financetom
Technology
financetom
/
Technology
/
Big Tech critic Lina Khan becomes US Federal Trade Commission chair
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Big Tech critic Lina Khan becomes US Federal Trade Commission chair
Jun 16, 2021 12:35 AM

Lina Khan, an antitrust researcher focused on Big Tech’s immense market power, was sworn in on Tuesday as chair of the US Federal Trade Commission, a victory for progressives seeking a clampdown on tech firms who hold a hefty share of a growing sector of the economy. Hours earlier, the US Senate had confirmed Khan, with bipartisan support.

She recently taught at Columbia Law School. Previously, as a staffer for the House Judiciary Committee’s antitrust panel, she helped write a massive report alleging abuses of market dominance by Amazon.com Inc, Apple Inc, Facebook Inc, and Google parent Alphabet Inc.

”We applaud President Biden and the Senate for recognizing the urgent need to address runaway corporate power,” advocacy group Public Citizen said in a statement. US Senator Elizabeth Warren tweeted that the administration’s selection of Khan was ”tremendous news.”

”With Chair Khan at the helm, we have a huge opportunity to make big, structural change by reviving antitrust enforcement and fighting monopolies that threaten our economy, our society, and our democracy,” Warren said in a separate statement.

The Information Technology and Innovation Foundation (ITIF), whose board includes representatives from tech companies, issued a statement warning that a ”populist approach to antitrust” would ”cause lasting self-inflicted damage that benefits foreign, less meritorious rivals.”

The federal government and groups of states are pursuing various lawsuits and investigations into Big Tech companies. The FTC has sued Facebook and is investigating Amazon. The Justice Department has sued Google.

Ahead of Khan’s appointment, Google and Amazon declined to comment and Apple and Facebook did not respond to a request for comment. Biden previously selected fellow progressive and Big Tech critic Tim Wu to join the National Economic Council.

In 2017, Khan wrote a highly regarded article, ”Amazon’s Antitrust Paradox,” for the Yale Law Journal. It argued that the traditional antitrust focus on price was inadequate to identify antitrust harms done by Amazon.

Also Read

: Top US senator fears Big Tech at home as Alexa, Nest dominate

In addition to antitrust, the FTC investigates allegations of deceptive advertising. On that front, Khan will join an agency adapting to a unanimous Supreme Court ruling from April which said the agency could not use a particular part of its statute, 13(b), to demand consumers get restitution from deceptive companies but can only ask for an injunction. Congress is considering a legislative fix.

Also Read: India likely to expedite Amazon, Flipkart antitrust probe as tech focus intensifies

Khan previously worked at the FTC as a legal adviser to Commissioner Rohit Chopra, Biden’s pick to be director of the Consumer Financial Protection Bureau.

First Published:Jun 16, 2021 9:35 AM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
AIOZ Network Partners With Alibaba Cloud to Boost AI, Storage and Streaming Services
AIOZ Network Partners With Alibaba Cloud to Boost AI, Storage and Streaming Services
Mar 22, 2024
The two companies will establish a DePIN alliance in south-east Asia.AIOZ's native token is currently trading flat after the announcement, it is up by more than 200% in 30 days.AIOZ Network will use Alibaba Cloud to improve Web 3, AI, storage and streaming services.Decentralized infrastructure network (DePIN) AIOZ Network has become the leading blockchain partner in Alibaba Cloud’s Innovation Accelerator...
The Analyst Landscape: 7 Takes On Clear Secure
The Analyst Landscape: 7 Takes On Clear Secure
Mar 22, 2024
Analysts' ratings for Clear Secure ( YOU ) over the last quarter vary from bullish to bearish, as provided by 7 analysts. The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective. Bullish Somewhat Bullish Indifferent...
Analysis-Apple antitrust suit mirrors strategy that beat Microsoft, but tech industry has changed
Analysis-Apple antitrust suit mirrors strategy that beat Microsoft, but tech industry has changed
Mar 22, 2024
(Reuters) - The U.S. government's antitrust lawsuit against Apple ( AAPL ) draws on the watershed 1998 case that broke Microsoft's ( MSFT ) stranglehold on desktop software, but that may prove to be an imperfect blueprint for addressing smartphone competition. The market for the iPhone today looks very different from the near-monopoly enjoyed by Microsoft's ( MSFT ) Windows...
Deep Dive Into Confluent Stock: Analyst Perspectives (17 Ratings)
Deep Dive Into Confluent Stock: Analyst Perspectives (17 Ratings)
Mar 22, 2024
In the preceding three months, 17 analysts have released ratings for Confluent , presenting a wide array of perspectives from bullish to bearish. The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 7 5 5...
Copyright 2023-2026 - www.financetom.com All Rights Reserved