The president devoted part of his State of the Union address to calling on Congress to rein in Big Tech. “Capitalism without competition is not capitalism. It’s extortion. It’s exploitation,” he said.
February 09, 2023 at 03:35 PM
4 minute read
What You Need to Know
- Biden wants Congress to pass antitrust legislation targeting Big Tech.
- Meanwhile, antitrust regulators—including the United Kingdom’s Competition and Markets Authority—are getting tougher.
- This was the first State of the Union to mention antitrust since 1979.
Tech company attorneys might have thought they could tune out their work for the day by the time they plopped down to watch President Joe Biden’s State of the Union speech on Tuesday.
No such luck.
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