Political pressures and legal risks for dominant tech platforms have escalated. The hectic and chaotic final days of the Trump Administration spotlighted the power of social media to incite and galvanize extremist conduct, solidifying a political consensus to reform or repeal a statutory liability shield that insulates social media platforms from civil liability (Section 230 of the Communications Decency Act).
Meanwhile, the Justice Department and state attorneys general have filed antitrust lawsuits against Google. The Federal Trade Commission and state attorneys general have also sued Facebook under the antitrust laws. Epic Games, the creator of Fortnite, accuses Apple of illegal monopolization of its app store and now Facebook could join the fight. Meanwhile, Democrats, now with narrow control of both houses of Congress, support legislation to modify antitrust laws, particularly as part of an overall effort to rein in big tech. In the weeks ahead, President Biden will nominate regulators to key posts that could commence new battles against an increasingly beleaguered tech industry.
Please join Head of Macro Policy at Hedgeye, JT Taylor, and Paul Glenchur as they focus on these regulatory, judicial and legislative risks, possible timing of action and underappreciated threats to the tech leaders.
Today, FEBRUARY 4, 2021 12:30 PM ET
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Glenchur is Hedgeye’s Telecom and Media policy and legal analyst. A member of the Federal Communications Bar, he served at the FCC and in private practice. He is also a member of the Supreme Court Bar, the ABA Section on Antitrust Law and was a judicial law clerk in the U.S. Court of Appeals for the Ninth Circuit. In recent high profile cases, he correctly predicted: that the Supreme Court would reject Apple’s attempt to bar private antitrust claims (Apple v. Pepper), that a New York federal court would reject state AG efforts to block the T-Mobile/Sprint merger, and that the DOJ would fail in its effort to block the AT&T/Time Warner deal.
