Last week, Senator Elizabeth Warren (D-MA) unveiled a proposal to “break up Big Tech.” Her proposal has been met with swift criticism from startup investors, experts, academics, and tech industry influencers saying that the proposal would: —Do more harm than good; —Stifle competition and set arbitrary thresholds; —Lead to increased prices; —And not solve the issues […]
Last week, Sen. Warren unveiled a proposal to “break up Big Tech,” arguing businesses that didn’t exist 25 years ago “are among the most valuable and well-known companies in the world.” Experts from across the political spectrum, academia, and the tech industry weighed in on the damage the plan would cause to American consumers and […]
This morning, Morning Consult released a new poll finding 41 percent of respondents support a newly announced Federal Trade Commission Tech Task Force. The poll also found that respondents believe the tech industry holds less influence than Hollywood and Wall Street, offering the latest data point that illustrates public opinion of the tech sector. This […]
A new op-ed from trade association News Media Alliance’s president and CEO David Chavern dismisses the contributions of leading tech services and argues publishers should form a cartel and extract rents by implementing controversial new regulations. In reality, though, leading tech services have taken great steps to empower publishers in the Internet Age, while the […]
Earlier today, Georgetown’s Larry Downes and the Brookings Institution’s Blair Levin published an op-ed in the Washington Post, asking if the recent tech backlash was “going askew.” Downes and Levin point out that critics of leading tech services propose only vague alternatives to the consumer welfare standard, and that the tech sector is in fact […]
Yesterday, the Financial Times editorial board pointed to four areas of increased regulatory scrutiny of leading tech services: bias, privacy, intermediary liability, and antitrust. Below are key developments to help understand each issue. Additionally, it’s critical to remember that tech continues to buck trends that plague the broader economy, fueled by competition. Investment and R&D […]
As FTC hearings on competitiveness and consumer welfare continue this week, wanted to flag the Information Technology and Innovation Foundation (ITIF) new paper by senior fellow Joe Kennedy, titled, “Why The Consumer Welfare Standard Should Remain The Bedrock Of Antitrust Policy.” Kennedy’s core arguments are below. Contrary to critics, the consumer welfare standard goes well […]
Below are highlights from the Senate Judiciary Committee Subcommittee on Antitrust, Competition Policy and Consumer Rights hearing with Assistant Attorney General for Antitrust Makan Delrahim and Federal Trade Commission Chairman Joe Simons. Videos are hyperlinked with the quote. Sen. Mike Lee (R-UT), Chairman of Subcommittee on Antitrust, Competition Policy and Consumer Rights: “These critics are […]
Earlier today at the Constitution Center, the Federal Trade Commission held the second hearing in its Competition and Consumer Protection in the 21st Century series. Competition policy experts from across both the country and the political spectrum convened in Washington, D.C. to discuss the current state of antitrust law. Highlights below. It’s important to remember […]
Tim Wu wants to break up Facebook and other leading tech services, because “we’re in a time where we need to bring back the controls on bigness,” according to a recent Vergecast, summarized here. Wu’s case overlooks several critical issues. 1. Wu downplays existing competition among tech players (despite having hailed it as a solution […]
Hostility to innovation and technology diminishes the incredible Internet-enabled opportunities that leading tech services provide: empowering consumers, driving prices down and increasing choice, and providing platforms to help entrepreneurs grow their businesses. It has given us a golden era of entertainment, knowledge, and everything from fashion startups, to booming mom and pop stores, to the latest app.
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