 2020

Diller also repeatedly called President Trump “Donkey Kong”, a private nickname for the president that elicited a few giggles among the producers, we imagine.