Lina Khan Is Sending a Message to the Private Equity Industry

Odd Lots

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4.4 • 1.6K Ratings

🗓️ 16 November 2023

⏱️ 42 minutes

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Summary

Since becoming chair of the Federal Trade Commission, Lina Khan has arguably taken a novel approach to antitrust, one that incorporates broader ideas of what might actually constitute anticompetitive behavior. She's challenged huge tech companies like Amazon and Microsoft, and more recently, filed a lawsuit against a private equity firm that's been buying up anesthesiology companies across Texas. The action is noteworthy because it targets a common PE strategy of "rolling-up" multiple businesses and then consolidating them to eke out market efficiencies. So it's no wonder that PE players have called the FTC lawsuit "terrifying," or that Khan has been named "Wall Street's No. 1 enemy." In this episode, we speak with Lina Khan herself about the case, and whether the principles underlying it could be extended outside of healthcare to other industries with PE involvement. We also talk about political pushback, the FTC's research and examination process, and even... chickens.

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Transcript

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0:00.0	Join us in New York on November 29th for the Bloomberg Canadian Finance Conference,
0:04.6	proudly sponsored by National Bank of Canada Financial Markets.
0:07.8	2023 marks the 11 year anniversary of our Canada focused event and continues the tradition of providing timely
0:13.8	insights and actionable strategies. We'll have senior government
0:17.1	officials from Saskatchewan, Quebec, British Columbia, Alberta and Ontario as well
0:21.9	as speakers from Northland Power, World Bank, Transolta, and many more.
0:26.0	Register at Bloomberg Live.com slash Canadian Finance slash radio. Hello and I'm Joe Wiesenthaw.
0:45.0	Joe Wiesenthaw.
0:46.0	Joe, I think it's fair to say that antitrust is having a moment.
0:50.0	It's been having a moment for a while.
0:52.0	It feels like especially under this administration
0:55.2	There is this sort of renewed energy and interest of course I think last month or two months ago. We interviewed a
1:01.8	Jonathan Cantor Jonathan Cantor from the DOJ about it but it wet our appetite and we want to do more.
1:08.0	That's right we do want to do more and a lot of this renewed interest in antitrust and even controversy is down to
1:14.7	Lena Khan the chair of the Federal Trade Commission the FTC who's been going
1:19.4	after everything from big tech to private equity investments in the health care industry and I am
1:25.0	very happy to say that today we do in fact have the perfect guest because we're
1:29.3	going to be speaking to Lena Khan. I'm very excited. Me too. I'm psyed. I've been looking forward to this
1:34.8	episode for a long time. I'm thrilled that it's finally here. Well without further ado
1:38.8	Lena, thank you so much for coming on all thoughts. Thanks so much for having me. So I wanted to sort of dive in immediately into some of the most
1:46.7	recent stuff you at the FTC have been doing and you recently filed this
1:51.7	monopolization claim against a PE-backed company
	...

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