I'll be the first to admit, I'm not an expert on net neutrality and what the best public policy is for a service that has become absolutely ubiquitious and vital to commerce and information. It does seem to me that given the omnipresence of the internet in our lives that it does need to be protected from usurious service providers.
But I do think it is incredible that politicians, particularly Republicans, used President Obama's call to regulate internet service as a utility under Title II of the 1934 Communications Act, to promulgate political rhethoric to further divide the parties. Senater Ted Cruz from Texas called Obama's stance: "Obamacare for the internet." Quite a specious correlation.
It's about the people, Mr. Cruz. And the people spoke. With 4 million comment letters from concerned onlookers, it appears as if democracy won rather than political games.
The hallmarks of net neutrality include:
- That no content is blocked
- That the Internet is not divided into pay-to-play fast lanes for Internet and media companies that can afford it and slow lanes for everyone else.
Seems fair to me. Here's an interesting pair trade after the net neutrality FCC ruling: Long Netflix and short a basket of cable companies, including Verizon and Comcast.
Full disclosure: I have no intention to initiate the pair trade.