Understood: Who Broke the Internet?

In God We Antitrust

33 snips
May 19, 2025
Lina Khan, Chair of the FTC and a leading voice in antitrust law, takes center stage discussing the historic influence of Robert Bork on competition policy. She reveals how his ideas granted tech giants like Amazon unchecked power for decades. Khan dives into the struggles of small business owners facing Amazon's ruthless tactics and the pressing need for renewed regulation. The conversation sheds light on the ethical dilemmas of e-commerce and the fight to restore agency to consumers in a monopolized market.
Ask episode
AI Snips
Chapters
Books
Transcript
Episode notes
ANECDOTE

Amazon Undercuts Own Sellers

  • Mike Wiesel made a natural lip balm business that thrived on Amazon until Amazon began buying his products and selling them cheaper than him.
  • This tactic crushed his margins and sales, showcasing Amazon's competitive dominance.
INSIGHT

Bork's Consumer Welfare Shift

  • Robert Bork transformed U.S. antitrust enforcement around consumer welfare, focusing mainly on lower prices as the measure of harm.
  • This shift reduced regulation against monopolies unless they raised prices, assuming market self-correction would follow.
ANECDOTE

Amazon's Diapers.com Tactic

  • Amazon drove Diapers.com out of the market by selling diapers below cost in a brutal price war.
  • Once Diapers.com was gone, Amazon raised diaper prices, illustrating predatory monopoly tactics.
Get the Snipd Podcast app to discover more snips from this episode
Get the app