Thread by @CharlottesWWWeb

Starting soon: Senate #Antitrust Subcommittee talks hugely important priority: antitrust reform! Sen @AmyKlobuchar 's antitrust reform bill will make it easier to bring and to win antitrust cases including break ups! judiciary.senate.gov/meetings/compe…

@amyklobuchar Klobuchar on "gatekeeper" platforms: Google can use it's leverage to hold companies hostage. If there was greater competition, you would see companies that would come up with innovations that would solve some of the problems with the platforms that we see today. #antitrustreform

This Zuckerberg email is *so* illustrative! He said these competitors are nascent, but they could be very disruptive to us. @amyklobuchar points out, "disruptive" is a *good* word! We *want* disruptive competition. "We need to reply to those emails." She says. "With legislation."

@amyklobuchar Increasing the budgets of antitrust enforcement agencies should be an easy layup for the new Congress & President. It's so obviously needed and should be bipartisan. Klobuchar says she has @GrassleyPress on board with one way to do it. #AntitrustReform

Here's the part I'm concerned about: would letting news companies collectively negotiate actually support the small local journalism that people trust most? I think we need more antitrust enforcement, not less. #AntitrustReform

Now @SenMikeLee is up. Not focusing on antitrust yet, currently talking about education reform and school vouchers. #AntitrustReform

Lee reminds us of his top priority for a long time: trimming down antitrust enforcement across the government by having it done by only one agency. In particular today he says FCC's merger authority should go. That's a bad idea. #AntitrustReform

I really bristle at this "aesthetic preferences" argument. There are real benefits to allowing small businesses to thrive. It's not about wealthy people shopping at a boutique. It's about being able to start a business and have it thrive w/o asking gatekeepers for permission.

George Slover from @CRAdvocacy is the first witness. So many great points about how we need to make antitrust law more effective. When the link is up you should go and read it. #AntitrustReform

@CRAdvocacy He specifies cases that have narrowed the law, as well as bigger problems like counting efficiencies that don't actually help consumers. #AntitrustReform

@CRAdvocacy Next witness @andashleysays from the conservative angle, also concerned about the power of #BigTech, but not presenting many solutions to address those problems so far. More money for agencies is important but we can't stop there. #AntitrustReform

@CRAdvocacy @andashleysays Agree with Baker that "antitrust is one tool in a larger toolkit," but does the Committee for Justice support any other tools? #AntitrustReform

I love the way @barryclynn from @openmarkets speaks! Such a compelling description of the problem we face from monopolists misbehaving. Monopolists choke off innovation, drive down wages, and drive up prices. #AntitrustReform

@barryclynn @openmarkets He highlights the key lawsuits against Google and Facebook. Such widespread agreement across states and the federal government that the power of these platforms is a problem and government needs to act to address it. #AntitrustReform

@barryclynn @openmarkets Barry Lynn: Our goal is not merely to address the most pressing threats, but to "relearn how to dream." Yes! #AntitrustReform

@barryclynn @openmarkets I disagree with @jmrybnicek: The high win rate is because enforcers are very careful. Not because the law is fine. The agencies should actually have a lower win rate - they should work to improve the law by bringing hard cases. Might lose more but thats ok! #AntitrustReform

@barryclynn @openmarkets @jmrybnicek Great point by Nancy Rose from @MIT. More resources are not enough, Congress needs to act to reform the antitrust laws. #AntitrustReform

@barryclynn @openmarkets @jmrybnicek @MIT Expert antitrust economist Nancy Rose: Workers are also harmed by anticompetitive consolidation to which they sell their services. #AntitrustReform

@barryclynn @openmarkets @jmrybnicek @MIT Antitrust is fundamentally a deterrence tool, Rose says. And that deterrence hasn't been working. Also there's an excessive emphasis on econometric quantification of harm. 👏👏👏

Here's the link to watch the livestream now. I think this is also where they'll post the witness' written testimony afterwards, which I really think will be worth reading for this hearing!! judiciary.senate.gov/meetings/compe… #AntitrustReform

Rose points out "it's almost impossible" to bring a predatory conduct case today, "and that shouldn't be." #AntitrustReform

.@SenMikeLee asks if current law is sufficient to address the problems of monopolists in our economy today. Wish he'd give some other witnesses a chance to give the right answer: a resounding NO! #AntitrustReform

Great point by Professor Rose, in vertical merger cases, judges may find it easier to understand documents and witnesses than economic analysis. I think this means enforcers should try bringing some of those cases w/o expensive economic experts. #Antitrust

.@SenBlumenthal highlights the FAIR Act, an important bill that addresses forced arbitration. And addressing indirect purchaser cases: this can be important when dealing with app stores as in Apple v. Pepper. #Antitrust

@SenBlumenthal Next he's talking #interoperability! Google & Facebook have built anticompetitive moats around their products. "We need interoperability requirements to break down the walls." The ACCESS Act would require large tech co's like FB and Google to offer interop. #Antitrust

@SenBlumenthal Do witnesses support interoperability? @CRAdvocacy "it's essential." Consumers need to be able to choose a new platform w/o losing all their friends. #Antitrust

@SenBlumenthal @CRAdvocacy Appreciate @andashleysays pointing out the difference between portability and interoperability. My take: Interoperability goes farther and is much more effective. Just portability would definitely not be enough. #Antitrust

@SenBlumenthal @CRAdvocacy @andashleysays Rose: Competition is gonna have a tough time if we can't find a way to make entrants more viable, and interoperability might be a very powerful way to improve competition.

@SenBlumenthal @CRAdvocacy @andashleysays Lynn says @openmarkets strongly supports interoperability, but the caveat is interoperability alone will not do it. We also need non-discrimination and addressing the structure of the market. Blumenthal (and me!) agree that interoperability shouldn't be the only tool. #Antitrust

@SenBlumenthal @CRAdvocacy @andashleysays @openmarkets I also want to expand on Prof. Rose's point about number portability. A good example, but it's a closer analog to data portability than to interoperability for platforms today. The better analogy for interop is how we can call across cell networks. Both are important! #Antitrust

Congratulations to *Chairwoman* @amyklobuchar on a great first hearing for the subcommittee. I highly recommend you check out the written testimony from the experts on the panel which is now available here: judiciary.senate.gov/meetings/compe… #AntitrustReform #Antitrust #StopMonopolies