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Google, Facebook, Amazon And The Future Of Antitrust Laws

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U.S. antitrust law dates back to 1890, but it's been largely out of the spotlight for twenty years. Now, with antitrust concerns swirling around Big Tech companies and major telecommunications mergers, it's back. Watch this video to find out how US antitrust law evolved and what it means for America's biggest businesses. *** Correction *** This video incorrectly states John Newman's title and school. He's an associate professor of law at the University of Miami. » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC Google, Facebook, Amazon And The Future Of Antitrust Laws
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Text Comments (598)
Ally Hellkiller (3 days ago)
https://petitions.whitehouse.gov/petition/investigate-facebook-violation-anti-trust-laws
Biminda Lumotos (5 days ago)
Summit sa buwan Google trouble IMAP spam page Facebook live cyber satellite
Ozymandias (6 days ago)
MAGA
Zem Zem (6 days ago)
Look at internet service providers. Back when cable modems came out they were charging $19.95. One would think 22 years later the prices would remain the same or go down. I’m paying 50$ a month.
Zem Zem (6 days ago)
The government hasn’t kept up with Internet Commerce. They need to pass new laws regarding E-Commerce. The scary thing is there are non-e-commerce companies which are monopolies and nothing is being done. Look up Luxoticca and you will see what I mean. They own Lens Crafters, Ray-Ban, Sunglass Hut and Pearle Vision. They are an Italian company and dominate the market.
microesfera100 (6 days ago)
less regulations all be better
Azerty Qwerty (11 days ago)
Does CNBC videos are great! MSNBC is biased but the business Chanel of NBC is great!
Stacy Clarkson (20 days ago)
Ill take big corporations any day over big government!!!The corporations have to convince you to spend your money,big gov can reach any take it anytime they want!!
Mr. Teacher (21 days ago)
But Obama made it so easy to unionize by passing Card Check. Oh, wait, no, he did the exact opposite. Reason #1,282 why we got Trump.
Tell Me Something (21 days ago)
Now that China is hoping to compete with our... everything, the antitrust law comes up again.
sebatian (21 days ago)
NO!!!!!!!!!!! BIG GOVERNMENT IS THE REASON WHY THESE COMPANIES ARE MONOPOLIZING. ANTI-TRUST LAWS IS LITERALLY THE GOVERNMENT FIXING ITS OWN MISTAKE...WE SHOULD NOT REWARD CORRUPTION!!!!!!!!!!! GET RID OF BIG GOVERNMENT, GET MONEY OUT OF POLITICS!!!!!!!!!!!!!!!!!!
vl8962 (29 days ago)
Big corporations using governments to attack and destroy competitors.... A tale as old as time
Ali Abdul Rehman (30 days ago)
The sheer contradiction of CNBC making a video about Antitrust laws is astonishing. I am sure cooperate loved this lol.
Ben W (30 days ago)
Wages have stagnated since Reagan sold America to corporations.
Bailujen (1 month ago)
Come on Government why didn't you sue disney
Henk - (1 month ago)
Why does that woman sound like Nancy Pelosi?
A’Real Trucker (1 month ago)
Amazon just always under cut retail that’s why they are Huge now they just put the people first in some aspect
Richard Ramos (1 month ago)
How could it be a monopoly if there is Bing, Twitter and Ebay ?
Jackamomo (1 month ago)
If you like Windows 10 then antitrust is a bad idea.
Michael Harris (1 month ago)
If my education proves me right most of the technology that Bloomberg is using is being rented to him for advertising for the information of every company daam near on the stock market how is that information not under the goverments watchdog list the United States built the community not bloomberg is nothing more then a old dog tagging off the United States information clause and goverment backing to keep his company goverment connected is the only reason why Bloomberg business is even viable!!!!!
Michael Harris (1 month ago)
Capitalist need to pay for there demise and economist from pass who were all white not one economist has been black men how come in the finacial sector if Michael Bloomberg paid to get accurate information from the stock market and he paid for that then how come the stock market still crashed any way and Bloomberg lost what not a daam thing!!!!!
Michael Harris (1 month ago)
How come only Warren Buffett is the only white man who out right has a lot of American money because Warren Buffet opposite of Walmart buffett is a man who is not racist in the public but controllable his racist actions by taking over white owned racist companies that were bankrupt a long time ago now the computer is speeding up there demise like it should!!!!!!
Michael Harris (1 month ago)
And in fact everything that white presidents have touched all business wise went bankrupt and for good reason no black knowledge was ever allowed to participate even in business white men want blacks to do all the manual labor in management position is still the slave marking of slavery!!!!!
Michael Harris (1 month ago)
It doesn't matter weather Republican or Democratic Both parties have used blacks as a excuse to get free stuff just buy using racism to do it and immigrants and white people have been the phycological problem since the beginning white people in general think there race are the teachers to every other race is the problem!!!!!
Michael Harris (1 month ago)
Yathink these capitalist do not use the prison system business model use Federal lack luster laws forgotten for that matter or even mentioned!!! The fact that Walmart, Amazon, Costco, and any wear house or company the laws there using are the same business practices used to keep prisons full of customers while all the while Minipulating labor laws Minipulating immigration laws while using the laws as a core bullying dominating factor for human obedience please and the house, car, job are all the main pieces of services one can never get out of with out bankruptcy policies coming to dessimate you out the house all on a insurance claim that will collect the money lost because from the beginning failure Was The introduction for profits on losses unpaid taxes this is how cheapscating screws up the economy is full of lieng white skinned thieves is the problem!!!!!
Michael Harris (1 month ago)
Civil court will clear out so many of these racist immigrant coming here using civil rights using Human Rights using Equality for life women have been pushed around more for Equality but at a very dumb and uneducated level while using babies to be that disadvantaged to the women making desperation life choices cover up the out right racist domination while using houses, cars, jobs to establish there racist infringing on the lives of the children, mothers and teenagers all at the same time!!!!!
Michael Harris (1 month ago)
Racism has to be killed off by way of civil court racist fears from white people have to be killed off by way of civil court children being exploited sexually drug wise college exploited for a college degree that is tainted needs to be addressed by way of civil court seriously all these issues need to be handled by way of civil court period!!!!!!
Michael Harris (1 month ago)
White people ignore the fact that England did a lot of abuse to white skinned people and the white people have been obliged to deny that anything ever happen but when the subject of slavery and the hatred it brought out in human actions please! They love educating blacks how bad white people made it for them just do not want to pay!!!!!!!
Michael Harris (1 month ago)
The same thing for unions is what helped Americans have legal laws to protect them from out right extortion or out right bullying when white people get caught lieng, cheating were do white people go back to crooked old laws to define there ignorant racist agenda and blacks are the complaint because let's face it white on white cannot fight against each other because there is nothing but pure ignorant arguments going on there and no one is listening!!!!!!
Michael Harris (1 month ago)
Business have been using Wallstreet to lie, cheat, allow companies to qualify for business pattens that were cheap and we're monitored by the Lobbyist on the hill used the education against there own country!!!!!
Michael Harris (1 month ago)
I am very much educated since the 1960 on how white men, immigrants, all of come in to this country and used blacks civil rights laws and used slavery type racist laws to get total domination over the workers to think and act under obedience to the capitalist or risk getting fired risk loosing your home all the same crap the capitalist sells to its own customers while bankrupting them all at the same time!!!!
Michael Harris (1 month ago)
You name it white men have colonized Capatalizm while using racist slavery laws to ensure there survival all the while immigrants were included only because of being threatened with there citizenship that could not be used as a threat on any blacks men for that matter using welfare against black women for there compliance while throwing damage on the black mans character!!!!!!
Noneya Business (1 month ago)
Don't forget Uber and their violations
Moist Boner (1 month ago)
The way things are going, Amazon is going to own everything.
J BLAST (1 month ago)
With one will help the economy and bringing back the middle class that's the one would go with
mysi mysi (2 months ago)
Google and Amazon are extremely innovative and they create great value propositions for consumers.
mysi mysi (2 months ago)
"Monopolies brought Hitler to power" yeah sure not like it was the great depression and resentment after ww1 or anything
Steve N (2 months ago)
Woh! Did the news actually inform its audience for once?? Instead of just giving non fact based opinions. Pretty good
Clay wells (2 months ago)
Comcast is monopoly, but the big concern with big tech is their political power, which will bury us in the end. Without stopping them, we will no longer be the USA. We'd end up like some kind of weird high tech utopian society with many dead bodies buried in a forest somewhere.
Ancile (2 months ago)
Antitrust is when your spouse has an affair.
Dewa Debleng (2 months ago)
Noeteng takada 1 pun dari harga perusahaan ku perusahaan kami gurka psht becak lawu yg tidak dengan harga umum indonesa kecdolopo kab trengalek,kab pacitan,kab ponorogo,dengan tolerance &kespakatan awal&dgn penuh toleransi semisal biaya onkir transfer 1%terap 1%.dan dengan biaya sms,fek/tlp 1menit tetap 1 menit umr lokal 5 menit kerja /10 menit tlp 1jam umr lokal.kab_negara masing masing.&kec dolopo 99,99%penduduknya terutama pasar dolopo ji&alkaidah ,stk,desa stk.
Jack Braddell (2 months ago)
JP Morgan, us the role model on creating monopolies to Garner unfair profits. Monopolies have run free for quite some time by bribing politicians not to enforce existing anti-trust laws. Rich get Richer, at everyone else's expense. The American way !!!!
Jose Silva (2 months ago)
Disney?
Vinay Pai (2 months ago)
Too much of history in every CNBC videos. Better to emphasize more on current scenarios
vismortis (2 months ago)
Uh, fact check, as of Aug 2019 (and well before) there were NOT 3 major US drug stores, there are 2 Walgreens and CVS. Rite Aid was bought out by Walgreens and is well into the conversion/migration/shutdown of Rite Aid stores. The irony of this is CVS is actually the one that pry should be looked at as anti-trust/monopoly, they own the drug stores, a bit of the supply chain to the stores, they produce and sell gray labled CVS medications oh and they own the prescription drug company a large chunk of US citizens have (Care Mark, which many think means they can only go to CVS) They have so much power they can change what they buy common drugs at at the store level then change the insurance pay out at the store level since they own both to alter the price of a drug which harms Walgreens and independent drug stores (which CVS is pushing out fast). The only other major drug store would be Walmart and they operate in a different world, their pharmacy's operate at a loss across the board, and Walmart does not care, they use them as a loss leader to bring people into the store and it works well, Target used to be a competitor but their pharmacies are all now owned and operated by CVS
Janice Miller (2 months ago)
There should be strict laws and close monitoring on pricing and inflation.
Himanshu Shekhar (2 months ago)
Buyout of fox by Walt Disney should not been allowed Movies have been reduced to marvel films only
Jamie Arzola (2 months ago)
Leave the tech industry alone, y'all.
craigzilla100 (2 months ago)
Google and FB want complete control over the internet and Amazon wants complete control over e-commerce, and now housing company data with the addition of AWS. They are too big, but the problem is, nearly everyone uses them and have become reliant on them in their daily lives.. I know one thing, I'm switching away from Android phones as soon as I can.
Gauntletwielder (2 months ago)
The U.S. government is at least two decades late to the antitrust party. Microsoft engaged in blatant antitrust practices to elevate Windows to where it is today. Question: How did Microsoft do that? Answer: They coerced every PC manufacturer to include only Windows on new computers, and not other, competing operating systems. Even though there were better operating systems available back in those days, most consumers had the attitude of: “Why should I spend extra money to buy something that already came with my computer?” Windows has been crap since day 1. Don’t take my word for it, look at the history of infamous “Patch Tuesdays” This effectively squashed all competition to Windows. Textbook definition of antitrust. But no one in the government has been smart enough to do anything meaningful about it. FYI... a few years ago, NASA replaced all their Windows servers with Linux servers. The Windows servers failed to meet the literally mission critical standards required by NASA. Also back in the day, Microsoft routinely criticized NetWare, a much more stable network operating system whose file and printer sharing capabilities were infinitely more stable and faster than Windows. Windows won that battle. After NetWare eventually vanished, Microsoft quietly went about buying as many NetWare patents as they could. Why did Microsoft beat NetWare if NetWare was better and more stable?? Simple: network integrators, people who sell networks, would install a NetWare network once and that was usually it. Install NetWare and it works great. Then those same people starting selling Windows networks. Shortly afterwards, the network integrators had to keep going back to customer sites to resolve Windows problems. Every trip to a customer meant more income for the network integrators. Installing NetWare was usually a once and done profit. Installing Windows networks meant steady, repeat income. So Windows won.
Jacob Cooley (3 months ago)
I bought the inner most seventeen centrical meters of the earth's core and its now worth twice what I paid for it.
Robotic Zamat (3 months ago)
Well done jacob/jerry. Well done.
Dragonorder18 (3 months ago)
Can we get a general record of votes on Anti trust related laws? I have an odd feeling about it, and Want to get a clearer picture.
Pokergirl Sam (3 months ago)
These idiots politicians dont even know the old laws. And making new ones up. Laughing. What a joke these billionaire thieves are doing. They are all criminals
Patrick Lloyd (3 months ago)
Interesting how in North America, Google keeps getting away with a ton of bad practices, while Europe keeps slapping them with billions in violation-after-violation for antitrust activities. It seems that Google has a hand in the U.S. govt's pants...
Daniel Nguyen (3 months ago)
We won't need PragerU for being the Big Tech to court! We need a government anti-trust!
sor3999 (3 months ago)
Market dominance does not equal monopoly. None of these tech companies come close to Standard Oil or old AT&T.
zeppirl (3 months ago)
IE: how it's supposes to work but obviously diesnt.
Robert Navarro (3 months ago)
laughing in samsung
Shak Akbar (3 months ago)
Government wants to be the only monopoly
Casius CBU (3 months ago)
shape -- corresponding attribute an after thought of concern in/ by design a sum of everything empowered by everyone and for everyone. unless googlediscovery: The difference between Quasar, Radio Galaxy and a Blazar is the angle of the stream. If the stream is straight up, it is a radio galaxy and we are not in the firing line. If the stream is angled slightly towards us, then its a Quasar and if the stream is angle directly towards us, its a Blazar. what are the symbiote? .... it has been and always be for as long as the existence of universe itself.
Terry Thompson (3 months ago)
This is why the investor class should be abolished. It shouldn't exist. It is only because of investors, and their psychotic desire to dominate in the most merciless, brutal, and sinister ways possible that we continue to have these inescapable conflicts.. end the conflict by ending the investor class.
Iron Fist (3 months ago)
These scholars, you mean Milton freedom
kailee woodson (4 months ago)
Feels like a vox video
长十 (4 months ago)
AntiTrust = AntiMonopoly = AntiModernSlavery = AntiJews = YouGonnaLoseYourCarrer&Life
Karabo ManneZA (4 months ago)
What Facebook did to Snapchat was wrong Like what Twitter tried to do to Meerkat
Татьяна Ром (4 months ago)
Russian general reveals truth about 9 11 (ENG SUB)
Michael S (4 months ago)
These companies got that way because of increased demand for their products. The public keeps them in business.
1N73RC3P7OR (4 months ago)
Here's a fun fact: After Standard Oil was broken up (in 1911) oil prices actually jumped.
GABRIEL CRAFT (4 months ago)
Seriously we need WARREN OR SANDERS
ThnkIaA (5 months ago)
It’s not too big you morons. It’s anticompetitive. Boeing is too big
Craig Reel (5 months ago)
It was not called AT&T it was called BellSouth
Ian Rhoten (5 months ago)
Adobe buys up competitive programs and destroys them, and Disney is trying to consume just about everything they can
Red Bull (5 months ago)
Evil hidden good ones that their intentions and schemes will be revealed
William Miller (5 months ago)
Facebook is the biggest violator. My hope is they really hit Darth Vader (otherwise known as Mark Zuckerberg) really hard! Facebook has broken more laws and violated more people's rights than any tech company out there! They are trying to dominate everything now, including money, with their introduction of Libra.
Vinyas Bhat (5 months ago)
its not going to wrk now... companies control government now a days..😌
Gerardo Rivera (5 months ago)
The reason Amazon doesn't make any profits on retail is because they are engaged in predatory pricing. They subsidize retail with their cloud business. We are enjoying the low prices until they finish every considerable competition in every market they are targeting. Then, I don't have to tell you what's going to happen.
Montag theMagnificent (5 months ago)
When you've got Mike Huckabee and Bernie Sanders in agreement on something, then there's something there
Karthikeyan Jayachandran (5 months ago)
Imagine if Starbucks being only place to buy coffee? Is this everyone wanted? No diversity?
NoahB Music (1 month ago)
If their coffees good if not someone will replace it
Lynn Hua (5 months ago)
Big tech... but what about big pharma?
ritaperdue (5 months ago)
Amazon needs to be broken up for sure!
NoahB Music (1 month ago)
No it doesn't a company should never be broken up because it's to successful I know that's not what they said but that's basically what they said
Yuan Tronz (5 months ago)
Rothschild, Schiff, Lehman, Goldman Sachs...
MrManifolder (5 months ago)
Unregulated competition always inevitably leads to a small handful of dominant firms (or single dominant firm) who will seek to structurally cement their dominant position. Unless we reform our governments into systems which can effectively regulate markets and enforce competition, then the long-term stability of capitalism is doubtful. We either fix it or say goodbye.
MrManifolder (5 months ago)
Q: How does anti-trust work? A: *It doesn't!*
Al the3rd (5 months ago)
It's time to wake up America 🇺🇲🇺🇲
M. H. (5 months ago)
I hope they break it all up
MissBunny850 (5 months ago)
I think this video had about 2 minutes of information in it
Mephisto (5 months ago)
This video is pretty stupid. It falsely characterizes the switch in antitrust enforcement philosophy as barely submerged political ideology. But this isn't true. The reality is that, contrary to this highfalutin rhetoric about "democracy" and other such things, antitrust enforcement was always primarily driven by economic considerations. In this sense, the victory of the Chicago School was an intellectual victory, and many of the experts quoted in this video would probably agree that, as an intellectual matter, the consumer welfare standard ought still to be the lodestar of antitrust regulators (I know that this is generally Daniel Crane's view, anyway).
Nihilist (5 months ago)
What about antitrust against media conglomerates?
Mike Chen (5 months ago)
Antitrust definitely worked in the past, but it isn't going to be a solution for the 21st century. Breaking Facebook into 2 Facebooks just means 1 will become the new Facebook. Most people won't even use Bing or Yahoo to look up things today. We refer looking up things online "Google it", not "Bing it" or "Yahoo it".
Kyle Spence (5 months ago)
Disney is too big. There's even a meme about the mouse taking over America.
Valens (5 months ago)
YES
zok310 (5 months ago)
lol, 13 companies rule over 300 million Americans. Add in about 4 automakers and its 17 companies that we have to interact with at some point as an adult.
Nhan Bui (5 months ago)
Mergers are neither bad nor good. It depends on the reasons for the merger. On the positive note, sometimes mergers happen because company a and b have technologies or services that compliment each other to make a better product. On the negative side, larger companies , say company a, can take advantage of mergers to stifle competition if they find out that company b who has a similar but better product is a threat to their obsolete product.
ray Williams (5 months ago)
Usually the latter is the case because protecting a strategic interest by going on the Offensive is vastly simpler than having to develop better products. Corporations are ludicrously conservative, anti-competative, anti-democrstic, and allergic to innovation (literally technical progress).
argentaamore (5 months ago)
What's being done on anti trust against Google, amazon, Microsoft, etc?? Nothing!!! Why?
NoahB Music (1 month ago)
Cause no company should be broken up for being successful
Tournel Henry (5 months ago)
Well, you guys can start by posting your videos on Vimeo and Dailymotion too
Chaython Meredith (5 months ago)
Jeff bezos ships a lot of drugs
habibbi alikafe (5 months ago)
I'm no expert but this may not say the whole story. For example, Bayer recently merged with Monsanto but to do so they had to invest more in r & d and show they had innovative projects underway and sell billions of dollars of assets to competitors. So while there may be consolidation, they are, by the courts decision, doing so in a way that justifies antitrust laws to be ignored
Antoine (5 months ago)
monopolies are impossible.
Preoximerias (5 months ago)
Man, the more I look at it, many of our current day problems stem from around the time of Reagan being President.
Random Weaboo (3 months ago)
n e o l i b e r a l i s m
Vapor Trails (5 months ago)
Preoximerias Because that's what the Democrats want you to think, and everyone in the legacy media is a Democrat. In reality, they hate him because he defeated communism. And because he was the most popular and successful president of the last 60 years.
Adam Feltes (5 months ago)
How Antitrust laws work: they don't. get money out of politics.