The Biden administration has hired Tim Wu for technology and competition policy in a move that many see as a threat to the monopoly of Big Tech such as Amazon, Facebook, Google, and Apple among others. Wu is well known for his hard stance on antitrust issues and often severely criticizes Big Tech for its anti-competitive activities.
Getting Wu to serve on the technology and competition division of the National Economic Council underscores the fact that the Biden government may enforce antitrust laws against monopolistic tech companies in the United States. His 2018 book, The Curse of Bigness: Antitrust in the New Gilded Age among other works of his pushes major technology organizations to be unbundled so that other rising companies can compete favorably against them.
Under the Obama administration, Wu coined the term “net neutrality” and generated debates surrounding the concept. The net neutrality concept underscores the notion that internet service companies should charge the same rates regardless of any kinds of online services utilized by consumers. The FCC established the net neutrality rule when Obama was president, but this was reversed when Trump got to power.
With the appointment of Wu, it is possible that the Biden administration will reinstate the net neutrality rule again. A lecturer of antitrust law at Columbia University, Wu had worked at the attorney general’s office in New York, the FTC, and NEC when Obama was in office.
White House Press Secretary, Jen Psaki, revealed that Wu’s appointment is a testament to the fact that President Joe Biden will not tolerate the excesses of major tech companies or any abuse of power stemming from their anti-competitive activities.
“Tim will help advance the president’s agenda which includes addressing the economic and social challenges posed by the growing power of tech platforms, promoting competition and addressing monopoly and market power issues, expanding access to broadband for low income and rural communities across the country,” Psaki said.
Chairperson of the Senate Judiciary subcommittee on antitrust, Amy Klobuchar, said the United States has tolerated economic and business monopoly for too long and that Wu’s appointment shows that the Biden administration will no longer condone nonsense from Big Tech. “I look forward to working with Tim to modernize antitrust enforcement, strengthen our economy, and protect workers and consumers,” she said.
“I think everyone’s steering way away from the monopolies, and I think it’s hurting innovation in the tech sector,” said Wu in an interview following the publication of his book on antitrust.
Representatives for major tech organizations are yet to respond to queries on the recent hire of Tim Wu and how his appointment or policies will impact them.
Source: cnbc.com