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antitrust regulation ： restraining NEW commodity-induced monopolies (WHAT…
antitrust regulation ： restraining NEW commodity-induced monopolies
WHAT to regulate
A century ago
commodity：oil
monopolies：standard oil
Now
monopolies：Alphabet (Google’s parent company), Amazon, Apple, Facebook and Microsoft
commodity：data
Why to regulate
in the past，size alone :red_cross:
PASSING STANDARD TESTS
market share not that worrying with offline competitors
BENEFITING CUSTOMERS
free services
SUCCESSFUL NEW COMERS
snapchat
now ，too much power :check: :
what has changed
abundance of data
More value from data
AI tech
More data
volume increasing with more sources of data
with network effect
changes the nature of competition
now
barriers to entry:resources
unmatchable God’s eye view
early warning system
shoot-out aquisition
1 more item...
past : can be blindsided by
startup in a garage
1 more item...
unexpected technological shift
stifles competition
what is network effect
the more the users are, the more attractive the service is
how data work with network effect
extra network effect:the more the data is , the more knowledge service providers have to improve their products to attract even more users
HOW to regulate
past oil-age：broke monopolies up :red_cross:
network effect
radical rethinking :check:
antitrust authorities to change their creteira
now
data-based assessment; using aquisition price as an indicator
past
size-based assessment
loosen the grip that providers of online services have over data and give more control to those who supply them.
more transparency
government
mandate sharing of certain kinds of data
companies
When to regulate
entail risks
BUT needs to be done soon