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Sen. Elizabeth Warren. Photo: Scott Olson/Getty Images

Democratic presidential candidate Sen. Elizabeth Warren said Friday that she would take steps to break apart Google, Facebook and Amazon if elected.

Why it matters: It's the most significant tech policy idea proposed on the presidential campaign trail so far, and in keeping with a moment where policymakers of both parties have grown skeptical of the power of big web platforms.

Details: The Massachusetts senator's plan involves two key steps.

  • Get legislation passed making it illegal for companies with over $25 billion in worldwide revenue to act as both operators and users of a platform.
  • Amazon, for example, couldn't sell its private-label products — like AmazonBasics batteries — that compete with third-party merchants on its Marketplace platform. Aspects of Google's ad and search platforms would be split apart, too, she said in a post.
  • Install regulators willing to go back and break up already-closed mergers.
  • On the list: Amazon's purchases of Whole Foods and Zappos. Google's purchases of ad product DoubleClick, Waze and Nest. Facebook's acquisitions of WhatsApp and Instagram.

Yes, but: Even if elected, nothing's a sure thing. A President Warren couldn't take these steps without some level of congressional support, since one of her proposals requires passing a law and major antitrust regulators require Senate confirmation.

The big picture: This proposal is a boon for a growing anti-monopoly movement that critics have derisively called "hipster antitrust."

  • Scholars in its ranks say that American competition enforcement has failed and that corporate consolidation has played a role in many societal problems.

Go deeper

Updated 1 hour ago - Sports

Olympics dashboard

Team USA's Simone Biles watching the women's uneven bars final at the Olympic Games in Tokyo, Japan, on Sunday. Photo: Jamie Squire/Getty Images

🚨: Simone Biles will compete in her final Olympic event

⚽: U.S. women's soccer team falls to Canada in semifinals, ending chances at gold

🏋️‍♀️: Laurel Hubbard becomes first openly trans woman to compete at Olympics

🤸: U.S. gymnast Jade Carey wins Olympic gold in floor exercise final

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

📷In photos: Day 10 Olympics highlights

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

Go deeper: Full Axios coverage

Updated 2 hours ago - Sports

Laurel Hubbard becomes first openly trans woman to compete at Olympics

Laurel Hubbard. Photo: Stanislav Krasilnikov\TASS via Getty Images

New Zealand weightlifter Laurel Hubbard made history on Monday as the first openly transgender female athlete to compete at the Olympics.

Why it matters: The presence of trans and nonbinary athletes at this year's Games has been celebrated by LGBTQ+ rights advocates, but stirred controversy among critics, who argue trans women have an unfair advantage even after taking hormones to lower their testosterone.

Index fund investors saved $357 billion over last 25 years

Illustration: Sarah Grillo/Axios

Investors who’ve opted to passively track the stock market haven’t just outperformed most active fund managers. They’ve also saved a ton of money in fees while doing it.

Why it matters: There are loads of active fund managers aiming to beat the returns of funds that track indexes like the S&P 500.