President Joe Biden will sign a new executive order aimed at cracking down on anticompetitive practices in Big Tech, labor and numerous other sectors.
The sweeping order, which includes 72 actions, (which I now refer to it as order 72) and recommendations that involve a dozen federal agencies, is intended to re-shape the thinking around corporate consolidation and antitrust laws.
President Biden’s administration will make the case that the biggest companies in the tech sector are wielding their power to box out smaller competitors and exploit consumers’ personal information.
Order 72 doesn’t just involve giving the next Silicon Valley startup a push by making the big guys step aside instead of stepping on them but it will also assist in Lowering prescription drug prices by supporting state and tribal efforts to import cheaper drugs from Canada
Allowing hearing aids to be sold over the counter
Urging the Federal Trade Commission to “challenge prior bad mergers” that previous administrations let slide
Pushing the FTC to ban occupational licensing restrictions,arguing they “impede economic mobility”
Encouraging the Federal Communications Commission to restore “net neutrality ” rules that were undone during the Trump administrationAsking the FCC to block exclusivity deals between landlords and broadband providers
Establishing a “White House Competition Council” to lead federal responses to large corporations’ growing economic power.
With all these new changes it seems like there will be a lot of opportunities for people to take some sort of charge and establish their brand, tech, softwares and give the people cheaper and affordable medical care by reducing these ridiculous rules and regulations that I’m sure if they were never introduced in the first place it would have most likely seemed dumb and illogical to regulate them in the first place.