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I think we’ve seen time and time again that when you have a company that has taken control of an important vein of commerce, that control can be exercised illegally. This is what partially revived the passage of antitrust laws, which Congress recognized that the dominance of railroads and control over the main arteries of commerce truly allowed these few companies to choose winners and losers in our economy to shape the innovation trajectory. .
These are the same kinds of principles that we think about, and it’s what fuels our work right now.
Instead of blocking or approving deals, you sent companies some letters saying that if they close their deals, they do so at the risk of your agency coming back to block them later. Should we expect you to reconsider closed deals?
The parties have 30 days after they apply to us to determine whether to conduct a deep investigation. Thirty days is an extremely short time when you have very large and very complex deals. And especially when there is some fluctuation in the merger applications we made last year, there will be cases where after 30 days our staff cannot faithfully reach a clear decision.
And in these cases, we’ve indicated that the parties are needed, that our investigation is ongoing, and that they shouldn’t see the passing of this expiration as somehow a sign that the FTC has approved the deal.
We retain our ability to challenge entitlements and completions after they happen. Our inaction never indicates that we approve of an agreement.
Can your work really rein in technology that often leaves rule-making and policy behind?The many studies we’ve done have really broadened the clarity of how we understand, recognize and diagnose harm. 10 years later, instead of recognizing a big problem and a big moment we missed, we try to really look ahead, anticipate problems, and act quickly.
I think it relies on paying attention to these next-generation technologies and next-generation innovations in emerging industries across sectors. These can really help us solve problems from the start.
What do you think of a recent survey of agency workers showing lower morale?
This is something I take incredibly seriously. I’ll say it as a general matter, you know, it’s an incredible moment of change at this agency, and we know that moments of change can be difficult.
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