Steve DelBianco’s Main Points:
- There is a lot of uncertainty between Silicon Valley and the State. Industry is aware that tech is being treated as a scapegoat, but what does DC really want from tech policy?
- It’s clear Chair Khan has a hammer and is just looking for a nail. We need to depoliticize agencies that are in charge of protecting consumers. Congress and the FTC have all the authority they need.
- The FTC needs clear rules to follow but also needs to follow the right procedure and make sure the public has a say. Currently, the FTC does not get enough public input under Khan.
- The House Judiciary Committee antitrust package is a trojan horse to push the progressive agenda, comparing it to the CCP’s treatment of China.
- TikTok has beaten YouTube, Facebook, and Twitter for views and eyeballs. This shows network effects are not prohibitive to join a new social media. You can multi-home your social media presence and interoperability is not the cure-all.
- Codifying the consumer welfare standard would ensure that antitrust law cannot be politicized to advance other agendas over protecting consumers.