Recently, Senate Antitrust Subcommittee Ranking Member Amy Klobuchar (D-MN) introduced the “Monopolization Deterrence Act of 2019.” The bill would enable the Federal Trade Commission and the Department of Justice to seek civil monetary penalties against individuals and corporations that engage in anticompetitive behavior such as favoring their own services over a competitor’s service.
Today, Facebook confirmed during its Q2 earnings call and in its quarterly report that the Federal Trade Commission notified the company in June that the agency has opened an antitrust investigation into Facebook. An FTC investigation means there is particular conduct by the company that the agency is interested in, and that the agency is examining that conduct to determine if it violates antitrust law.
Today, the Department of Justice announced it will conduct a review of competition in digital platforms. Public Knowledge welcomes this announcement and urges the DOJ to thoroughly examine the persistence of market power and the lack of significant new entrants into digital platform markets.
Today, the House Judiciary Committee announced that it is launching a bipartisan investigation into whether large technology companies are behaving in anticompetitive ways, and whether existing competition law can adequately address the challenges posed by these digital giants. A careful analysis will enable Congress to better consider whether it should pass stronger competition laws targeting technology companies.
A late 1970’s television commercial for stock brokerage firm E.F. Hutton closed with the tagline, “When E.F. Hutton talks, people listen.” On technology-related policy matters in the 21st century, when Harold Feld talks, people listen. We now have the advantage of Harold’s speaking between two covers. The volume you hold in your hands is a tour de force of the issues raised by the digital economy and internet capitalism. Whether you agree or disagree with Harold, these thoughts will stretch your intellect and stimulate your thinking.