Gray Element Founder And CEO Asal Mehraban Responds To U.S. Secretary Of Treasury Steve Mnuchin’s Comments Regarding Amazon’s Negative Impact On The U.S. Retail Industry

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U.S. Secretary of Treasury Steve Mnuchin responded to the Justice Departments July 23 announcement that it will open a broad antitrust review of big technology companies. In an interview with CNBC, Mnuchin said it is “absolutely right that the attorney general is looking into these issues.” In response to Mnuchin’s comments, Gray Element CEO and Founder Asal Mehraban shares her thoughts on how Amazon affects the U.S. retail industry.

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Following an announcement made on July 23 by the Justice Department that it will open a broad antitrust review of big technology companies, such as Amazon, Facebook, and Alphabet, US. Secretary of Treasury Steve Mnuchin’s shared his support of the Justice Department’s review in a recent interview with CNBC's Squawk Box. “I think if you look at Amazon, although there are certain benefits to it, they’ve destroyed the retail industry across the United States," said Mnuchin, "so there’s no question they’ve limited competition."

In response to Mnuchin’s comments, Asal Mehraban, CEO and Founder of Los Angeles-based digital marketing and technology development company Gray Element weighed in with her support of Mnuchin’s remarks.

“The fact that retail giant Amazon is negatively affecting small businesses and retailers is a very valid concern,” Mehraban says. “I fully support U.S. Secretary of Treasury Steve Mnuchin’s comments, and also the Justin Department’s decision to open a broad antitrust review of these big technology companies. The control that technology giants have is a very real and serious issue that our retailers are facing. Unless the technology giant or the U.S. government takes the necessary steps to help these businesses, this issue can only get worse, and will subsequently be detrimental to our economy as a whole.”

According to the announcement the Justice Department will be opening a broad antitrust review of the big technologies, looking into how major online platforms have “achieved market power” and how their practices may have “reduced competition, stifled innovation, or otherwise harmed consumers.”

As the CEO and Founder of Gray Element, a leading Internet company specializing in e-commerce, SaaS development, search engine optimization and digital marketing, Mehraban has been helping businesses grow their brands online since 2007. Each day, Mehraban and her team witness firsthand how hard it’s getting for small companies to remain afloat and compete with the giant technology companies. As technology continues to advance at such rapid speeds like no other period in modern history, conventional businesses as we know are going to have to change and progress with technology. Unfortunately, technology continues to advance much quicker than small businesses can grow. As a result, small companies continue to find it hard to remain in business, which will affect the overall U.S. economy.

Mehraban believes there are solutions that the Department of Justice can employ to prevent the monopoly of the U.S. economy by several massive technology companies. One of those solutions would be for the government and large corporations to offer more resources that benefit small businesses, including low-interest loans and working capital. Another way the giant tech companies can help is to offer more of their technological resources to small businesses. If the government and giant tech companies work together, we can make space for small businesses to flourish, which will subsequently help everyone as it will result in a healthier economy. While changes to the way businesses work and interact with each other will take time, Mehraban believes that it all starts with a conversation.

As small businesses continue to face the threat of big technology corporations, Mehraban and her team at Gray Element continue to offer strategic advice and strategy to small businesses. Helping small businesses remain relevant and prevalent in today’s monopolistic society is what keeps Mehraban and her team motivated. Gray Element helps businesses with every aspect of their marketing campaign or digital technology development, from building sites and writing web copy, to managing a company’s online reputation and developing paid marketing strategies that meet clients’ goals.

About Gray Element

Experience and determination are our key ingredients at Gray Element. Since 2007, our team has developed numerous websites and applications for clients large and small. The businesses we help come from a variety of industries, including financial, medical, fashion, and the services industry. Gray Element is led by seasoned professionals who drive innovation to surpass the boundaries of design and technology. We are thought-leaders in our industry and passionate about helping businesses launch their big ideas and reach the highest potential.

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Asal Mehraban
Gray Element
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