With President Trump's return to the Oval Office, the focus shifts to governance and the implementation of his agenda. From immigration reform to addressing Diversity, Equity, and Inclusion (DEI) initiatives, the president has been actively signing executive orders. His second term promises a renewed focus on American prosperity and technological advancement.
Trump's 2024 victory marks a significant political comeback. His unwavering support base, comprised of "America First" patriots, stood by him even amidst challenges like unemployment, censorship from Big Tech, legal battles, and financial pressures. Many supporters faced consequences for their allegiance to Trump, highlighting the dedication within his base.
Now, corporations that previously distanced themselves from Trump are attempting to align with his administration. However, it's crucial for the White House to approach these overtures with caution. Big Tech's motivations should be scrutinized, especially considering their past actions. Despite potential donations or public displays of support, their primary concern lies in avoiding antitrust enforcement.
Lauren Sánchez and Jeff Bezos at President Trump's inauguration. (SAUL LOEB/POOL/AFP via Getty Images)
Major tech companies like Alphabet, Amazon, Meta, and Apple are currently facing bipartisan antitrust lawsuits. Some of these legal challenges originated during Trump's first term. While the Biden administration secured a victory in one case against Google, the Trump administration is anticipated to prevail in another. These tech giants are hoping for a less stringent approach to antitrust enforcement, reminiscent of the Bush-Obama era.
The relatively lax antitrust enforcement during the Bush and Obama administrations contributed to the immense growth of these tech companies. Decisions like allowing Facebook's acquisition of WhatsApp and Instagram, and halting an investigation into Google, paved the way for their current market dominance. These platforms leveraged this period of regulatory leniency to expand significantly.
Mark Zuckerberg and Donald Trump. (Getty Images)
President Trump is unlikely to accept the argument that these tech monopolies need to grow further to compete with China. He understands the importance of robust antitrust enforcement for maintaining a truly free market. When dominant tech companies stifle competition, harm small businesses, and censor dissenting voices, the principles of a free market are undermined.
The historical precedent of the AT&T breakup in 1984 serves as a valuable lesson. Despite AT&T's claims that its monopoly was necessary for global competition, the breakup ultimately fostered innovation and competition, including the development of the wireless industry and key components of the early internet. Trump's antitrust enforcers should prioritize protecting the free market from monopolistic practices and championing American consumers.
Trump's administration must resist the pressure to adopt a lenient approach to antitrust enforcement. Big Tech and its allies will likely employ various tactics to undermine these efforts, but the focus should remain on promoting competition and innovation in the American market.
