Biden Assembles a Tough Antitrust Team to Rein In Big Tech

President Biden, who named Big Tech critic Jonathan Kanter to lead the Justice Department’s antitrust division last week, has assembled a strong antitrust team to address concerns about the dominant strength and influence of major tech companies across industries including pharmaceuticals, agriculture, healthcare, commerce and finance. If confirmed by the Senate, Kanter will join the Federal Trade Commission’s chairperson Lina Khan, who is known for her work in antitrust and competition law, and Tim Wu, a long-time advocate of breaking up Big Tech who is now Biden’s special assistant for technology and competition policy. Continue reading Biden Assembles a Tough Antitrust Team to Rein In Big Tech

Big Five Tech Companies Dominate the Rise in Stock Market

The S&P 500 achieved record heights via the 37 percent rise in shares of the Big Five tech companies in the first seven months of 2020. Apple, Amazon, Alphabet, Microsoft and Facebook, the five largest publicly traded companies in the U.S., now account for 20 percent of the entire stock market’s total value. Meanwhile, according to Credit Suisse, all other stocks, fell a combined 6 percent. Apple’s valuation hit $2 trillion, the first U.S. company to do so, and only 21 weeks after its $1 trillion valuation. Continue reading Big Five Tech Companies Dominate the Rise in Stock Market