Tim Wu (@superwuster) is an acclaimed author, policy advocate, professor at Columbia Law School and contributing writer for The New York Times. In his latest book The Curse of Bigness: Antitrust in the New Gilded Age he explains how extreme concentrations of industry and wealth inhibit innovation, radicalize politics and can even threaten democracy itself. He discusses our current situation and how reviving the tradition of vigilant corporate Antitrust enforcement can help.
In this week’s episode, Professor Tim Wu and host Ian Connett (@QuantumJurist) explain how we arrived at the New Gilded Age, why “trust-busting” actually fuels tech innovation cycles, the economic heroism of Louis Brandeis (aka the original start up business lawyer) and why Big Tech is almost certainly in for a big break up.
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Show Notes
- How we arrived at the New Gilded Age – unprecedented levels of industry concentration across multiple industries.
- Correlating industry concentration to political polarization.
- How Tim’s tenure in Obama White House sparked an interest in Antitrust – observing increasing wealth concentration like a growing “hole in ozone lawyer.”
- Why you cannot see, but most certainly feel the ill effects of weak enforcement.
- The legacy of Louis Brandeis and his vision of an America filled with thriving small businesses designed to help human beings reached their fullest potential.
- Louis Brandeis as the original “start up” business lawyer.
- On building churches – the churches of Rockefeller and Big Tech.
- Teddy Roosevelt as “octopus hunter” – the trust-buster made flesh!
- Dissecting The Sherman Act – a broad law.
- Being big vs. being “big and bad.” The crucial question of Antitrust enforcement.
- On the possibility of gentle giants. Microsoft of the 90s vs. Microsoft of today.
- How Robert Bork helped bork Antitrust enforcement during the Reagan years. How that spurred the New Gilded Age.
- Why Big Tech is ripe for renewed Antitrust enforcement. Why large tech firms were given a 20 year pass.
- On the fear of “killing the golden goose in the cradle.”
- Facebook – the emblem of The Curse of Bigness?
- How corporate breakups can actually fuel healthy, technological innovation cycles. See Standard Oil and AT&T.
- Why Anti-Trust is not Anti-Tech.
- How to get a copy of “The Curse of Bigness: Antitrust in the New Gilded Age” by Tim Wu.
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