|
Listen To This Story
 |
No one expected Joe Biden to pass more progressive legislation than any president since Lyndon Johnson. Hardly anyone noticed that Biden staffed his administration with many effective leaders managing to push policies that benefit average Americans. One such player is the chair of the Federal Trade Commission (FTC), Lina M. Khan.
Khan has taken actions that have drawn objections from business leaders and praise from consumer advocates. Her vigorous antitrust enforcement against major tech companies has included scrutinizing mergers and acquisitions, such as Microsoft’s acquisition of Activision Blizzard and Meta’s takeover of Within. Khan’s broader view of market dominance has led to increased scrutiny of companies like Amazon, Google, and Meta, investigating their business practices for potential monopolistic behavior. The FTC announced rules banning noncompete agreements. This has been challenged in court. Additionally, the FTC under Khan has ramped up its focus on data privacy and protection, taking enforcement actions against companies for alleged privacy violations.
These actions have sparked a debate about the balance between regulation and innovation. Many tech CEOs argue that Khan’s approach represents regulatory overreach, potentially stifling innovation and creating a burdensome regulatory environment. They contend that her aggressive stance on antitrust and data privacy could negatively impact the industry’s growth. In contrast, Khan and her supporters believe that these measures are essential for ensuring a competitive and fair marketplace; they advocate redefining legal standards to consider broader implications for market competition and consumer welfare.
While Elon Musk and his buddies are attracted to the deregulation promises from the Trump campaign, other billionaires would rather support the Harris campaign in hopes of leveraging that support to get the new president to fire Khan and other thorns in their side.
- Reid Hoffman is one example. The billionaire co-founder of LinkedIn and funder of the centrist polling group Blueprint told CNN that Khan is “waging war on American business” and suggested that Harris replace her. Hoffman donated $7 million to the leading pro-Biden and Harris super PAC. He and others persuaded Netflix co-founder Reed Hastings to also donate $7 million. Additionally, he is embarking on a fundraising tour with Harris to raise $100 million from tech industry interests.
While you’re here enjoying DonkeyHotey’s latest cartoon, please take a moment to read these articles on related topics:
- Republicans Spend Sunday Morning Defending the Indefensible
- So Far So Good for Harris
- Other DonkeyHotey cartoons
