The news: The US Department of Justice is advocating legislation that stops Big Tech companies like Google and Amazon from unfairly giving preferential treatment to their own products, per Bloomberg.
Why it’s worth watching: The American Innovation and Choice Online Act, proposed by a bipartisan group of senators led by Sen. Amy Klobuchar (D-Minn.), could provide the necessary parameters to better regulate Big Tech platforms.
Key players: President Biden has installed Big Tech critics in top positions to better facilitate regulation.
What’s next: The DOJ’s endorsement is the first time the Biden administration is backing a piece of legislation that could regulate Big Tech companies, a move that might indicate more concrete or unified regulations are around the corner.
The big takeaway: Bills like the American Innovation and Choice Online Act can help guide and define the parameters for legislation. The bill still has to undergo various revisions before its final form can be passed. Expect a prolonged and complicated antitrust battle as Big Tech rallies to counter the legislation.
What’s the catch? A lengthy legislation process and heightened lobbying could outlast the tenure of antitrust critics.
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