Consolidating Power: Antitrust and Consumer Protection

Chuck Todd begins with the growing firestorm surrounding President Donad Trump’s decision to withhold the Epstein files and why his behavior is only adding to the suspicion. He explains why Epstein is a central figure to the QAnon conspiracy many Trump supporters subscribe to, and why Trump’s continued dismissals of a theory he has fed for years will only further fracture his base and prolong the outrage over his broken promise to release all the files.

Then, Chuck is joined by formal FTC Chair Lina Khan to reflect on her transformative tenure leading the Federal Trade Commission and the critical battles she fought against corporate monopolization. Khan discusses how the concentration of corporate power today mirrors the early 20th century, exploring whether capitalism itself is failing as tech giants like Google and Amazon wield unprecedented control over commerce, media distribution, and information flow. She delves into the surveillance economy that has emerged from companies monetizing user data, the regulatory challenges posed by AI development, and controversial practices like surveillance pricing and non-compete agreements that trap both consumers and workers.

Khan also addresses the structural limitations of the FTC, noting how the agency is too small for its ambitious mission, while highlighting unexpected bipartisan support from the populist right for her antitrust work. The conversation covers her efforts to tackle everything from pharmacy benefit managers and subscription cancellation difficulties to the urgent need for algorithm regulation, particularly for content affecting children. As she prepares to leave the FTC, Khan reflects on the media's focus on markets rather than the broader economy, the ongoing fight for data privacy rights, and the "ferocious pushback" lawmakers face when challenging powerful corporate interests, offering practical advice for consumers seeking to protect their privacy in an increasingly surveilled digital landscape.

Finally, Chuck shares his experience of discovering that Google’s Gemini AI claims that he was diagnosed with Parkinson’s disease… which is not true. 

Timeline:

(Timestamps may vary based on advertisements)

00:00 Introduction

01:30 Seemed like Trump would fire Jay Powell to distract from Epstein

03:30 Markets reacted badly to potential firing of Powell

04:15 Trump attacks his own supporters over Epstein

06:15 “Hoax” is Trumpspeak for not having a good explanation

08:00 Trump’s behavior is creating more suspicion

11:30 Most Epstein associates probably just looked the other way

12:30 The more defiant Trump sounds, the more guilty he looks

13:15 Most right wing media has fallen in line behind Trump

14:15 Michael Flynn is the pope of QAnon, and is expressing doubts

16:45 The central tenet of QAnon is the idea of an elite pedophile cabal

18:15 If Trump says it’s a hoax, it knocks down the foundational pillar of Qanon

19:00 Epstein became the face of the conspiracy

20:30 Trump and his associates have fed the conspiracy theorists for years

22:00 If they had evidence of crimes, they would have brought charges

23:45 This could be the moment Trump supporters finally feel conned

25:15 Trump’s age is showing, possible health issue they won’t disclose

28:00 You can’t trust any press release the administration puts out

29:30 Trump won’t get out of the Epstein debacle unscathed

31:15 Lina Khan joins the Chuck ToddCast! 

32:15 Lina's path to becoming the FTC chair 

34:15 Concentration of corporate power is similar to the early 20th century 

37:15 Is capitalism failing? 

39:00 Large corporations control the distribution of media and information 

40:15 Will the consolidation of power destroy the media ecosystem? 

42:00 Google and Amazon have enormous power over commerce 

43:00 Why are users forced to give up their data in order to use a product? 

43:45 Companies monetized by surveilling users 

45:15 South Park perfectly parodied the concept of "Terms and Conditions" 

46:30 Making the same regulatory mistakes with AI that we did with social media? 

47:45 The barrier to entry to starting an AI company is very high 

48:45 Collected data is being used for surveillance pricing 

49:30 Is the FTC set up to be proactive or reactive? 

50:30 Non-compete agreements are being used to trap employees 

51:30 The FTC is too small for its mission 

52:15 The populist right supported Lina's work at FTC 

54:15 Can independent pharmacists survive in this market? 

55:45 Why do pharmacy benefit managers exist? 

57:30 What cases that she pursued has the FTC continued to ligitage? 

59:45 Subscriptions are incredibly difficult to cancel 

1:01:00 Companies have made subscriptions their business model 

1:03:45 How do you make the public aware of your work at the FTC? 

1:06:15 The media covers markets rather than the economy 

1:08:30 Who is regulating algorithms? 

1:09:45 There's a massive need for regulating algorithms that affect kids 

1:11:00 Will we ever get a data "bill of rights" or more individual control over data? 

1:12:30 Some data should be off limits for monetization 

1:14:00 Apple store's "Ask Not To Track" setting made a positive difference 

1:15:00 Younger users are more comfortable with giving up their data 

1:16:15 Lawmakers face ferocious pushback and lobbying 

1:16:45 Best ways for consumers to protect their privacy 

1:18:15 What's next for Lina?

1:19:45 Google AI search says Chuck has Parkinson's disease… he doesn't 

1:22:45 The AI confused Chuck with a man named Todd in Florida 

1:23:45 AI tools have been trained on the garbage saved on the internet 

1:24:45 AI still has terrible flaws based on the data it trains on 

1:26:15 The dragnet approach to AI can cause people real problems 

1:27:30 AI products are half baked when released to the public 

1:28:45 Ask Chuck 

1:29:15 Why didn't the administration deport criminal migrants already in prison? 

1:30:45 Thoughts on 18 year term limits?

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