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On the Media cover image

The Ensh*ttification of Everything

On the Media

NOTE

Preventing Monopoly Formation

The speaker discusses the impact of monopolies in the tech industry, emphasizing the importance of preventing their formation. They highlight that modern tech barons are not fundamentally different from their predecessors but utilize technology for faster transactions. The speaker suggests that the best time to prevent monopolies was 40 years ago, but the second best time is now. They draw on historical antitrust enforcement from FDR to Reagan, contrasting it with the Reagan era's shift in antitrust views led by Robert Bork. Bork's 'The Antitrust Paradox' argued that monopolies result from efficiency and should not be penalized, a view the speaker refutes. They underscore the historical intent of antitrust laws to prevent the concentration of power in business, echoing sentiments from John Sherman in 1890 about resisting autocrats of trade.

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