Senator Josh Hawley from Missouri introduced a new antitrust bill Monday.
A large percentage of startups exit via acquisition, and investors depend on those opportunities.
This bill goes against Hawley s intention to give smaller companies a chance to succeed.
On Monday, Senator Josh Hawley from Missouri introduced a bill that would make substantial changes to antitrust law by banning all acquisitions by companies with a market cap above $100 billion and changing the standard used by antitrust regulators when considering whether a company s actions are anticompetitive.
Its intended goal is to curb the ability of large companies to use their size to squeeze out the competition by buying up other companies.
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Tuesday, March 9, 2021
“Mark my words: Change is coming. Laws are coming.” That was the warning David Cicilline (D-RI) – the House Judiciary Antitrust, Commercial, and Administrative Law Subcommittee Chairman – gave on February 25
th at the first in a series of hearings following the Subcommittee’s 16-month probe into Big Tech’s gatekeeping power. This one, titled
Reviving Competition, Part 1: Proposals to Address Gatekeeper Power and Lower Barriers to Entry Online, focused on three proposed reforms: interoperability and data portability requirements, nondiscrimination rules, and structural separation. The majority of the hearing witnesses, ranging from the CEO of Mapbox to the Director the Competition Advocacy Program at the Global Antitrust Institute, were clear supporters for these proposed reforms. While none are new ideas, each, if passed, would be a significant sea change in competition law.
Biden gives tech s toughest critics seats at the policy table
Tim Wu and Lina Khan. Photos: Getty Images
An influx of tech antitrust hardliners in the Biden administration signals a new toughness on tech from the Democrats.
Why it matters: Tech companies that grew unfettered by regulation during the Obama administration will now be under scrutiny from advocates that have made a name for themselves by targeting the behemoths size and power.
Lina Khan, well-known in antitrust circles for her ideas about stopping platforms like Amazon from competing directly with sellers, is being vetted as a nominee for a slot as Democratic FTC commissioner, according to two sources familiar with the matter. The news was first reported by Politico.