Free Press & Platform Monopolies

Online intermediaries have emerged as the railroad monopolies of the 21st century, controlling access to market and increasingly determining who wins and who loses in today’s economy. Their dominance drives inequality and afflicts citizens and business-owners in all corners of American society.

Facebook needs more than a $5 billion fine. It needs a new business model

Date Published: July 25, 2019

Open Markets Director of Enforcement Strategy Sally Hubbard published an op-ed on CNN Business on the Federal Trade Commission’s $5 billion settlement with Facebook and asserts that the company needs a new business model. “Instead of fines, changing destructive business models and anticompetitive practices is the only way to lessen the platforms’ harms,” Hubbard writes. “These fixes fall into four main buckets, spelling out the acronym PAIN: privacy, antitrust, interoperability and non-discrimination.”

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Yahoo! News: People ‘have no clue’ how much data Facebook and Google collect, antitrust advocate says

Date Published: July 10, 2019

Open Markets Director of Enforcement Strategy talks to Jon Ward, host of Yahoo’s Long Game Podcast on the case for regulating Facebook and Google. “The amount of data that Facebook and Google are collecting about the average person is absolutely insane, massive, widespread, ubiquitous, and I think honestly, a fraud on the American people that the people don’t understand that this is happening,” said Hubbard.

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CBC: Bank of Facebook: A financial analyst says the Libra is ‘an absurd idea’

Date Published: June 21, 2019

CBC News speaks with Open Markets Senior Fellow Matt Stoller about Facebook’s new proposal to launch Libra, a new digital currency. He says Facebook’s proposed global currency would give it the financial powers of a sovereign state and undermine democratic institutions. “It’s an absurd idea to create a global currency system managed by a private group of people. I can’t tell you how ridiculous it is,” he told CBC.

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In America today, wealth and political power are more concentrated than at any point in our country’s history.

The Open Markets Institute, formerly the Open Markets program at New America, was founded to protect liberty and democracy from these extreme -- and growing -- concentrations of private power.

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