Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Axios on your phone

Get breaking news and scoops on the go with the Axios app.

Download for free.

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of 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!

Want a daily digest of the top Des Moines news?

Get a daily digest of 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!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

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: Sarah Grillo/Axios

Silicon Valley investors downplayed concerns that big tech companies inhibit startups, during a recent workshop hosted by the U.S. Justice Department and Stanford University's law school.

Why it matters: Antitrust regulators are paying increased attention to Silicon Valley's M&A culture.

What they’re saying: “I think [government regulation] is the greatest impediment to the creation of smaller companies and to moving fast,” said Sequoia Capital’s Michael Moritz, echoing a familiar anti-government refrain from Silicon Valley.

  • He later pointed the finger at "the school classrooms of America" for lagging behind China's educational achievements. "We're killing the future technologists of the United States."

VCs also argued that because they tend to invest in “the next thing," big tech incumbents aren’t a deterrent for their business.

  • “Would you invest in PC operating systems today? Would you invest in microprocessors today? Would you invest in combustion automobiles today? No, you wouldn't if you’re a good investor,” said Ram Shriram, an early investor in Google and one of its current directors.
  • Similarly, Moritz pointed out that companies like Google and Nvidia didn’t set out to take on incumbents like Microsoft and Intel.

But, but, but: Some disagreed.

  • “I’ve seen dozens of startups wanting to do something to compete with Linkedin but that’s so hard to do — incredibly strong network effects to overcome,” said Switch Ventures partner Paul Arnold.
  • Early Facebook backer Roger McNamee argued that “the business models of Google, Facebook, Amazon, and Microsoft and of the venture firms… may not be optimal for the economy as a whole.”

Between the lines: Many worried about the impact that increased M&A regulation could have on incentives for everyone involved.

  • “If I’m a founder or I’m an investor, and I’m thinking about starting a company in a core market of an incumbent…. what if Plan B (M&A) is not an option—that changes things,” said Trinity Ventures' Patricia Nakache.

The bottom line: While Silicon Valley's investors and entrepreneurs love market competition, they also value the rewards of winning a competition—being a big and powerful company.

Go deeper:

Go deeper

Updated 17 mins ago - Sports

Olympics dashboard

Italy's Lamont Marcell Jacobs of Team Italy crosses the finish line ahead of American Fred Kerley in the men's 100m final on day nine of the Olympic Games at Olympic Stadium in Tokyo, Japan, on Sunday. Photo: Cameron Spencer/Getty Images

🚨: IOC "looking into" American Raven Saunders' Olympic podium gesture

🏃🏾: Italy's Lamont Marcell Jacobs: Reconnecting with U.S. father "gave me the desire to win" Olympic 100m sprint race.

🥇High jumpers persuade Olympic officials to let them share gold

🏌️‍♂️: Golfer Xander Schauffele wins gold for U.S. by one shot

🤸🏿‍♀️: Simone Biles won't compete in Olympic floor finals, individual vault or uneven bars

🏳️‍⚧️: Axios at the Olympics: Games grapple with trans athletesTrans athletes see the Tokyo Games as a watershed moment

Go deeper: Full Axios coverage

Updated 29 mins ago - Sports

IOC "looking into" American Raven Saunders' Olympic podium gesture

Team USA's Raven Saunders gestures on the podium with her silver medal after competing in the women's shot put event during the Tokyo 2020 Olympic Games at the Olympic Stadium in Tokyo on Sunday. Photo: Ina Fassbender/AFP via Getty Images

The International Olympic Committee is "looking into" U.S. shot-putter Raven Saunders' gesture on the Tokyo Games podium after she won a silver medal, IOC spokesperson Mark Adams told reporters Monday.

Why it matters: Saunders told AP she placed her hands above her head in an "X" formation while on the podium to stand up for "oppressed" people. The IOC has banned protests during the Tokyo Games.

Updated 2 hours ago - Sports

Olympic sprint champ Jacobs: Reconnecting with U.S. dad "gave me desire" to win

Italy's Lamont Marcell Jacobs celebrates as he crosses the finish line to win the men's 100m final during the Tokyo 2020 Olympic Games at the Olympic Stadium in Tokyo on Sunday. Photo: Ben Stansall/AFP via Getty Images

Italy's surprise 100-meters Olympic gold medalist Lamont Marcell Jacobs opened up Sunday about how reconnecting with his American father over the past year has helped spur him on.

What he's saying: The Texas-born sprinter told reporters after setting a European record of 9.80 seconds to win gold in Sunday's event that getting back in touch with his father "gave me the desire, the speed, that something more that helped me being here and win the Olympics."