Federal Trade Commission Chair Lina Khan has gone after some of the biggest companies in the U.S. Under President Biden, the FTC has cracked down on big companies they say are hurting consumers.
As the youngest ever Federal Trade Commission chair, Lina Khan has taken on scores of companies and preached the perils of business monopolies. Her pursuit of big business represents a policy shift after a decades-long FTC hands-off approach allowing most mergers and acquisitions. Under President Biden, however, the FTC and Justice Department have unleashed a crackdown and sued scores of big companies, including TicketMaster, Nvidia, Meta, Microsoft, Apple and Amazon.
Khan and the FTC have blocked, or tried to block, a number of Silicon Valley's big companies from buying smaller companies. 'In the technology markets, we went through a couple of decades where we saw over 800 acquisitions by the five big players, not a single one of which was blocked. And some of those we realize ended up leading to significant harm,' Khan said.
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