Competition in Digital Markets (Reading Group)

Last October, the House Judiciary Committee's Subcommittee on Antitrust, Commercial and Administrative Law released its long-awaited report "Investigation of Competition in Digital Markets." Following a 16-month investigation into the state of online competition, the 450-page report analyzed the market power of Facebook, Google, Amazon and Apple, and concluded that "online platforms' dominance carries significant costs. It has diminished consumer choice, eroded innovation and entrepreneurship in the U.S. economy, weakened the vibrancy of the free and diverse press, and undermined Americans' privacy." The report included recommendations on restoring competition in the digital economy and strengthening antitrust laws and enforcement. The new Congress and the new Administration are expected to continue this work and advance proposals to reform the market. This reading group will be devoted to an analysis of the state of online competition and potential remedies by studying the House report, as well as related actions and litigation. It will include deep dives into the specific allegations against Facebook, Google, Amazon and Apple, potential remedies as to each, and other potential reforms to further competition in digital markets. The reading group will meet every other week starting in week 1 (i.e., weeks 1, 3, 5, 7 and 9) on Thursdays from 5 PM to 7 PM. It does not require an antitrust background, just interest in gaining a deeper understanding of the issues. Grading (MP/R/F) will be based on attendance and class participation. Enrollment will be limited to 10 students, with consent of the instructor. To apply for this course, students should send a brief statement explaining their interest and relevant background, if any, to the instructor at tomrubin@stanford.edu. Applications are due by March 21, though earlier submissions are welcome. Elements used in grading: Attendance, Class Participation.