The End of Google As We Know It?

Capitalisn't

University of Chicago Podcast Network

Stigler Center, Chicago Booth, Socialism, Antitrust, University Of Chicago Podcast Network, Growth, 087667, Policy, Monopoly, Professors, Distortion, Research, Competition, Capitalisnt, Inequality, Promarket, Politics, Policymaking, Special Interest, Economics, Efficiency, Regulations, Chicago, Business, Markets, University Of Chicago, Kate Waldock, Capitalism, Friction, Bethany Mclean, Government, Macroeconomics, News, Education, Waldock, Georgetown, Microeconomics, Luigi Zingales, Zingales, Finance, Ucpn

4.5 • 584 Ratings

🗓️ 15 August 2024

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week we're taking a quick summer break, but in the meantime, we wanted to re-share a special episode that is relevant in the news again. With the recent federal court ruling that Google engaged in illegal monopolization of internet searches, we thought it would be a great opportunity to share our episode with lawyer Dina Srinivasan. She's an expert in the field of competition policy and a fellow with the Thurman Arnold Project at Yale University. Google is no stranger to lawsuits and has previously defeated many of them, but now, antitrust experts are optimistic that this case against Google's advertising business is even stronger for the government than the Search case that Google lost just last week. To simplify the apparent complexity of the case and understand why and how it matters to consumers, the advertising market, the tech industry, and the economy, Luigi conducted a special bonus interview with Srinivasan. Following the interview, Bethany joins Luigi to discuss the implications of this case for consumer harm, the business model of journalism, democracy, and beyond.

Transcript

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0:00.0	Hello, Capitalism listeners. We hope you're enjoying your summer. We're taking a quick break before
0:06.2	the start of the fall, but with the recent news about the Google search antitrust case, we thought
0:11.3	would take this opportunity to reshare a special episode. We spoke with lawyer Dina Shrinivassan
0:16.7	about another antitrust case that's still looming for Google, this one over their advertising
0:21.9	business. Antitrust experts have indicated on our blog, Pro Market, that this case, which
0:27.5	begins trial next month, is even stronger than the search case. So it'll be crucial to listen
0:32.3	to this episode and get up to date. We hope you enjoy it, and we'll be back in two weeks with
0:37.0	exciting new episodes featuring an all-star lineup. We're so enjoy it, and we'll be back in two weeks with exciting new episodes
0:38.0	featuring an all-star lineup. We're so excited for you to hear what's coming, and thank you for
0:42.8	listening. Look, this is the economic engine of a free internet. And if advertisers like you and
0:49.6	others across the economy are paying more to buy ads. It's inevitable that the American population is
0:56.2	seeing this tax come through in the form of higher price goods and services.
1:03.7	I'm Bethany McLean. Did you ever have a moment of doubt about capitalism and whether
1:09.2	greed's a good idea? And I'm Luigi Zengalis.
1:12.0	We have socialism for the very rich, rugged individualism for the poor. And this is Capital
1:18.3	Isn't, a podcast about what is working in capitalism. First of all, tell me, is there some society
1:24.2	you know that doesn't run on greed. And most importantly, what is it?
1:28.0	We ought to do better by the people that get left behind.
1:30.9	I don't think we shouldn't kill the capital system in the process.
1:34.4	One of the major issues in capitalists today is, of course, the role of digital platforms
1:40.0	and the limits that antitrust laws should impose them.
1:44.2	In late 2020, the DOJ brought a case against Google search engine business,
	...

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