Meta Platforms:Regulatory Environment: Difference between revisions

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 * The Microsoft case proved that the enforcement of the law does not kill innovation but instead allowed for more entrants later on (53:30)
 * Changing the conservative view on antitrust in the US will be an incremental fight. The current FTC leader is moving in the right direction by updating some policy guidelines and bringing some cases, though they will still win some and lose some (56:30).
-* '''While Congress could change the law to deal with these companies, this route is probably hopeless. So, the route currently remains the same as they took with Microsoft back then, but it is a very difficult fight to make and win since the due diligence needed is challenging for DOJ and FTC (they need good economics, good documents, good witnesses, good lawyering, etc)''' (56:00).
+* '''While Congress could change the law to deal with these companies, this route is probably hopeless. So, the route currently remains the same as they took with Microsoft back then, but it is a very difficult fight to make and win since the due diligence needed is challenging for DOJ and FTC (they need good economics, good documents, good witnesses, good lawyering, etc)''' (56:00)
 <u>Why the FTC Is Losing Against Big Tech: WSJ</u> <ref>https://www.youtube.com/watch?v=q0_0eiN53yM</ref>
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 * Frequent losses in antitrust cases could set a bad precedent, leading some lawyers to suggest the FTC should be more selective in the cases it brings forward.
 * Lina Khan is under investigation for her leadership style at the FTC, indicating internal disagreement with her approach.
+<u>American Antitrust Law: Where Are We, and Where Are We Going? (Antitrust Conference, Oct 2022)</u><ref>https://www.youtube.com/watch?v=N_g0fOFmeyk&t=1792s</ref>
+* '''The US operates under a law enforcement regime, not a regulatory one'''. Agencies are attempting to rewrite guidelines, hoping this will magically change the law and be immediately embraced by the courts. However, the '''challenge is that courts have long embraced the existing guidelines''' through an iterative process of case law development. It is unlikely that new policy guidelines will lead to overnight changes in legal processes or laws (18:30)
+* The problem with antitrust cases is that the '''law has become extremely demanding''', with very high expectations of economic precision and evidence, making it difficult to win even relatively straightforward cases (24:00).
+* Agency staffing has not kept pace with inflation, and '''headcounts are significantly lower than they were 20 years ago''' (26:00).
+* Change is difficult, and ramping up enforcement is much harder than ramping down. Lina Khan’s efforts are still in the very early stages and the changes proposed are disruptive for clients and practicing lawyers (50:30).
+* '''It is challenging to imagine we are at an inflection point for antitrust legislation change.''' Current criticisms of existing laws are still in their early stages. Compared to the 1970s, when similar changes were applied, the '''path ahead is much harder due to eg. how deeply ingrained the existing guidelines are in court decisions, or resistance to giving additional administration power.  (1:00:00).'''
+* '''Current legislative proposals have not been fully studied, raising concerns about the spillover effects of passing legislation primarily aimed at tech companies. These proposals also seem poorly vetted'''(1:10:00).
+* '''The FTC's case against Meta does not appear to be serious. There is significant resistance to challenging mergers from years ago, and it seems the FTC wants to lose the case to demonstrate to Congress the need for new laws or to revisit long-settled mergers''' (1:33:00).
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