Showing archive for: “Innovation & Entrepreneurship”
Big Tech but Bigger Ideas
As an academic working at the intersection of economics, law, and innovation, I was excited to see Nicolas Petit apply an interdisciplinary approach to investigate big tech in the digital economy. Working across law, business, and engineering has taught me the importance of bringing together different theoretical perspectives and mindsets to address complex issues. [RL1] Below ... Big Tech but Bigger Ideas
The Limits of Rivalry
I am left wondering, however, if he’s misdiagnosed the problem – or at least whether the cure he offers would be seen as sufficient by those most vocally asserting that antitrust is failing. And, of course, I recognize that his objective in writing this book is not to bring harmony to a deeply divided debate, ... The Limits of Rivalry
It’s Not So Simple Who Owns “Your” Data
What kind of regulation? Treating digital platforms like public utilities won’t work, Petit argues, because the product is multidimensional and competition takes place on multiple margins (the larger theme of the book): “there is a plausible chance that increased competition in digital markets will lead to a race to the bottom, in which price competition ... It’s Not So Simple Who Owns “Your” Data
Diversification Is At The Heart Of Competition
In his chapter 4, Petit lays out how this works with six of today’s large high-tech companies, adding Netflix to the usual Big Five of Amazon, Apple, Facebook, Google, and Microsoft. If I understand properly, what he means by “moligopoly” is that these large firms have their hands in many different relevant markets. Because they ... Diversification Is At The Heart Of Competition
Symposium on Big Tech and the Digital Economy: The Moligopoly Scenario
Confirmed Participants As in the past (see examples of previous TOTM blog symposia here), we’ve lined up an outstanding and diverse group of scholars to discuss these issues, including: Kelly Fayne, Antitrust Associate, Latham & Watkins Shane Greenstein, Professor of Business Administration; Co-chair of the HBS Digital Initiative, Harvard Business School Peter Klein, Professor of ... Symposium on Big Tech and the Digital Economy: The Moligopoly Scenario
Regulating Big Tech Will Hurt Small Business
The writing is on the wall for Big Tech: regulation is coming. At least, that is what the House Judiciary Committee’s report into competition in digital markets would like us to believe. The Subcommittee’s Majority members, led by Rhode Island’s Rep. David Cicilline, are calling for a complete overhaul of America’s antitrust and regulatory apparatus. ... Regulating Big Tech Will Hurt Small Business
The Deterioration of Appropriate Remedies in Patent Disputes
Property rights are a pillar of the free market. As Harold Demsetz famously argued, they spur specialization, investment and competition throughout the economy. And the same holds true for intellectual property rights (IPRs). However, despite the many social benefits that have been attributed to intellectual property protection, the past decades have witnessed the birth and ... The Deterioration of Appropriate Remedies in Patent Disputes
The Myth of the Cyber Barons
During last week’s antitrust hearing, Representative Jamie Raskin (D-Md.) provided a sound bite that served as a salvo: “In the 19th century we had the robber barons, in the 21st century we get the cyber barons.” But with sound bites, much like bumper stickers, there’s no room for nuance or scrutiny. The news media has ... The Myth of the Cyber Barons
Big Tech and the Parable of the Broken Window
A boy throws a brick through a bakeshop window. He flees and is never identified. The townspeople gather around the broken glass. “Well,” one of them says to the furious baker, “at least this will generate some business for the windowmaker!” A reasonable statement? Not really. Although it is indeed a good day for the ... Big Tech and the Parable of the Broken Window
The Furman Report is a Flimsy Basis for a New UK Competition Policy
Earlier this year the UK government announced it was adopting the main recommendations of the Furman Report into competition in digital markets and setting up a “Digital Markets Taskforce” to oversee those recommendations being put into practice. The Competition and Markets Authority’s digital advertising market study largely came to similar conclusions (indeed, in places it ... The Furman Report is a Flimsy Basis for a New UK Competition Policy
The Earn IT Act and the Institutional Limits of Congress
As the initial shock of the COVID quarantine wanes, the Techlash waxes again bringing with it a raft of renewed legislative proposals to take on Big Tech. Prominent among these is the EARN IT Act (the Act), a bipartisan proposal to create a new national commission responsible for proposing best practices designed to mitigate the ... The Earn IT Act and the Institutional Limits of Congress
The Negative Externalities of Protecting Privacy
The public policy community’s infatuation with digital privacy has grown by leaps and bounds since the enactment of GDPR and the CCPA, but COVID-19 may leave the most enduring mark on the actual direction that privacy policy takes. As the pandemic and associated lockdowns first began, there were interesting discussions cropping up about the inevitable ... The Negative Externalities of Protecting Privacy
