The Tech Giants Were Always Doomed

COMPETITION, NOT ANTITRUST ACTION, IS HUMBLING FACEBOOK, AMAZON, AND TWITTER.

- ELIZABETH NOLAN BROWN

IN 2017, A 27-year-old Yale Law School student published an article arguing that the online retailer Amazon had grown so large that federal regulators should treat it as inherently suspect. Amazon, the paper said, engaged in a wide variety of harmful anticompetitive practices. The article did not merely demand far greater federal over sight of the company; it called for a complete overhaul of how regulators approach antitrust, urging more frequent, more aggressive legal action founded on a generalized antagonism toward large companies and corporate mergers.

At the time, the view was relatively novel, with few adherents in government or the academy. But today that former student, now 34, leads the Federal Trade Commission (FTC), and both the agency specifically and the Biden administration more generally are pursuing a concrete version of her antagonistic agenda.

That student was Lina Khan, and her swift ascendance from young academic with a dream to bureaucrat with real power showcases some rapid political and intellectual shifts that have taken place over the last few years. Not only did Khan take command of a major regulatory agency, but the Biden administration found plum spots for fellow antitrust revisionists such as the Columbia Law School professor Tim Wu, who became special assistant to the president for technology and competition policy, and the attorney Jonathan Kanter, who was installed in the antitrust division of the Department of Justice (DOJ). Beyond the White House, politicians on both the left and the right have embraced versions of these theories—and called for applying them to a swath of increasingly large, increasingly successful technology companies.