Saturday, July 10, 2021

Biden Antitrust Executive Order Has Major Giveaway for Tech Giants

President Joe Biden on Friday signed a sweeping executive order that targets big tech mergers but includes a provision favored by most tech giants.

The order instructs the Federal Trade Commission to more closely monitor merger attempts by "Dominant internet platforms" and to restrict how tech companies can exploit users' personal information.

Tech giants like Facebook and Amazon support net neutrality because it bars internet providers from charging platforms based on their broadband use.

The order signals the Biden administration's confused approach to big tech regulation.

At the signing ceremony, the president called out big tech directly, describing the executive order as an effort to promote "Fair competition," one of the administration's priorities.

Politico reported that the executive order was shaped in part by Tim Wu, a professor now serving in the Biden administration as a special adviser on economic and tech policy.

The Information Technology and Innovation Foundation, a think tank that takes funding from big tech companies, said, "The White House is attempting to meddle into the work of federal antitrust agencies."

https://freebeacon.com/biden-administration/biden-antitrust-executive-order-has-major-giveaway-for-tech-giants/ 

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