Lost Debate The Age of Extraction
Nov 13, 2025
Tim Wu, a law professor and author of The Age of Extraction, joins to discuss the rise of America's tech giants and the antitrust battles that shaped them. He examines the historical roots of antitrust law, from Teddy Roosevelt's early trust-busting to today’s challenges with monopolies like Amazon. Wu highlights how tech companies use tactics like sponsored listings to extract revenue while stifling competition. The conversation also touches on AI's role in reinforcing market power and the need for a competitive landscape to foster innovation.
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Why Antitrust Laws Existed
- Antitrust laws were born to check concentrated private power that resembled state power in the late 19th century.
- They aimed to restore a nation of small producers and prevent unaccountable private domination.
Teddy Roosevelt’s Railroad Showdown
- Theodore Roosevelt sued J.P. Morgan's Northern Securities to show government could discipline private power.
- Roosevelt warned that unchecked concentrations could drive people toward revolution or extreme alternatives.
IBM Case Opened Software Markets
- Suing IBM in the 1960s forced it to unbundle software and created space for a U.S. software industry.
- That intervention helped spawn firms like Microsoft and Oracle and seeded later PC innovation.
