Today, when Joe Biden talks about corporate “concentration”, he sounds a lot like Mr Lynn, and he has named Mr Lynn’s friends to top posts. Lina Khan, who worked at the Open Markets Institute for seven years, now chairs the Federal Trade Commission , an agency charged with protecting consumer privacy and enforcing antitrust law. Tim Wu, formerly on Mr Lynn’s advisory board, has a post advising the White House on competition and technology policy.
Many believe that Barack Obama’s administration, of which Mr Biden was a part, became too enamoured with large tech firms and failed to scrutinise mergers, like Facebook’s purchase of Instagram. This is Mr Biden’s chance at a do-over. The mood in Washington is “180” degrees different, according to Luther Lowe, who runs public policy for Yelp, an internet firm that has long been complaining about Google’s bullying of smaller rivals.
Take congressional action first. Just about the only issue on which Republicans and Democrats in Washington agree, besides China, is that tech firms have become too powerful. At least 14 tech-focused bills have been introduced in Congress this session. Many are bipartisan.
Congressional action is far from guaranteed: partisan politics may still get in the way. Among Republicans, there is “disagreement” about how strongly to intervene in markets, says Ken Buck, a Republican congressman from Colorado. The president’s critics could also oppose legislation they might otherwise support, just to kneecap him.
Antitrust enforcement is the final front of Mr Biden’s campaign. This will involve scuttling proposed mergers and attacking firms for anticompetitive behaviour. Those running competition policy for Mr Biden believe that the scope of antitrust law has been artificially narrowed over the past 40 years. They argue that a focus on consumer welfare, popularised by Robert Bork, a conservative judge, from the late 1970s, fails to take into account other harms from increased concentration.
That's a lie.
😂😂😂😂😂😂😂😂😂😂 Do you want us to believe it?
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