Antitrust & the Future of Big Tech

Thursday, March 3, 2022
Hoover Institution, Stanford University

The Hoover Institution Technology, Economics, and Governance Working Group invites you to a virtual discussion on Antitrust & the Future of Big Tech on Thursday, March 3, 2022 from 9:00 am - 10:00 am Pacific.

It’s no secret that the Biden administration and 117th Congress are targeting Big Tech. Lawmakers from both sides of the aisle are pursuing legislation that targets the market power amassed by companies including Amazon, Apple, Facebook, and Google. Leaders at the Federal Trade Commission (FTC) and the Department of Justice’s Antitrust Division–key enforcement agencies–are also aligned against Big Tech; the FTC is actively prosecuting a lawsuit against Facebook for monopoly behavior.

ABOUT THE SPEAKER
Joe Lonsdale is a technology entrepreneur and investor. He is the managing partner at 8VC, a US-based venture capital firm that manages several billion dollars in committed capital. He was an early institutional investor in many notable technology start-ups including Oculus (acq.FB), Guardant Health (NASDAQ: GH), Oscar (NYSE: OSCR), Illumio, Anduril, Wish (NASDAQ: WISH), JoyTunes, Blend (NASDAQ: BLND), Flexport, Joby Aviation (NASDAQ: JOBY), Cityblock, Orca Bio, Qualia, Synthego, RelateIQ (acq.CRM), and many others. Joe has been on the Forbes 100 Midas List since 2016 and was the youngest member included in 2016 and 2017, and ranked 18th in the world last year.

Before focusing on institutional investing, Joe co-founded Palantir (NASDAQ: PLTR) a global software company known for its work in defense and other industries, as well as for providing the platform to run the COVID-19 common operating picture for key decision makers in over 35 countries. After Palantir, he founded and remains as Chairman of both Addepar, which has over $3 trillion USD managed on its wealth management technology platform, and OpenGov, which provides software for over 2,000 municipalities and state agencies. More recently, he is also a co-founder of Affinity, Epirus, Resilience Bio, and other mission-driven technology companies, which he continues to create with his team out of the 8VC Build program. Joe began his career as an early executive at Clarium Capital, which he helped grow into a large global macro hedge fund. He also worked with PayPal while he attended Stanford.

[nmr]

THANK YOU ALL for tackling this subject.

[dirksquatthrust]

This young man Joe Lonsdale is an incredible person. He is obviously brilliant. Joe....if you can send me a message I would love to talk about what your thoughts are on investing today. I am now an old man that cant retire yet but i have some money that i can play with. I have donated to Hoover for many you all for all you have done!

[andrewlm]

Per the Grumpy Economist, Anti-Trust is about protecting the consumer from harm from business. Amazon (who I am no fan of) beating everyone by taking a loss does not constitute a harm to the customer. Breaking them up out of fear that they will begin setting prices in a way that harms the consumer in the future doesn’t seem reasonable. Now if they do start actually setting prices unfairly in the future then breaking them up certainly would be back on the table.

[dexterdextrow]

Look, not to be negative or dismissive or anything, but maybe it would've been prudent to bring along a lawyer who could have given some insight into possible legislative structure and measures?

And also elaborate on the current state of the laws. I'm no expert by any means, but when it comes to for example antitrust and monopoly laws there's already a consideration given to the probable harm to the consumer, which may well be relevant to the subject at hand. Right now these considerations are primarily financial, prehaps the scope could cover other aspects in regards to big tech and especially social media platforms.

[powertopeople]

All Canadians should be concerned about what he says around the 31 minute mark and onward.

[surajitgoswami]

Next time let's have the name of the persons clearly spelt out instead of a mumble. Do what is done by others at Hoover. You are an exception.

[judgeall]

The business judgement rule is sacred and the seminole check and balance is anti trust. The fact oddity is that is that the job of the executive branch, which is term limited where as the Congress and the Senate are not. One can only praise merger and acquisition as an extension of righteousness shareholder value, and whose value is paid for in every election cycle. Given the farce of fast paced litigation, perhaps the executive branch influence over anti trust should be curtailed?

[technoforever]

The movie, "Demolition Man" kind of foreshadowed this strategy when they show that Taco Bell was the only restaurant. lol Stepping outside the box, one can see that if there is only 'one' of anything then total control is the outcome. One store and delivery can be "turned off" for an individual or company, only one government and there is no where else you can go to be rid of it, only one grocery service (delivery is what they're advertising) then it too, can be turned off. It's a pattern where governments are giving themselves incredible power to control everything and everyone; to be able to say if you don't agree we can turn off your bank account, your heat, your food, your travel or your job. Get it. Amazon is no different or any other tech service. Amazon will be the one online service, while Walmart will be the one walk-in service. Eventually, all brands, stores and tech will be whittled down to only 'one'. There won't be Coke or Pepsi, it will be only one of them. Grocery stores used to have a myriad of choices of products, now it's the brand name or the no name. We are headed for the theorized New World Order and they're not hiding it any more. China's control system will become the norm for all. There will be one "Mark" that all will have to have in order to "buy and sell" and the system must be such that all can be one under the system and that it can be "turned off" without any alternative or choice. That is total control, life or death, agree or die.

[cd.cd.cd.cd-cd]

It's been quantified that its actually voices on the so called "right" that tend to flourish on these social platforms (particularly facebook)

[pavelkrstev]

Its nessecery base institutional structures within those trusts to been able to concurent with smaller partial innovators.

[JosephNine]

HOW ABOUT PLATFORMS THAT TAKE YOU'RE LEGAL RIGHT TO SPEECH AWAY,
OR FLAGGING A VIDEO THAT IT'S CONTENT'S ARE TOTALLY LEGAL, ?

[regbale]

He spoke about illumina regarding cancer detection (good) but it also can test for birth defects prenatal therefore more potential abortions (bad). Playing God mocks God.

[sislertx]

Mega tech should be forced ro at least OBEY THE CONSTITUTION