Comment by tossandthrow
1 day ago
The US has shown absolutely no willingness to carry out antitrust cases the past many years - at a significant harm to a lot of people.
The implied corruption is likely not from these other countries that start making these cases now, but is a persistent feature of US governance.
> The US has shown absolutely no willingness to carry out antitrust cases the past many years
Lina Khan's FTC brought cases again Microsoft, Meta, Amazon, Mastercard, and more. They also prevented mergers (consolidations) in a lot of different industries. Could they have accomplished more? Certainly, but they did certainly did display a willingness to bring antitrust cases.
It does feel like Lina Khan's FTC was much more willing to play the part in the adversarial system. Don't necessarily agree with every decision but was surprising to see how willing the FTC was to jump into things and make unpopular (to stakeholders at least) decisions
> Could they have accomplished more?
unfortunately a lot of these things are on an election cycle.
One of the main problems in the US is that the US has an extremely broad antitrust statute:
> Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is hereby declared to be illegal.
> Every person who shall monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations, shall be deemed guilty of a felony, ...
It was passed in the era of robber barons and meant to be a strong hammer against anti-competitive practices. But because it was so broad, the courts kept chipping away at it over time through reinterpretation because by its terms it would prohibit a lot of things the courts didn't really want to get involved in policing, or they just made bad calls in years when the Court's majority wasn't that smart.
Meanwhile monopolists generally have a lot of money to pay expensive lawyers, so they structure their activities to fit within the loopholes the courts have carved out over the years and that makes it hard for an administration to hold them to account even when they have the will to do it.
Hyper-partisanship also makes this worse, because if everyone is convinced the other side is pure evil then they're going to try to undo anything the other party was trying to do without even considering what it is, which isn't compatible with long-term prosecutions that would have to span administrations.
The sentiment i picked up from HN is that she was more of an activist leader with a grudge against big corporations and that this clouded her judgement. The cases she bought were insubstantial and fell apart. She's a bad poster child for what the FTC should be.
To me, a good regulator should be losing big cases.
If they aren't, it means they're not pushing the boundaries of their authority hard enough.
2 replies →
This could not be more wrong. Lena Khan is on an absolute antitrust bender.
i thought it was strategic - to ensure global dominance in tech
> i thought it was strategic - to ensure global dominance in tech
I don't like the way this is phrased because it nearly implies that doing this is an advantage to the US population.
"Preventing foreign dominance in tech" is plausibly a legitimate goal. Preventing a foreign tech monopoly is a good thing. But the assumption that this can only be achieved by a domestic one is the fallacy. A domestic monopoly is still a disadvantage compared to a competitive market with a multitude of domestic companies.
Unless you're an authoritarian that wants to leverage the monopoly for the purposes of e.g. censorship. But then you're an enemy whose goal is to harm even the domestic population.
Why do you think Windows, MS Office, MSSQL, Azure, and other MS applications are used extensively in the federal government?
Its to prop up American businesses, and as a form of corporate welfare.
We see this a lot in various vertical industries. The USG could pay and make it free, but they would rather prop up proprietary software as long as its US based.
Not even being a monopolist matters.
4 replies →
A domestic monopoly might not be the only way to prevent a foreign monopoly, but it is a guaranteed way so it makes sense to let it proliferate.
Look at the state of the industry vertically. There's exactly 1 company that can produce the cutting-edge chip fabs, ASML. TSMC utterly dominates using the fabs to actually produce the chips. That's already 2 foreign-controlled horizontal monopolies on which the rest of the industry relies.
If you want any sort of control in the industry (and not be bullied for access like we do to China), you need to be the biggest buyer / operator of those chips. And so we encourage US mega-tech companies buying up all the GPUs, so those other monopolies aren't used to cripple us (or at least they'd cripple the whole chain if they tried).
1 reply →
It's an advantage to the part of the US population that matters to decision makers.
1 reply →
It is. Some members of congress somehow magically end up buying tech stocks right before they go to the moon or selling them right before tariffs hit.
It's as if they have some insider knowledge or something, and also a lot of skin in the game to protect these monopolies.
You can buy the Pelosi ETF (NANC) and enjoy the same upside!
8 replies →
All those Silicon Valley types went to Washington to kiss the ring of the pope.
And give gold idols
[flagged]
Precisely. Trump not smart enough to think about these retaliations. Would in some cases make tarrifs neutral
Big Tech isn't exactly Trump's base. Trump collects wins[1] for his base at the expense of his non-supporters. Not sure how this makes Trump "not smart".
1 - Regardless of what you think of tariffs, his base largely considers them wins.
They are gonna win so much they'll be completely indigent before it's over.
3 replies →
Because he lives in a country. Going to war with half the people around you makes the whole country much poorer.
1 reply →
> Trump collects wins[1] for his base
Trump collects wins for himself and his base flip-flops along with him and his every whim.
It's not about smart or not, he doesn't care beyond what he can get from it. He doesn't care about any retaliations and he knows he has his base eating outta the palm of his hand. Smart doesn't play into any of it, it's not needed. The Project state takes care of the smarts part of the administration