Quick summary: The Trump administration is poised to loosen the reins on big tech companies. Meanwhile, the state of California is revisiting its policies that ensure fair competition. Today, we’re exploring how the potential reforms don’t have everyone sold — not even all small business owners — but still have a good chance at becoming law.
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What California’s antitrust reform could mean for you
Hey, y’all,Tech billionaires cozying up to President Donald Trump is nothing new, but their pledges of allegiance are hitting a new high note. I mean, we all saw the inauguration, right? The three richest people in the world — and CEOs from half of the top 10 richest companies — appeared at Trump's flank, ready and willing to benefit from his second term however possible. And they may not have to wait long, as experts predict the Trump administration will follow a more lenient route than its predecessor when it comes to antitrust policy, Reuters reports.For example, the outcome of several sizable monopoly lawsuits against Silicon Valley’s royalty, including Apple, Meta, and Alphabet (formerly Google), could be weakened by Trump’s influence on the Department of Justice and Federal Trade Commission. It’s also likely that certain merger guidelines, installed under Biden, will get dialed back. They are disliked by Wall Street but are praised on both sides of the aisle as a benefit to society, according to Reuters.Given this loosening of federal oversight, the state of California is taking action. Many of these blue chip companies do business there, yet the state’s antitrust law has not been touched in over 100 years — until, maybe, now.
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