1. Hello. Today, the FTC dealt a likely death blow to the largest attempted grocery merger in history: Kroger's takeover of Albertsons.

The deal is obviously bad. but the case also shows the FTC under Lina Khan has learned, improved, and is finally doing what Congress intended. 2. Here's the FTC's statement about the lawsuit for those who haven't seen it. I haven't seen a lawsuit yet but it's out there somewhere.

ftc.gov/news-events/ne…

1. Hello. Today, the US government sued to stop Amazon’s monopoly over online retail. It’s an unprecedented triumph for the small business owners, workers and shoppers who Amazon has dominated, abused and ripped off for years.

Let’s talk about what this means for us. 2. First of all, here’s the Federal Trade Commission’s lawsuit. It’s a detailed document, explaining how Amazon used its online retail monopoly to bankrupt small sellers and rip off consumers. It is, very likely, the most important monopoly lawsuit ever. assets.bwbx.io/documents/user…

1. Hello. Today, the federal antitrust agencies have issued a new rulebook for corporate mergers - likely ending decades of unchecked corporate deals that let monopoly power grow.

This is a monumental day. Let’s unpack our new rulebook, and what it means for the economy. 2. The story of these new merger guidelines begins with the story of a coup.

It was 1982, and the Reagan administration was bent on undermining and erasing our strong antitrust laws. But it couldn't convince Congress to do so. So it set about killing the law on its own.

1. Hello. Dollar stores are an invasive species - multiplying out of control and suffocating local ecosystems. In a new report, we show how they harm communities, the tactics they use to crush small shops - and how policymakers can help. A big thread.

cdn.ilsr.org/wp-content/upl… 2. It’s hard to comprehend how quickly and aggressively dollar stores have spread throughout the country.
Today the two dollar store chains operate more stores than all the McDonalds, Starbucks, Walmart and Target stores combined.

It’s unprecedented.

1. Hello. For years, the tabletop role playing game Dungeons & Dragons has become massively popular, largely because of fans developing their own content, characters and storylines. But now, monopoly power is coming to crush these user-created worlds - and its rivals.

A thread. 2. D&D is super popular. An estimated 50 million people worldwide play the game, where - if you’re not familiar - players create characters and take them on adventures in a fictional, fantasy world.

Our story, then, revolves around who can create those worlds - and who profits.

1. Yes, banning corporations' ability to use non-compete clauses that handcuff workers to their jobs will go a long way towards raising wages for working families.

It will also create fairness throughout the economy - especially for small and new businesses. A quick thread.

https://twitter.com/FTC/status/1611015531921915908

2. The FTC says banning non-compete clauses would raise wages by $300 billion a year, and I think that's right.

We know that the core effect of non-compete contracts is to stop workers from leaving their jobs for better pay and opportunities.

papers.ssrn.com/sol3/papers.cf…

1. Hello. Last week, Kroger announced it would merge with Albertsons, creating a supermarket monopoly. The companies made some promises, hoping to calm anxious antitrust regulators.

They’re the same falsehoods companies always tell to try to get deals done. Let’s unpack them. 2. First of all, this deal is, on its face, dangerous and exactly what the antitrust laws were intended to prevent. It would combine the first and fourth-largest supermarket chains in the country, and leave just two mega-companies - Kroger and Walmart - to dominate groceries.

1. Hello. Amazon today announced it would pay $1.7 billion to acquire iRobot, the company behind the Roomba robotic vacuum.

It may be the most dangerous, threatening acquisition in the company's history. A thread. 2. The first thing about this deal is that Roombas are very popular. There are more than 40 million of the robots in peoples' homes.

For many, they've become an omnipresent and seemingly permanent part of our lives. No one wants to go back to pushing a vacuum around!

1. Hello. The FTC today sued Facebook to stop it from buying Within, a virtual reality company that Meta competes with head-to-head.

The lawsuit shows that under the leadership of Lina Khan, the FTC is learning its lessons. A quick thread. 2. The quick background: Facebook already dominates virtual reality.

Its Oculus headset made up 75% of all VR headset shipments in Q1 2021. Its dominant headset means its app store is also the main way developers access customers, and vice versa.

This wasn't by accident.

1. Hello. To fend off antitrust bills that would stop their monopoly abuses, Amazon and other big tech cos have told Congress: It is us, actually, who are the real champions of small business.

A remarkable day yesterday should put those lies to rest forever. A thread. 2. Big Tech says small businesses like and support them, and don't want new laws to regulate them. Yesterday, three blockbuster reports exposed those lies for what they are: whole-cloth fabrications intended to preserve their power to continue fleecing small biz as they wish.

1. I'm still trying to wrap my mind around this, but, as someone who is deeply cynical of consolidation, here are some quick reactions to Epic Games buying Bandcamp.

https://twitter.com/Bandcamp/status/1499068917947510788

2. As always, my primary concern here is with the independence and finances of artists and their labels. Bandcamp isn't perfect, but so far it has been a noble and sometimes successful attempt at recreating the brick and mortar record store online. It's too important to lose.

Biden SOTU moves onto competition problems. Calls out meat packers and ocean shipping. Folks! He’s announcing a crackdown. That was it apparently.

1. Hello. Today, the Sen. Judiciary Committee will vote on The American Innovation and Choice Online Act to ban big tech companies from favoring their own products and discriminating against rivals at the expense of small biz and the economy. Watch here:

judiciary.senate.gov/meetings/01/14… 2. This bill would help end the conflicts that make up the main business model of the Big Tech companies. Google pushing its own products to the top of search, Amazon favoring its products and shipping; that would end.

It's a crucial step in the fight against monopoly.

1. Hello. There’s a housing crisis in the US, especially for BIPOC renters and would-be homebuyers. This is because of two problems: There aren’t enough new homes being built, and BIPOC folks can't get credit.

They have a common cause: Extreme corporate concentration. A thread. 2. The first problem, the housing shortage, is well documented - and it’s not going away. Since the 2008 financial crisis, homebuilding has slowed dramatically. Today, there’s what’s called an “underbuilding gap” of nearly 7 million homes.

nar.realtor/newsroom/once-…

1. Hello. For 40 years, our economic regulators told us big corporations were not necessarily bad, and corporate industrial power was actually good for regular folks.

We’ve known that was wrong. Regular folks aren’t better off. But now we have data to back it up. A thread. 2. The data shows that, since the 1950s, the amount of wealth dominant companies take from shoppers, workers and the rest of us has grown by two orders of magnitude. That money leaves our wallets and our paychecks and ends up in the bank accounts of executives and shareholders.

1. Lately there have been two parallel thoughts on how to reform how we police mergers in the US: We should stop mega-mergers, and we should stop monopolies from acquiring any smaller rivals. There are good reasons to do both.

Ok, let’s talk about beer! 2. When I wrote about monopoly power in the beer industry last year, I touched on mergers a bit. But it’s important to understand exactly how both mega-mergers and small acquisitions have built and sustained monopoly power in the industry.

slate.com/business/2020/…

1. I saw a statement from @RepLouCorrea today that I think precisely captures how folks have come to believe monopoly power is benevolent and to just accept our reliance on it.

As Congress prepares to vote on a bill to break up big tech, let's unpack this. A thread. @RepLouCorrea 2. Here's @RepLouCorrea's statement: "In my district, small businesses depend on services provided by the tech companies. Amazon has opened a distribution center and is looking to open a few more. These are good paying jobs with benefits."

Ok. Let's start at the top.

Swalwell agreeing with Issa - all tech talking points - that we have to lower the market cap thresholds to have real interoperability. Rep. Massie makes a strange point that the wealthiest companies in American are going so fast that they're all going to be above the $600 billion market cap threshold soon enough! What a cool argument.

The big tech antitrust bill markup starts in 10 minutes. Here's the link, and this is the thread. Let's party.

As we wait for the hearing to start, watch this and get hype. Breaking monopoly power starts today.

1. Hello. On Wednesday, the House Judiciary Committee will vote on bills that would rein in big tech monopolies and democratize industries far outside of tech - including breaking up Amazon to end it’s self-dealing and predation.

Let's sort out myths from facts.

A thread. 2. The groups supporting and opposing the bills could not be more different.

Supporters include labor unions, in solidarity with abused and mistreated Amazon workers. They include main street business alliances, whose members face peril because of Amazon’s predatory practices.

1. Last week, @stacyfmitchell @SusanRHolmberg
@kennedysmith
and I detailed what the Biden admin and fed policymakers must do if small businesses are to recover from the Covid crisis.

ilsr.org/rebuilding-sma… @stacyfmitchell @SusanRHolmberg @kennedysmith 2. The recommendations are crucial, because a small business recovery requires an entirely different set of economic values and policies.