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Happening shortly House Judiciary Committee on #Antitrust and Big Tech
Ranking Member Sensenbrenner points out the focus should be on consumer protection and that government breakup or changing antitrust law would not likely improve that. Instead he suggest we focus on the enforcement and principled approach to existing antitrust law. #antitrust
. @JerryNadler expresses concerns about consolidation and alleges the major tech companies express dominant control. A great explanation on if concentration is an issue and illustrates an antitrust problem or harms consumers is this paper from @JV_Kennedy https://itif.org/publications/2020/05/18/monopoly-myths-concentration-leading-higher-profits
. @Jim_Jordan uses his opening statement to complain about conservative bias online. Whether or not you think this is an issue. This is not an antitrust issue and we should be concerned about calls to use antitrust laws for non-competition purposes. https://www.americanactionforum.org/daily-dish/dont-let-the-techlash-alter-antitrust-principles/
Also #Section230 enables more platforms (including conservative ones) for speech because new entrants don't have to be concerned about liability. It is a pro-competition policy. It'd be far harder for new platforms to start without it. #antitrust
. @billbaer50 starts testimony. He argues that the courts and the Chicago School have narrowed antitrust too much and that reform and more resources are likely needed.
. @ZephyrTeachout suggests that Congress needs to be more engaged in antitrust and economic policy and suggests that key parts of tech are an essential part of public life in an unaccountable way. #antitrust
. @ZephyrTeachout testifies the need for a single line of business law. This type of law could prevent many beneficial practices including generics (so long Costco Kirkland brand at Costco) and does not reflect consumer harm. #antitrust See my latest: https://www.americanactionforum.org/insight/why-technology-should-not-be-regulated-like-finance/
. @Michael_Kades testifies that the courts have narrowed the scope of #antitrust too much and that this requires Congressional intervention. Suggests that AT&T could not have been broken up under current standards.
. @ksabeelrahman gets straight to what he's after in his testimony: regulatory remedies and a structural break up. I've discussed before that such a break up wouldn't solve many of the concerns and would bring with it new problems. See for example: https://thehill.com/opinion/technology/462995-breaking-up-big-tech-is-the-latest-techlash-but-what-would-it-actually-do
Christopher Yoo testimony focuses on criticizing the changes in antitrust proposed. For example, noting that providing more than one service provides consumers benefits by lowering prices. (AmazonBasics and more are examples of this) #antitrust
Christopher Yoo also discusses the problem with mandated portability. He notes that large platforms already provide this. "The reality is different companies structure their data in radically different ways." Standardizing this would result in picking winners and losers.
