The DOJ Asks Startup Investors: Are Tech Giants Too Powerful?
Whether the largest tech companies have too much power has become a common question in Washington, DC. The House Antitrust subcommittee and Federal Trade Commission both have active investigations on the topic. On Wednesday, the Department of Justice took the matter of big tech’s power and what—if anything—to do about it to the industry’s heart, in Silicon Valley.
The department’s antitrust division joined with Stanford Law School to host a day-long workshop on antitrust and venture capital at the campus that spawned many major tech companies, including Google. Makan Delrahim, assistant attorney general for antitrust, described it as a fact-finding mission. He wanted to know whether investors believe it’s likely or even possible for new entrants to disrupt dominant technology companies. “Are investors not willing to develop technology that challenges those platforms?” he asked.