Joe Biden’s pick for chair of the regulatory Federal Trade Commission was a slightly nontraditional one: a 32-year-old Pakistani American lawyer named Lina Khan who’s been described as a “antitrust rock star.” She has big ideas about how corporations wield their power, and why large companies—i.e., monopolies—especially in Big Tech have remained unregulated for so long.
In that article, Khan described the way Amazon was invisible to antitrust laws. It was a remarkable attack on the way we’ve organized antitrust over the past 30, 40 years. And that was an explosive article—you don’t usually think of law review articles as going viral, but this one did. Here’s this law student who reshapes the debate over antitrust in her 20s. That’s crazy.
OK, we need to capture that tiny little hill over there, then that tiny little hill. If I do all that, I’m going to get the whole field. He’s capturing all these little pieces of the market, and all of a sudden he’s going to be running the whole thing.You read about Rockefeller, it’s like you’re reading about Bezos—in many cases they use some of the same tactics fighting the same political battles. There really are no new scams or new ways to monopolize.
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