Chapter 1: A Shift in Antitrust Policy

Recent appointments within the Biden administration have ignited significant discussion among industry leaders, experts, and the media regarding antitrust laws. The underlying question is whether these appointments indicate a shift away from four decades of established antitrust principles. The answer is clear: they do.

Biden has appointed two notable figures in the realm of antitrust: Tim Wu, who authored The Curse of Bigness: Antitrust in the New Gilded Age, to the National Economic Council, and Lina Khan, known for her influential 2017 Yale Law Journal article, Amazon’s Antitrust Paradox, to the Federal Trade Commission.

To grasp the importance of these appointments, one must reflect on their past connections to the New America Foundation, a think tank in Washington, D.C. At that time, Wu had recently completed a fellowship, while Khan was a junior member of the Open Markets Program, led by the passionate and often controversial Barry Lynn.

As I worked in an office nearby, I watched Lynn tirelessly engage in anti-monopoly initiatives, often directing Khan in her investigative journalism. Her articles tackled topics like “The Rise of Big Chocolate” and “How Monsanto Outfoxed the Obama Administration,” but her true focus was Amazon.

By 2015, Khan faced a pivotal choice between a job at the Wall Street Journal and attending a prestigious law school. Opting for Yale, she resolved to delve into Amazon's complexities. Her research revealed that the antitrust framework shaped by thinkers like Robert Bork and Milton Friedman had strayed from its foundational principles. For much of the 20th century, large market share and concentration were often grounds for regulatory intervention.

However, influenced by Bork and Friedman, the focus shifted to whether consumer prices increased. By that standard, Khan noted, Amazon appeared to be a market ally, despite its dual role of selling third-party products while competing with those same sellers. Her groundbreaking Yale Law Journal article on this subject quickly earned her acclaim in legal circles.

In the meantime, Barry Lynn faced removal from New America after clashing with Google, a significant donor. This conflict catalyzed Lynn's activism, leading to the establishment of the Open Markets Institute, which has become a powerful voice against monopolization. Wu, through his writings, has also emerged as a leading advocate for a return to traditional antitrust principles and the breakup of major tech entities.

Today, Khan, Wu, and Lynn are recognized as pivotal figures in antitrust advocacy. Biden's decision to appoint both of them signals a strong commitment to their perspectives, likely reshaping policy discussions significantly.

As they transition from observers to decision-makers, the environment for Big Tech is poised to become increasingly challenging, with heightened scrutiny on monopolistic practices and potential breakups on the horizon.

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Chapter 2: The Future of Big Tech

As the 2020s unfold, we may witness a critical transformation in both economic and cultural landscapes. While some speculate that we are on the brink of a new era of prosperity, it's essential to approach such predictions with caution.

In this video, John Ozbay explores the security of Big Tech and the complexities surrounding digital rights in today's society.