In today's On Tech: The House antitrust report on Big Tech is thorough, unafraid to propose sweeping policy fixes and also...kinda overly broad. When you have an antitrust hammer, everything looks like antitrust nail?https://www.nytimes.com/2020/10/07/technology/congress-big-tech.html …
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But look, rewind back a few years. I would not have believed that there would be (mostly) bipartisan agreement that four of America's most successful companies got that way by breaking the rules, and the status quo must change. This is a big deal.pic.twitter.com/eNtcwecE6r
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Rewind back to just last year, when some lawmakers were mad that the FTC went easy on Facebook. There is overwhelming agreement here that Congress needs to embolden the FTC to do better and more to enforce antitrust rules. To which I say, HECK YES.
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But also, does empowering the antitrust agencies kinda let Congress off the hook do actually pass laws to prohibit the kind of tech conduct it opposes? Good 2019
@matt_levine column on this point:https://www.bloomberg.com/opinion/articles/2019-07-23/facebook-negotiated-its-rules?sref=7ooTCNG1 …2 replies 1 retweet 4 likesShow this thread
Congress is structurally beholden to Facebook because it has a duopoly in online political advertising. Even the most anti-Facebook members of congress spend hundreds of thousands of dollars on the platform. It's an interesting and unique form of regulatory capture
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