(Illustration/Dado Ruvic/Reuters) Prioritizing competitors over competition represents a serious misunderstanding of what our antitrust laws are meant to do.
Antitrust law is supposed to protect competition, not individual competitors.
It’s no secret that Big Tech is attracting antitrust scrutiny around the world. Regulators are ready to break up and restructure prominent companies such as Google, Amazon, and Facebook over what they deem to be monopolistic behavior. But their approach appears to reveal a warped understanding of antitrust itself, focusing on size and competitors rather than on consumers. As a result, current tech-related antitrust actions intend to use regulation as a device to redistribute power and profit.
Over the past few weeks, antitrust regulators in India, South Korea, the United Kingdom, and especially the United States have levied strong accusations against the world’s largest technology companies. More often than not, their complaints always seem to come back to the profitability of small or local competitors, who have less market share because of the so-called gatekeepers. Even though 120 countries have different versions of antitrust law, the welfare of small businesses and individual competitors has emerged as a primary, if badly misguided concept of what antitrust should