You're Probably Getting Screwed
Thank you Chair Khan
With the Biden Administration sunsetting, that means this is the last week that the Federal Trade Commission will have Lina Khan as their Chair. She’s the perfect example of when you put good people in good positions the government works for you!
Her focus on the working class, consumer protection and small businesses is a model for future government officials.
You can watch Chair Khan’s entire interview with the Wall Street Journal and with Offline.
YOU’RE PROBABLY (ALSO) GETTING SCREWED BY:
Food Monopolists
In the latest edition of Food & Power, Claire Kelloway writes that “Analysts Expect More Food Mergers in 2025.” One of the reasons for this is the expectation that Trump Administration antitrust enforcers will create an environment friendlier for industry dealmaking than the Biden Administration.
John Deere
Also in agriculture, A More Perfect Union reports on John Deere and its moves to slash union jobs in Iowa and move them to Mexico. This despite $10 billion in profit in 2023 and a $7 billion stock buyback plan.
Worth noting that Deere controls over half of the tractor market in North America and then extends that monopoly power into repair, where the company makes it very difficult and costly for farmers and independent technicians to fix these machines.
Big Tech
According to a new analysis by the Lawrence Berkeley National Laboratory data centers in the United States, which are heavily subsidized by state and local governments, used more than 211 billion gallons of water in 2024. That number is set to grow exponentially with the rise of artificial intelligence.
Big Tech Bros
You might have seen that billionaire Mark Zuckerberg went on Joe Rogan’s podcast to whine about the ways different governments are trying to finally hold Meta accountable and blaming DEI and COVID, not their monopoly power, as the reason the Biden Administration cracked down. Matt Stoller has a useful rundown of the actual reasons Zuckerberg is on the hot seat.
Still Big Tech Bros
Speaking of Meta, the company is deleting links to Pixelfed, a new competitor to Instagram. According to this report from 404 Media: “On Facebook the company is labeling links to Pixelfed.social as “spam” and deleting them immediately.”
Antitrust Exemptions
As the NFL postseason gets underway, a friendly reminder courtesy of New York Congressman Pat Ryan that an antitrust exemption specific to broadcasting gives sports leagues the ability to use exclusive deals to shut out competition and raise prices on fans.
SOME GOOD NEWS
Colorado Explores Strengthening Price Gouging Laws
Colorado State Representative Yara Zokaie has introduced legislation to strengthen Colorado’s price gouging law, citing a report from the FTC on how major grocers have raised prices on consumers. The bill is a reminder that although most states have laws prohibiting price gouging, there is plenty of room to strengthen them. So call your legislator!
CFPB Continues Working
The Consumer Financial Protection Bureau announced a new rule this week that would forbid fine print by financial institutions that censors speech or wipes away fundamental rights. The rule would also give states new authority to enforce rules against national banks.
Cracking Down on Housing Consolidation
Speaking of the states, New York Governor Kathy Hochul introduced a major housing proposal last week that includes reforms aimed at disincentivizing institutional investors (corporations and private equity firms) from buying up single-family housing.
BEFORE YOU GO
Before you go, I need two things from you: 1) if you like something, please share it on social media or the next time you have coffee with a friend. 2) Ideas, if you have any ideas for future newsletter content please comment below. Thank you.
Standing Tall for All,
J.D. Scholten