Searching for smart, safe news you can TRUST?

Support safe, smart, REAL journalism. Sign up for our Axios AM & PM newsletters and get smarter, faster.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Searching for smart, safe news you can TRUST?

Support safe, smart, REAL journalism. Sign up for our Axios AM & PM newsletters and get smarter, faster.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Eniola Odetunde/Axios

After grilling the CEOs of Amazon, Facebook, Google and Apple last week, members of Congress are grappling with whether to accuse any of the firms of illegal anticompetitive behavior, to propose updating federal antitrust laws — or both.

The big picture: Congress is just one arm of government making the case against these companies. Google is expected to be the first of the firms to face possible antitrust litigation from the Justice Department before summer's end, but all four face a full-court press of investigations by DOJ, the Federal Trade Commission and state attorneys general.

What's next: Following on from last week's hearing, the House Judiciary antitrust subcommittee is preparing a report of its probe's findings, drawn from some 1.3 million documents and hours of calls and interviews. Chair Rep. David Cicilline told Axios Re:Cap he hopes to issue the report and recommendations by late August or September.

The report may detail behaviors that investigators conclude harmed competition, as outlined in the hearing:

  • Facebook undertook its 2012 acquisition of Instagram in part because executives viewed it as a competitive threat, per internal communications uncovered in the probe.
  • Lawmakers also highlighted Amazon's use of third-party sales data to develop its own products.

The lawmakers face two options:

  • They can argue that tech giants have violated antitrust law and lay out a legal case for breaking them up. That's tough, as the case that the companies have monopolies remains fuzzy and none of them has driven up prices for consumers — two bars that successful antitrust cases are expected to pass.
  • They can make recommendations to update antitrust laws for the digital economy. That will require coming up with metrics of harm other than pricing effects, since so many digital products are free, and it will also call for definitions of markets that address the kind of power Amazon holds over third-party sellers or Apple holds over App Store developers.

Antitrust panel members suggest they'll ultimately produce some combination of the two.

  • "Some of the things we uncovered, like Facebook clearly admitting to buying a competitor for market share, I believe is breaking the law under current antitrust regulation," Rep. Pramila Jayapal (D-Wash.) told Axios. Other areas, such as Google's dominance in the ad tech space, may need newer laws to address, she said.
  • Rep. Ken Buck (R-Colo.) told Axios, "We've got to sit down and talk about what changes in the law would solve some of the issues we have identified. I feel strongly that there is a need for regulation in the digital arena."

What we're hearing: Groups that advocate tough measures against tech companies want to see detailed legislative recommendations.

  • The Economic Liberties Project, for instance, wants new antitrust laws to set "bright-line" caps on how much market share any one tech firm can hold, executive director Sarah Miller told Axios.
  • The group also wants to see Congress require regulators to claw apart Amazon's e-commerce platform from its storage and shipping business, per a letter to the House Judiciary committee Thursday also signed by several other groups including the Open Markets Institute, Demand Progress and The Institute for Local Self-Reliance.

But, but, but: The fate of any proposals to emerge from the House investigation almost certainly lies with voters in November. New antitrust legislation — a long shot at any time — is unlikely to progress unless Democrats win both the White House and the Senate.

Go deeper

Scoop: Justice Department OKs Uber-Postmates deal

Illustration: Sarah Grillo/Axios

The Justice Department has cleared Uber’s acquisition of food delivery company Postmates, a source familiar with the deal told Axios Monday.

Why it matters: The DOJ was scrutinizing the $2.65 billion all-stock deal over antitrust concerns as the food delivery sector undergoes consolidation.

Dan Primack, author of Pro Rata
3 hours ago - Health

Moderna exec says children could be vaccinated by mid-2021

Tal Zaks, chief medical officer of Moderna, tells "Axios on HBO" that a COVID-19 vaccine could be available for children by the middle of next year.

Be smart: There will be a coronavirus vaccine for adults long before there is one for kids.

Updated 3 hours ago - Politics & Policy

Sen. Kelly Loeffler to return to campaign trail after 2nd negative test

Sen. Kelly Loeffler addresses supporters during a rally on Thursday. Photo: Jessica McGowan/Getty Images

Sen. Kelly Loeffler's (R-Ga.) campaign announced Monday that she "looks forward to getting back out on the campaign trail" after testing negative for COVID-19 for a second time, following earlier conflicting results.

Why it matters: Loeffler has been campaigning at events ahead of a Jan. 5 runoff in elections that'll decide which party holds the Senate majority. Vice President Mike Pence was with her on Friday.