Thread by @CharlottesWWWeb

Getting started at the #StiglerCompetition conference. First up, @ProfFionasm presents her joint paper with @publicknowledge's Gene Kimmelman, Doug Melamed, @ArielEzrachi, Roberta Katz, and others.

@ProfFionasm @publicknowledge @ArielEzrachi Free is not a special zone where antitrust doesn't apply. Users barter with their data.
--@ProfFionasm #StiglerCompetition

@ProfFionasm @publicknowledge @ArielEzrachi Platforms fear disintermediation by a complementary product. This means they may act to reduce that threat by making thing harder for the complementary products that rely on their system today. --@ProfFionasm #StiglerCompetition

@ProfFionasm @publicknowledge @ArielEzrachi "Markets tip and economies of scale are large" in digital platforms, so even effective antitrust enforcement is unlikely to lead to truly fragmented, competitive markets. --@ProfFionasm #StiglerCompetition

@ProfFionasm @publicknowledge @ArielEzrachi Antitrust necessary looks backwards, so we need remedies that can restore the competition that was lost. Fines do not change market structure. Divestiture of an acquisition, of data, or behavioral requirements like interoperability, those can fix market structure. --@ProfFionasm

@ProfFionasm @publicknowledge @ArielEzrachi But changing the antitrust laws through litigation will take decades, so let's look at legislative solutions. --@ProfFionasm

@ProfFionasm @publicknowledge @ArielEzrachi We recommend a new Digital Authority. It could review mergers under a different standard, create data portability, institute interoperability systems, etc. --@ProfFionasm #StiglerCompetition

@ProfFionasm @publicknowledge @ArielEzrachi And further regulations are appropriate for companies with bottleneck power. #StiglerCompetition

@ProfFionasm @publicknowledge @ArielEzrachi Next up, a response from @matthewstoller. He says it's an excellent report with a lot of helpful information. I agree! Everyone should read it! I'll have the link to share this afternoon. #StiglerCompetition

@ProfFionasm @publicknowledge @ArielEzrachi @matthewstoller These companies are creatures of public policy. We created them by failing to enforce merger policy. --@matthewstoller

@ProfFionasm @publicknowledge @ArielEzrachi @matthewstoller .@matthewstoller says he does not believe a new regulator is needed, he argues the FTC already has the authority it needs to regulate platforms. I disagree. #StiglerCompetition

@ProfFionasm @publicknowledge @ArielEzrachi @matthewstoller Fascinating point by Randy Picker, individual data portability isn't nearly as important as coordinated portability. ReverseAuction.com scraped seller reputation data from eBay to make switching easier for sellers, but FTC blocked it. #StiglerCompetition

@ProfFionasm @publicknowledge @ArielEzrachi @matthewstoller Asked about harms, @ProfFionasm, "The way you find out about harms is you open an investigation." Also lists: kill zones, content that harms viewers, large persistent profits w/o entry. @matthewstoller adds genocide in Myanmar & decline of local news. #StiglerCompetition

@ProfFionasm @publicknowledge @ArielEzrachi @matthewstoller So many great points per minute, I can't keep up! Hope you're watching the live stream! #StiglerCompetition

@ProfFionasm @publicknowledge @ArielEzrachi @matthewstoller A good question from the audience, Facebook and Google are opt-in services, I don't need to use them, so why regulate? @ArielEzrachi says, you don't have to fly, but we regulate airlines. #StiglerCompetition 1/2

@ProfFionasm @publicknowledge @ArielEzrachi @matthewstoller More answers to that question: @ProfFionasm also, these services are actually more necessary to participate in modern society than you think. @matthewstoller adds that to publishers, participation feels even more necessary. #StiglerCompetition

@ProfFionasm @publicknowledge @ArielEzrachi @matthewstoller Now a panel on the recent reports in Europe, the UK and EU digital competition reports. I wrote a short post on the UK report when it came out: publicknowledge.org/news-blog/blog… #StiglerCompetition

You can also read both reports: gov.uk/government/pub… and ec.europa.eu/competition/pu… #StiglerCompetition

Tying (requiring consumers to buy two or more products together, or pricing so that's the only thing practical) can be used to prevent a complementary product from becoming a competitor to the monopoly product. Important economic point by Dennis Carlton. #StiglerCompetition

Allana Rutherford makes a point I hear a lot: Amazon is just a retailer, like a grocery store. No, it's not. Amazon is a *marketplace* that allows many retailers to sell. It's one of those retailers too, but it also owns the marketplace. Important distinction. #StiglerCompetition

.@tylercowen cites FB Senate hearing as evidence a regulator can't work on tech. In fact, it shows why a regulator is needed. A sector-specific regulator can build expertise on this complex technical industry. Congress (and the FTC) has to cover everything. #StiglerCompetition

I like @superwuster's framing: Antitrust enforcement and competition is a very American economic and industrial policy. And it has worked when we have done it. We don't do the "national champions" thing, and that's good. #StiglerCompetition

In countries where Facebook is the only free internet, they can't use the internet to verify the truth of messages they receive on Whatsapp. Even when internet is broadly available, a lot of good sources of information have pay walls, says @cward1e #StiglerCompetition

If we just think about antitrust as an answer, are smaller players going to do a better job of curating their products to manage misinformation, asks @cward1e. Great presentation! #StiglerCompetition

@cward1e Barry Lynn talks about the importance of state AG antitrust enforcement. Says the Microsoft case originated in the states. #StiglerCompetition

Great audience question from @MauriceStucke: what has been the impact of the Citizens United decision on our political system, and how does that relate to these concerns about political information on digital platforms. #StiglerCompetition

@MauriceStucke Glad to hear @ChrisHughes endorse a Digital Authority. He says breaking up Facebook is not enough. Need a regulatory authority, either within an existing agency or a new agency. 👀 @haroldfeld & #DigitalPlatformAct #StiglerCompetition

.@ChrisHughes says at the #StiglerCompetition conference that Facebook has so thoroughly integrated WhatsApp and Instagram into it's back end systems that it makes a break up more difficult.