Deep dive on Biden's EO, which directed all of the US government to take on big businesses, like tech giants, in concentrated markets, and whether it will work
“In the late 1930s, FDR's Administration supercharged antitrust enforcement, increasing more than eightfold the number of cases brought in just two years.”
BIG Matt Stoller
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Discussion
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@matthewstoller
Matt Stoller
on x
9. The executive order has mandates across a host of concentrated industry. It orders the Surface Transportation Board to crack down on railroad monopolies. Their stocks weren't happy when this news came out. https://twitter.com/...
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@matthewstoller
Matt Stoller
on x
11. The list of items is too long to mention. There are right-to-repair rules for electronics, farm equipment, and military systems. Hospital price transparency. Beer/liquor consolidation, seed, and supermarket studies. Crackdowns on pharma. Etc.
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@matthewstoller
Matt Stoller
on x
1. Ok, so last week Joe Biden made a speech that is potentially as significant as Reagan's comment that “Government is not the solution to our problem, government is the problem.” He said the era of corporate power is over. https://mattstoller.substack.com/ ...
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@matthewstoller
Matt Stoller
on x
3. It's weird for Biden, a 78-year old political lifer from the ‘corporate state of Delaware’ - as he put it - would break with how the Democrats have been for decades. But Democrats aren't blind, they recognized Trump was a symptom of an angry public. https://www.theatlantic.com…
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@matthewstoller
Matt Stoller
on x
2. “We are now forty years into the experiment of letting giant corporations accumulate more and more power.” With an explicit attack on Robert Bork, Biden pronounced this experiment “a failure.” https://www.whitehouse.gov/...
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@matthewstoller
Matt Stoller
on x
14. Big business was not. The U.S. Chamber called it a ‘government knows best approach.’ Hospital barons said this will harm care and railroad execs said it'll destroy railroads. Antitrust defense lawyers were so mad. Libertarians said 'Biden doesn't understand economics!' https:…
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@eriqgardner
Eriq Gardner
on x
As President Joe Biden signs a wide-ranging executive order intended to promote competition in the American economy, I ask: Just how did Netflix get so lucky? https://www.hollywoodreporter.com/ ...
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@carnage4life
Dare Obasanjo
on x
The FTC banning Amazon from buying MGM or Warner-Media & Discovery from merging to compete with Netflix just means Netflix gets to extend its lead. At this rate Netflix & Disney will likely split up the market while all other services fight over scraps. https://www.hollywoodrepor…
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@pkafka
Peter Kafka
on x
Good point: Increased M&A scrutiny is great for Netflix, since much of the M&A is aimed at competing with Netflix. https://twitter.com/...
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@thr
@thr
on x
Netflix Quietly a Huge Winner in Biden's Order Targeting Big Business https://thr.cm/9NLvK56
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@great_katzby
Brandon Katz
on x
All signs point to the FTC/DOJ regulating monopolies much more stringently in the digital age (overseas already do), making mergers and acquisitions for the smaller fish more difficult. If you can't join forces and you can't create organic internal growth... ☠️ https://twitter.co…
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@entstrategyguy
@entstrategyguy
on x
Wow, love this take by @eriqgardner. Really, the biggest benefit to Netflix in particular is to (potentially) set up a firewall between devices and streamers. A new ban on vertical integration. Very far from happening, but a potential outcome. https://twitter.com/...