Lost Debate The Age of Extraction
Nov 13, 2025
Tim Wu, a law professor and author of The Age of Extraction, joins to discuss the rise of America's tech giants and the antitrust battles that shaped them. He examines the historical roots of antitrust law, from Teddy Roosevelt's early trust-busting to today’s challenges with monopolies like Amazon. Wu highlights how tech companies use tactics like sponsored listings to extract revenue while stifling competition. The conversation also touches on AI's role in reinforcing market power and the need for a competitive landscape to foster innovation.
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AT&T Enforcement Built The Internet
- Pushing AT&T out of adjacent markets and forcing patent licensing created fertile ground for semiconductors and computing.
- The breakup and rules enabled dial-up services and the popular internet's early growth.
The Price-Focused Antitrust Turn
- The Chicago-school shift refocused antitrust on price effects rather than concentrated power.
- That made enforcement more permissive toward large firms absent direct price harms.
Amazon’s Marketplace Origin Story
- Amazon began as a low-fee marketplace that enabled small sellers to reach customers and thrive.
- By locking buyers and sellers it gained dominance and later shifted toward extraction.
