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TechCheck+ Regulators Take On Amazon: The FTC’s Make or Break Moment 9/29/23

TechCheck

CNBC

Disruptors, Cnbc, Investing, Tech, Management, Business, Technology, Faang

4.566 Ratings

🗓️ 29 September 2023

⏱️ 9 minutes

🧾️ Download transcript

Summary

President Biden signaled an aggressive new agenda to curb the power of companies like Google, Amazon, Microsoft and Meta when he appointed Lina Khan, Jonathan Kanter, and Tim Wu – a trio of the toughest antitrust regulators to hold them accountable. Instead, two years in, big tech is bigger and more powerful than ever. This week on Tech Check, we dive into the toothless regulators and their upcoming showdowns that could be make-or-break for them, and for the dominance of big tech.

Transcript

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0:00.0

And an increasingly partisan Washington beating up on big tech that is one issue that seems to unite Republicans and Democrats.

0:11.0

They are huge, they have market dominance, and they behave like monopolists.

0:15.0

I think what they do is they suppress speech.

0:18.0

I have witnessed it on the conservative side.

0:20.0

I have no doubt that they suppress speech on the liberal side also.

0:22.8

So when President Biden appointed some of the toughest antitrust regulators to hold big

0:27.2

tech accountable, it signaled an aggressive new agenda to curb the power of companies

0:32.1

like Google, Amazon, Microsoft and Meta.

0:35.0

Instead, two years in, Big Deck is bigger and more powerful than ever.

0:40.0

Big Tech's been leading the rallies, been the big names that have allowed the markets really rally.

0:44.8

This week on Tech Check, we dive into the so far toothless regulators

0:48.9

and their upcoming showdowns that could be make or break for them

0:52.3

and the future dominance of big tech

0:54.0

Rue and Khan and Cantor.

0:56.5

FTC Chief Lena Khan, she made her name as a Yale law student when she wrote a

1:00.5

fiery paper on Amazon that the New York Times set reframe decades of monopoly law.

1:06.0

It shocked the business community and it shot her to fame.

1:09.0

Lena Khan is a big deal for the M&A community.

1:12.0

She is big. They're looking at it as a potential loss of

1:15.0

they're all scared she's 32 she's very young

1:17.8

Jonathan Cantor was appointed to lead the Department of Justice's

1:20.8

antitrust division he spent years in private practice going

...

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