• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Today, Emily Blunt is worth $80 million thanks to her Hollywood career—but she actually wanted to be a UN Spanish translator on $80K

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Today, Emily Blunt is worth $80 million thanks to her Hollywood career—but she actually wanted to be a UN Spanish translator on $80K
TechAntitrust

Is it time for a new agency to oversee Big Tech? Many say yes

Jeff John Roberts
By
Jeff John Roberts
Jeff John Roberts
Editor, Finance and Crypto
Down Arrow Button Icon
Jeff John Roberts
By
Jeff John Roberts
Jeff John Roberts
Editor, Finance and Crypto
Down Arrow Button Icon
October 23, 2020, 2:29 PM ET
Add Fortune on Google for similar content.

The Justice Department’s decision to sue Google this week elicited mixed reactions, but there’s one point on which everyone agreed: The antitrust case will take years to play out. There are various reasons for this—from the complexity of the case to Google’s vast legal resources to the sluggishness of the judicial process—but the upshot is that the search giant will be able to conduct business as usual for the foreseeable future.

Not everyone is satisfied with this situation. As the New York Times reports, a growing number of influential figures, from law professors to former regulators, are calling for a different approach. Concluding that antitrust law is simply too slow, they believe it’s time for a new body to oversee tech behemoths like Apple, Facebook, Google, Microsoft, and Amazon. From the Times:

“A more rapid-response approach is required, they said. One solution: a specialist regulator that would focus on the major tech companies. It would establish and enforce a set of basic rules of conduct, which would include not allowing the companies to favor their own services, exclude competitors or acquire emerging rivals and require them to permit competitors access to their platforms and data on reasonable terms.”

As the Times notes, the idea of a specialized regulator for certain sectors or companies is hardly unprecedented. The Federal Aviation Administration oversees airlines, for example, while the Food and Drug Administration regulates pharma companies, and the Federal Communications Commission watches over the likes of AT&T and Verizon. Meanwhile, the government singles out certain financial institutions for special regulation on the grounds of their size.

Among those calling for a specialized regulator for Big Tech is Jason Furman, a Harvard University professor who is advising the U.K. government on creating a new body to oversee digital utilities. Furman describes himself as a “small ‘c’ conservative,” and the Times points out that he and other advocates for a new regulator are hardly progressive firebrands.

Currently, the tech giants aren’t free from regulation, of course. The Federal Trade Commission has a sophisticated team of technical staff and has repeatedly launched into Facebook, Google, and others for a variety of misdeeds, including privacy violations. That said, the FTC also appears to lack the legal tools to bring the tech firms to heel. Its primary tool—so-called consent decrees—don’t allow the agency to impose fines for a first offense and, when a company violates those decrees, the penalties haven’t been enough to change their behavior.

A new agency that is both nimble and specialized could thus be just the tool to prevent the tech behemoths from abusing their monopoly positions. But not everyone is in favor of the idea. Zephyr Teachout, a law professor at Fordham University and an influential tech critic, warned that those advocating for the idea may have other agendas:

https://twitter.com/ZephyrTeachout/status/1319285866896846848

Teachout goes on to note that the scope of a Big Tech regulator’s authority would be uncertain and that the agency would be prone to being captured by powerful tech lobbyists (something that many claim occurred at the FAA in the wake of the 737 Max air disasters).

Other critics of the proposal claimed that antitrust law is an effective tool so long as political leaders are willing to deploy it:

Re this article…antitrust hasn’t worked because it’s been stuffed in a closet for the last 40 years!(!!)

Grateful for leaders like @RepCicilline who are demonstrating how antitrust + reg is essential for restoring fair competition and democracy itself. https://t.co/gmHt11EDL5

— Sarah Miller (@sarahmillerdc) October 22, 2020

The tweet cites Rep. David Cicilline (D-R.I.), who led a landmark new report on anticompetitive activities by big tech companies, and who this week called for an end to an “era of weak enforcement” in antitrust.

Others, however, praised the idea for a new regulator. Karen Kornbluh, an executive with the influential policy group GMF Digital, noted that such calls are consistent with a recent report she coauthored that claims a new breed of regulator is required to check the abuses of big tech companies.

Ultimately, though, it would fall to Congress to create any Big Tech regulator and, for now, there appears to be little momentum to do so.

Explore Fortune’s Q4 investment guide:

  • The biggest economic threat facing the next administration
  • These 6 economic charts tell the story of Trump’s presidency
  • What Wall Street’s favorite election indicators say about who will win the White House in 2020
  • 10 stocks to buy now: These names should perform well no matter who wins the White House
  • ESG investing is bigger than ever. Here’s how you can save the world, and your portfolio
  • This year’s ‘October surprise’ could impact your portfolio for years to come
  • The next President will hold a lot of sway over Tesla’s biggest profit center
  • Q&A: Former Commerce Secretary Penny Pritzker talks America’s R&D problem, taxes, and the country’s economic outlook
About the Author
Jeff John Roberts
By Jeff John RobertsEditor, Finance and Crypto
LinkedIn iconTwitter icon

Jeff John Roberts is the Finance and Crypto editor at Fortune, overseeing coverage of the blockchain and how technology is changing finance.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Michael Burry just shorted Caterpillar’s 172% AI rally. One analyst says his bet won’t even matter
Investingstock prices
Michael Burry just shorted Caterpillar’s 172% AI rally. One analyst says his bet won’t even matter
By Marco Quiroz-GutierrezJuly 2, 2026
6 hours ago
U.S. Treasury Secretary Scott Bessent
EconomyDebt
AI’s $2.2 trillion deficit fix is already half fake, economists say
By Tristan BoveJuly 2, 2026
7 hours ago
Anthropic CEO Dario Amodei
AIEye on AI
Anthropic’s Fable model is back. But U.S. AI policy is still a mess
By Jeremy KahnJuly 2, 2026
7 hours ago
ai
North AmericaImmigration
Trump’s $46 billion ‘smart wall’ with Mexico bets on AI and scale
By Rebecca Santana and The Associated PressJuly 2, 2026
9 hours ago
sk
AISouth Korea
AI “grief videos” turn mourning into a $390 service in South Korea
By Hyung-Jin Kim and The Associated PressJuly 2, 2026
9 hours ago
Securitize CEO Carlos Domingo looks to the far right during a conference.
CryptoBlockchain
Securitize is latest crypto company to go public as BlackRock-backed firm sees stock jump 3% on debut
By Camila Grigera NaónJuly 2, 2026
9 hours ago

Most Popular

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
2 days ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
8 days ago
Today, Emily Blunt is worth $80 million thanks to her Hollywood career—but she actually wanted to be a UN Spanish translator on $80K
Success
Today, Emily Blunt is worth $80 million thanks to her Hollywood career—but she actually wanted to be a UN Spanish translator on $80K
By Orianna Rosa RoyleJuly 2, 2026
19 hours ago
Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii
Success
Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii
By Sasha RogelbergJuly 2, 2026
9 hours ago
Current price of oil as of July 1, 2026
Personal Finance
Current price of oil as of July 1, 2026
By Joseph HostetlerJuly 1, 2026
2 days ago
Americans are escaping the U.S. for New Zealand where house prices have hit a new low—but only wealthy Americans with $3 million spare can invest
Success
Americans are escaping the U.S. for New Zealand where house prices have hit a new low—but only wealthy Americans with $3 million spare can invest
By Emma BurleighJuly 2, 2026
11 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.