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Google, Facebook, and Amazon benefit from an outdated definition of “monopoly”

By Quartz

A few weeks ago, Italy fined Apple and Samsung €15 million for the “planned obsolescence” of their smartphones. The antitrust regulators allege that both companiesRead full story

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  • The entrepreneurial economy is being distorted by the internet giants, who are blocking traditional tech opportunities, forcing startups into spaces that are relatively more capital intensive. It is time to update antitrust law to reflect the anticompetitive behavior of Google, Facebook, and Amazon.

  • "If companies can show that a merger or acquisition would not impact prices, for the most part, they win approval. But in the context of technology companies—which often offer 'free' platforms and instead sell user attention as their product—this low-prices-focused paradigm makes no sense." This is a compelling argument. We've come a very long way from the days of Microsoft battling the Justice Department.

  • High Tech conglomerates are their own worst enemies. Facebook can’t seem to get out of its own way, exaggerating sales, unable to control nefarious entities. Google with all their H-1B Visas, allowed foreign workers to force them to not help our military, and Amazon is viewed as a retail predator. They are inviting regulation and potential antitrust legislation, from both sides of the aisle. With Google, you could force disinvestment of Android, sale of YouTube, and sale of cloud services. Facebook

    High Tech conglomerates are their own worst enemies. Facebook can’t seem to get out of its own way, exaggerating sales, unable to control nefarious entities. Google with all their H-1B Visas, allowed foreign workers to force them to not help our military, and Amazon is viewed as a retail predator. They are inviting regulation and potential antitrust legislation, from both sides of the aisle. With Google, you could force disinvestment of Android, sale of YouTube, and sale of cloud services. Facebook, divestiture of Instagram. Amazon is a bit more difficult, since the argument used against them, is much the same as the old arguments against Walmart, which did not amount to much. Actuality Bezos was smart, supporting the defense department, stating Patriotic ideals.

  • There is no need to redefine the principles of antitrust laws. We simply need to broaden the definition of "consumer welfare" to include unquantifiable factors, such as mental health issues incurred by overconsumption of social networks. An interesting and completely valid argument nevertheless.

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