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As the 2020 Democratic presidential candidate Elizabeth Warren has called for the breakup of big tech companies like Amazon and Facebook, her Senate colleague Amy Klobuchar has taken a more moderate stance, proposing antitrust reforms that would increase competition without necessarily forcing companies to divest their businesses.
Klobuchar, who is chair of the Senate Judiciary Subcommittee on Antitrust, Competition Policy, and Consumer Rights, recently laid out her antitrust agenda in a speech at the New America think tank. Here
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Klobuchar’s Antitrust Agenda
U.S. Senator Amy Klobuchar is set to unveil sweeping antitrust legislation that would increase scrutiny of big tech companies like Amazon, Facebook, and Google. The legislation would give the government more power to break up monopolies and make it harder for companies to merge. It would also create a new independent regulator to oversee the tech industry This could be bad news for big tech
The problem with big tech
“Klobuchar’s Antitrust Agenda – (Why Big Tech Should Fear Klobuchar’s Antitrust Agenda)“
The problem with big tech is that they have become too powerful and have abused their power. They have used their power to stifle competition, and to line their own pockets.
Klobuchar’s antitrust agenda is aimed at reining in the power of big tech, and restoring competition to the marketplace. Her plan would make it easier for new companies to enter the market, and would make it harder for big tech to squash those companies.
The plan would also make it easier for the government to prosecute antitrust violations, and would give more power to the Federal Trade Commission to police anti-competitive behavior.
Big tech should fear Klobuchar’s antitrust agenda, because it would mean less power and less money for them. And that is a good thing for the rest of us.
Klobuchar’s proposal
Klobuchar’s proposal would give the Federal Trade Commission and the Department of Justice greater leeway to go after monopolies. It would also make it easier for state attorneys general to pursue antitrust cases. Klobuchar’s proposal would also create a new agency, the Office of the National Initiative for Competition, to focus on antitrust enforcement.
Klobuchar’s proposal is similar to other recent proposals from Democrats in Congress, including one from Reps. David Cicilline and Hank Johnson. But Klobuchar’s proposal goes further in some areas, including giving the FTC and DOJ more resources to go after monopolies.
Why Big Tech Should Fear Klobuchar’s Antitrust Agenda
On the campaign trail, Sen. Amy Klobuchar (D-Minn.) has made it clear that she plans to take a tough stance on tech giants if she is elected president. Klobuchar has proposed a number of antitrust reforms that would have a major impact on the way big tech companies do business. Here’s why big tech should be worried about Klobuchar’s antitrust agenda.
The potential for antitrust action
Klobuchar’s antitrust agenda could spell trouble for big tech companies. The Minnesota senator has called for more vigorous antitrust enforcement, particularly against companies like Google and Facebook. She has also proposed a number of reforms to the existing antitrust laws, which could make it easier to bring cases against these companies.
Klobuchar’s agenda is likely to be met with resistance from the tech industry which has long enjoyed a largely hands-off approach from regulators. But given Klobuchar’s stature as a leading Democratic presidential candidate, her antitrust proposals could not be ignored by the tech industry or by the Trump administration.
The political climate
In recent years, there has been growing bipartisan agreement that the U.S. tech sector is in need of stricter regulation. This has been driven in part by a series of high-profile scandals involving the misuse of user data, as well as concerns that the industry has become too powerful and is stifling competition.
One of the leading voices in this movement is Democratic senator Amy Klobuchar, who has made antitrust reform one of her key policy objectives. In a speech at Georgetown University last month, Klobuchar outlined her vision for tougher regulation of the tech industry, saying that “the time for self-regulation is over.”
What makes Klobuchar’s antitrust agenda particularly worrisome for Big Tech is her willingness to use existing laws to go after companies like Google and Facebook. In her Georgetown speech, she specifically mentioned Section 2 of the Sherman Act, which prohibits monopolistic practices, as well as Section 7 of the Clayton Act, which prohibits mergers and acquisitions that could reduce competition.
It’s still early days but Klobuchar’s antitrust agenda could have major implications for the tech industry if she wins the Democratic nomination and goes on to win the presidency in 2020.
The precedent set by other industries
While it’s still early days in the 2020 presidential campaign, one candidate who has been vocal on the issue of antitrust is Minnesota Senator Amy Klobuchar. In a recent op-ed, Klobuchar set out her stall on the issue, warning Big Tech that she would be coming after them if she won the presidency.
Klobuchar’s antitrust agenda is notable for a number of reasons. Firstly, she has proposed a number of specific measures that would target the tech industry, including splitting up big companies, increasing transparency around algorithms, and enforcing stricter privacy rules.
But perhaps more importantly, Klobuchar is also vowing to take a much tougher stance on antitrust in general. This is a marked change from the Obama administration, which was criticized for being too lenient on big business. And it could have major repercussions for the tech industry if Klobuchar were to win the presidency.
One of the key aspects of Klobuchar’s antitrust agenda is her vow to take action against monopsonies. A monopsony is basically the opposite of a monopoly; instead of one company having complete control over a market, a monopsony refers to a situation where there is only one buyer in a market.
Traditionally, antitrust law has focused on monopoly power, but there is an increasingly persuasive case to be made that monopsony power can be just as damaging to consumers and competition. And given that the tech industry is dominated by just a few large companies, it could be in line for some serious scrutiny under a Klobuchar administration.
