FTC Chair Lina Khan Says Agency Pursuing 'Mob Bosses' in Big Tech

The U.S. Federal Trade Commission is prioritizing enforcement actions against major technology companies that cause the most harm, FTC Chair Lina Khan said at an event. Khan emphasized the importance of targeting "mob bosses" rather than lower-level offenders to effectively address illegal behaviors in the industry. The FTC has recently launched antitrust probes into Microsoft, Open AI, and Nvidia, and has taken legal action against Meta, Amazon, Google, and Apple in recent years. TechCrunch adds: Khan said that in any given year, the FTC sees up to 3,000 merger filings reported to the agency and that around 2% of those deals get a second look by the government. "So you have 98% of deals that, for the most part, are going through," she said. "If you are a startup or a founder that is eager for an acquisition as an exit, a world in which you have five or six or seven or eight potential suitors, I would think, is a better world in which you just have one or two, right? And so, actually promoting more competition at that level to ensure that startups have you know more of a fair chance of getting a better valuation, I think would be beneficial as well."

Read more of this story at Slashdot.