WEBVTT - Understanding Antitrust Laws and Their Impact on Economic Freedom

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<v Speaker 1>An illegal alien from Guatemala charged with raping a child

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<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:00:07.720 --> 0:00:11.840
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:00:11.920 --> 0:00:15.840
<v Speaker 1>filming and selling child pornography in Michigan. These are just

0:00:15.920 --> 0:00:19.680
<v Speaker 1>some of the heinous migrant criminals caught because of President

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<v Speaker 1>Donald J. Trump's leadership. I'm Christy nom the United States

0:00:23.320 --> 0:00:28.120
<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

0:00:28.160 --> 0:00:31.680
<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:00:31.760 --> 0:00:34.960
<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

0:00:35.040 --> 0:00:38.920
<v Speaker 1>are here illegally, your next you will be fined nearly

0:00:39.000 --> 0:00:43.000
<v Speaker 1>one thousand dollars a day, imprisoned, and deported. You will

0:00:43.040 --> 0:00:46.680
<v Speaker 1>never return. But if you register using our CBP home

0:00:46.720 --> 0:00:50.120
<v Speaker 1>app and leave now, you could be allowed to return legally.

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<v Speaker 1>Do what's right. Leave now. Under President Trump, America's laws,

0:00:55.400 --> 0:00:57.840
<v Speaker 1>border and families will be protected.

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<v Speaker 2>Sponsored by the United States Department of Homeland Security.

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<v Speaker 3>First and foremost, can you explain the basic principles of

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<v Speaker 3>anti trust laws and why they are important to protecting

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<v Speaker 3>our economic freedoms?

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<v Speaker 4>For sure? So anti trust and it's related cousin the

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<v Speaker 4>anti monopoly framework are really about the rules that companies

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<v Speaker 4>have to abide by when they compete. So competition is good.

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<v Speaker 4>It is the law of the land in this country.

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<v Speaker 4>And we like competition because it basically means that companies

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<v Speaker 4>have to compete to provide the best service. It keeps

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<v Speaker 4>prices down. And what anti trust does is it prescribes

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<v Speaker 4>some really simple, flexible rules so that you don't have monopolies, right,

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<v Speaker 4>which is when one company controls, you know, the provision

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<v Speaker 4>of a product or a service in the market, and

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<v Speaker 4>when you don't have the undo accumulation of power, right,

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<v Speaker 4>corporate power in a market. There are different ways that

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<v Speaker 4>you can accumulate that power. Sometimes it's by mergers, right,

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<v Speaker 4>And so anti trust is applied to mergers that are

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<v Speaker 4>notified in the United States, typically only the biggest mergers.

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<v Speaker 4>And the reason it's really important to understand anti trust

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<v Speaker 4>for your audience, for every American to understand anti trust,

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<v Speaker 4>is because it is so fundamental to our full participation

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<v Speaker 4>in our democracy. And if I can say just a

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<v Speaker 4>few words about what I mean about that, I think

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<v Speaker 4>that black Americans have shed blood to give meaning to

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<v Speaker 4>this fundamental proposition that all people are created people. Our

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<v Speaker 4>forefathers have fought for social rights, for political rights, for example,

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<v Speaker 4>the right to vote. But as I've thought about this

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<v Speaker 4>work more and really gotten in the books and read

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<v Speaker 4>a lot of the thought beforehand, what I realized is

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<v Speaker 4>that so many civil rights leaders understood that social and

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<v Speaker 4>political rights standing alone would not be sufficient to protect

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<v Speaker 4>our full participation and our full citizenship in this country.

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<v Speaker 4>That you really need economic liberty as that third plank

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<v Speaker 4>to protect all of your other liberties. And there's really

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<v Speaker 4>incredible scholarship and writing from WBDU boys, m Okay, Bayard Rusten,

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<v Speaker 4>and others who really understood this. And so that's why

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<v Speaker 4>I'm so pleased to be able to talk to all

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<v Speaker 4>of you and your audience about why I think antitrust

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<v Speaker 4>is good for the entire country, but in particular Black.

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<v Speaker 5>Americans given the digital economy that we're in now, Like,

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<v Speaker 5>how important do you think it is to have the

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<v Speaker 5>anti trust laws and do you think some companies in

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<v Speaker 5>the tech space are actually too big to fail?

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<v Speaker 4>It's a great question. I think that let me take

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<v Speaker 4>a step back about digital platforms and the big tech companies.

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<v Speaker 4>So there you should know that the antitrust laws apply

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<v Speaker 4>to the entire economy, healthcare, agriculture, financial services, labor markets,

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<v Speaker 4>and everything in between, professional sports and education and so forth.

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<v Speaker 4>But you know, in the last twenty years or so,

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<v Speaker 4>recall that you know there was a two tiered recovery

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<v Speaker 4>from the financial crisis. Some people lost a lot and

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<v Speaker 4>never quite made up around some people lost a little bit,

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<v Speaker 4>and maybe you're doing a little bit better. And there's

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<v Speaker 4>a sense in this country for a lot of people

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<v Speaker 4>that economic opportunity is not what it used to be.

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<v Speaker 4>And the tech platforms are interesting because that sentiment that

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<v Speaker 4>I just described actually is true regardless of who you are,

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<v Speaker 4>your demographic or your political leanings. Right, so people on

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<v Speaker 4>the left and the right are concerned about economic opportunity

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<v Speaker 4>in this country. And for a lot of folks who

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<v Speaker 4>are self styled conservatives, they're thinking about the tech platforms

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<v Speaker 4>and the power that they have to censor people, the

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<v Speaker 4>power that they have to deplatform people, the power to

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<v Speaker 4>control what ideas even make it to the public. And

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<v Speaker 4>in the case of Google, for example, which I can

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<v Speaker 4>talk about because we filed monopolization cases against Google, one

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<v Speaker 4>of which went to trial last year and where we

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<v Speaker 4>look forward to closing arguments in the spring, and another

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<v Speaker 4>one that's going to trial this year. And so I

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<v Speaker 4>think that some companies are both big and do things

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<v Speaker 4>that are against the law. And in the case of

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<v Speaker 4>Google Search, that is a case about a company that

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<v Speaker 4>has we'll say ninety plus percent share of all the

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<v Speaker 4>Internet searches that are conducted every day in this country,

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<v Speaker 4>and they entered into agreements with.

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<v Speaker 1>An illegal alien from Guatemala charged with raping a child

0:08:01.120 --> 0:08:04.920
<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:08:05.160 --> 0:08:09.320
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:08:09.360 --> 0:08:13.280
<v Speaker 1>filming and selling child pornography in Michigan. These are just

0:08:13.360 --> 0:08:17.120
<v Speaker 1>some of the heinous migrant criminals caught because of President

0:08:17.160 --> 0:08:20.760
<v Speaker 1>Donald J. Trump's leadership. I'm Christy nom the United States

0:08:20.760 --> 0:08:25.560
<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

0:08:25.600 --> 0:08:29.120
<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:08:29.200 --> 0:08:32.400
<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

0:08:32.480 --> 0:08:36.360
<v Speaker 1>are here illegally, your next you will be fined nearly

0:08:36.440 --> 0:08:40.440
<v Speaker 1>one thousand dollars a day, imprisoned, and deported. You will

0:08:40.480 --> 0:08:44.120
<v Speaker 1>never return. But if you register using our CBP home

0:08:44.160 --> 0:08:47.559
<v Speaker 1>app and leave now, you could be allowed to return legally.

0:08:47.920 --> 0:08:52.679
<v Speaker 1>Do what's right. Leave now. Under President Trump, America's laws,

0:08:52.840 --> 0:08:55.280
<v Speaker 1>border and families will be protected.

0:08:55.360 --> 0:08:57.360
<v Speaker 2>Sponsored by the United States Department of Homeland.

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<v Speaker 4>Security, browser companies, device manufacturers including your phone, device manufacturers

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<v Speaker 4>with wireless carriers and the like to make sure that

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<v Speaker 4>they were the default search engine. And what's interesting about

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<v Speaker 4>those digital platforms is that, like Google Search, is that

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<v Speaker 4>the more people use Google Search, the better the product becomes.

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<v Speaker 4>And it also deprives competitors of the opportunity to provide

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<v Speaker 4>you a product and so digital market. This is a

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<v Speaker 4>concept that people call network effects and such. But again,

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<v Speaker 4>let's zoom out and talk about why that should matter

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<v Speaker 4>to all people. You know, when you go and conduct

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<v Speaker 4>a search, you might be looking at healthcare information, you

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<v Speaker 4>might be thinking of reproductive information, you might be thinking

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<v Speaker 4>about really intimate personal decisions about how you are going

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<v Speaker 4>to live your life and how you're going to you

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<v Speaker 4>exercise your rights as a consumer.

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<v Speaker 3>And so.

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<v Speaker 4>Having competition amongst search engines to give you the very

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<v Speaker 4>best search results is very important. And we've seen interesting

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<v Speaker 4>reporting about how, you know, concerns about how search results

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<v Speaker 4>are delivered can actually vary information that people need, or worse,

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<v Speaker 4>serve up very harmful information. And again, that affects the

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<v Speaker 4>experience of citizenship in this country, and it's a way

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<v Speaker 4>that all of us feel the effects and ramifications of

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<v Speaker 4>corporate power in like very basic ways in our everyday life.

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<v Speaker 7>Yeah, it's interesting when we hear anti trust laws, we

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<v Speaker 7>usually again we hear Tech, we hear Google, we hear Mata,

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<v Speaker 7>we hear Apple. Those companies always come into into the forefront.

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<v Speaker 7>From a standpoint of the average day citizen, it's tough

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<v Speaker 7>for us to understand it or have a care base

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<v Speaker 7>about it because we're just so unaware. So it feels

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<v Speaker 7>like big brother is being watched by another big brother.

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<v Speaker 7>And then whatever the result is, we'll figure out how

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<v Speaker 7>do we get more people involved in understanding just the

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<v Speaker 7>ramifications of some of the things you're talking about on

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<v Speaker 7>an everyday basis.

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<v Speaker 4>So I will say that under the Biden Harris administration,

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<v Speaker 4>and this leadership set at the Justice Department to include

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<v Speaker 4>Attorney General Merrick Garland, the Assistant Attorney General in charge

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<v Speaker 4>of the Any Trust Division, a guy named Jonathan Canter,

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<v Speaker 4>and other very important figures including Lena Cohn, the chair

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<v Speaker 4>of the FTC in others, there has been a whole

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<v Speaker 4>of government approach to thinking about anti trust and competition issues.

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<v Speaker 4>So way back in July twenty twenty one, the President

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<v Speaker 4>signed an executive order where he said that it would

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<v Speaker 4>be the policy of his administration to take into account

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<v Speaker 4>competition and the benefits of competition policy and antitrust in

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<v Speaker 4>every single agency. So every again, the the Department of Agriculture,

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<v Speaker 4>the Department of Transportation, the Federal Communications Commission and more

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<v Speaker 4>are all a part of this effort to make sure

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<v Speaker 4>that they are taking into account competition principles in their

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<v Speaker 4>everyday work for all of us at the Any Trust Division,

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<v Speaker 4>or I have the distinct privilege of serving as the

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<v Speaker 4>second highest ranking official and working with a staff of

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<v Speaker 4>more than eight hundred people who are dedicated to faithfully

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<v Speaker 4>serving the public and bringing the benefits of competition to

0:12:31.640 --> 0:12:34.960
<v Speaker 4>everyday people. We're thinking about just how we talk to

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<v Speaker 4>the public right. Anti trust for a long time was

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<v Speaker 4>really technocratic. It was steeped and kind of murky economics.

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<v Speaker 4>And that's really a shame, because as I've gone back

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<v Speaker 4>and engaged with the history, it's clearer to me than

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<v Speaker 4>ever that anti trust is for all of us. And so,

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<v Speaker 4>for example, we are trying to make sure that we're

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<v Speaker 4>using plain language in our complaints, our guidance documents, or

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<v Speaker 4>making sure that we're not privileging a small few who

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<v Speaker 4>already kind of know what's going on at the Anti

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<v Speaker 4>Trust Division and down at the Federal Trade Commission, which

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<v Speaker 4>is our sister agency, and that we're setting up access

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<v Speaker 4>for everyday people to get the information that they need.

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<v Speaker 4>And so we go out and talk to as many

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<v Speaker 4>people as we possibly can. I'll give you just one example.

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<v Speaker 4>We spoke to a group of farmers that we're coming

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<v Speaker 4>to Washington for the day just to talk about how

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<v Speaker 4>we think about competition and agriculture. And we're going out

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<v Speaker 4>to colleges and universities, We're going out to conferences, We're

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<v Speaker 4>talking to content creators. We're just talking to as many

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<v Speaker 4>people as we possibly can because we feel so deeply

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<v Speaker 4>that anti trust is for the people, and we as

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<v Speaker 4>public servants, are obligated to protect every citizen in this country,

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<v Speaker 4>regardless of whether you have power, whether you don't.

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<v Speaker 1>An illegal alien from Guatemala charged with raping a child

0:14:06.840 --> 0:14:10.640
<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:14:10.880 --> 0:14:15.000
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:14:15.080 --> 0:14:18.960
<v Speaker 1>filming and selling child pornography in Michigan. These are just

0:14:19.080 --> 0:14:22.840
<v Speaker 1>some of the heinous migrant criminals caught because of President

0:14:22.880 --> 0:14:26.400
<v Speaker 1>Donald J. Trump's leadership. I'm Christy Noman, the United States

0:14:26.480 --> 0:14:31.280
<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

0:14:31.280 --> 0:14:34.840
<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:14:34.920 --> 0:14:37.160
<v Speaker 1>one hundred thousand illegal aliens.

0:14:36.720 --> 0:14:37.560
<v Speaker 2>Have been arrested.

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<v Speaker 1>If you are here illegally, your next you will be fined.

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<v Speaker 1>Nearly one thousand dollars a day. Imprisoned and deported, you

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<v Speaker 1>will never return. But if you register using our CBP

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<v Speaker 1>home app and leave now, you could be allowed to

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<v Speaker 1>return legally. Do what's right. Leave now. Under President Trump

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<v Speaker 1>America's laws, border and families will be protected.

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<v Speaker 2>Sponsored by the United States Department of Homeland Security,