While Lina Khan has started her new role at the FTC and begun to appoint people to see through her agenda, Congress, or at least the House committee responsible, has allowed six anti-trust measures to proceed to the next stage.
Meanwhile, Apple faced a full-frontal assault on its app store economics from none other than Microsoft. Launching a preview of Windows 11, the old, but the new, company said that developers could build their own commerce engines into apps and pay Microsoft nothing for distribution in its app store.
At the same time, Amazon took a swing at Google’s new FLoC technology for tracking us all and said they would not be using it. Of course, Apple is hard at work blocking Google too. If these were swings to the face then Brave’s announcement of a new search engine, built into its popular browser, was a kick in the core of Google’s crown jewel.
While the policy world is debating regulating big tech, tech is doing a great job of competing for the future at the expense of incumbents. The market is clearly a far more rigorous and onerous opponent of the status quo than any government could possibly be. Especially a government led by dogma to characterize as monopolistic a failing last-generation business model.
Take Google. It is accused of monopolizing the ad-tech business. Really? What % of that market does it have? Is it declining or growing? Facts do matter. Google has been seeing a falling share of digital advertising for many years now as Facebook and Amazon have taken significant share away from it. Google is no monopoly. Listen to the analysts on the earnings calls ask about the declining cost per click rates.
Silicon Valley needs to oppose Lina Khan and the six bills and instead invest in startups that can build and win the future.
Lots of news on that this week. Andreessen Horowitz’s $2.2bn crypto third fund, several multi-billion dollar IPOs, creator economy investments reached $2 bn while Twitter added paid tickets to Spaces, its clubhouse competitor.
Is this the time to try to contain the last generation or is it time to build the next?
More in this week’s video