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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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On Thursday the Senate Judiciary Committee will markup the American Innovation and Choice Online Act, proposed by Senators Amy Klobuchar (D-MN) and Chuck Grassley (R-IA).

  • The bill targets tech companies that operate platforms with significant commercial reach, or ‘covered platforms’. Among the criteria to define a ‘covered platform’ are: 50 million monthly active users, a market capitalisation greater that USD$550 billion, and being a ‘critical trading partner for the sale or provision of any product or service offered on or directly related to the online platform.’
  • This definition only implicates a handful of tech giants: Microsoft, Google, Twitter, Apple, Spotify and Amazon, all of whom have disclosed they are lobbying against the bill.
  • The goal of the bill is to stop big tech companies using their dominant platforms to preference their own products and services over other companies competing on their platforms.
  • There appears to be some level of bipartisan support for the bill and reproaching big tech could be a potential vote-winner in an election year.
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