Competition Lore podcast

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Understanding the Elegant Math Behind Modern Machine Learning 1:14:43

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Artificial intelligence is evolving at an unprecedented pace—what does that mean for the future of technology, venture capital, business, and even our understanding of ourselves? Award-winning journalist and writer Anil Ananthaswamy joins us for our latest episode to discuss his latest book Why Machines Learn: The Elegant Math Behind Modern AI . Anil helps us explore the journey and many breakthroughs that have propelled machine learning from simple perceptrons to the sophisticated algorithms shaping today’s AI revolution, powering GPT and other models. The discussion aims to demystify some of the underlying mathematical concepts that power modern machine learning, to help everyone grasp this technology impacting our lives–even if your last math class was in high school. Anil walks us through the power of scaling laws, the shift from training to inference optimization, and the debate among AI’s pioneers about the road to AGI—should we be concerned, or are we still missing key pieces of the puzzle? The conversation also delves into AI’s philosophical implications—could understanding how machines learn help us better understand ourselves? And what challenges remain before AI systems can truly operate with agency? If you enjoy this episode, please subscribe and leave us a review on your favorite podcast platform. Sign up for our newsletter at techsurgepodcast.com for exclusive insights and updates on upcoming TechSurge Live Summits. Links: Read Why Machines Learn, Anil’s latest book on the math behind AI https://www.amazon.com/Why-Machines-Learn-Elegant-Behind/dp/0593185749 Learn more about Anil Ananthaswamy’s work and writing https://anilananthaswamy.com/ Watch Anil Ananthaswamy’s TED Talk on AI and intelligence https://www.ted.com/speakers/anil_ananthaswamy Discover the MIT Knight Science Journalism Fellowship that shaped Anil’s AI research https://ksj.mit.edu/ Understand the Perceptron, the foundation of neural networks https://en.wikipedia.org/wiki/Perceptron Read about the Perceptron Convergence Theorem and its significance https://www.nature.com/articles/323533a0…

Competition Lore Podcast

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Competition in a digital economy is a new frontier. Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells, Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded.

41 episoder

#Tech #Trading #Business News #Business #Government #Tech News #Caron Beaton-Wells #Competition Lore #Big Tech #News

Competition Lore Podcast

24 subscribers

updated for 5 år siden

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41 episoder

#Tech #Trading #Business News #Business #Government #Tech News #Caron Beaton-Wells #Competition Lore #Big Tech #News

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Developing policy at Facebook? 47:46

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If we regulate to protect privacy, do we risk competition? If we regulate to strengthen competition, do we risk innovation? If we regulate to exclude harmful content, do we risk free speech? Over-simplified perhaps, but these are in essence some of the hard questions in tech policy right now, and grappling with such questions from within a tech company must be one of the most challenging jobs there is. In this episode we are joined by Matt Perault, former head of global policy development at Facebook. Matt has looked the challenges squarely in the eye and shares with us how the social network giant has been dealing with them, together with his thoughts on how interactions between stakeholders can affect policy outcomes, for better or worse. It’s a rich and wide ranging conversation that you won’t want to miss. Matt has now taken on the role as Director of a Center for Science and Technology Policy at Duke University. The Center will act as an interdisciplinary hub for science and technology policy research and bring together stakeholders from the tech industry, government and academia to exchange insights and perspectives on policy development. Here are some of items on which we touched in the episode: Mark Zuckerberg’s recent speech at Georgetown University, Facebook’s Statement on a Privacy-Focused Vision for Social Networking and its White Paper on Data Portability. You can read a recent Opinion piece by Matt in the New York Times here . His Center is launching a podcast on tech policy, TechKnowledgey, so be sure to take a listen . Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

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Doing Digital in India? 33:33

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Across developing countries, connectivity through internet access and use, particularly on mobile devices, has vastly improved over the last decade. In large part this is due to the efforts of Big Tech and their strategies of reaching “the next billion users”. As welcome as such efforts may be, there are risks also for competition as a key driver of economic development and growth. So how have governments and competition authorities in developing countries been responding? In this episode we are joined by Shilpi Battacharya , Associate Professor at Jindal Global University, and Ujjwal Kumar, Policy Advisor at Consumer Unity and Trust Society . We discuss developments in India, a country where the authorities have been on the front foot in grappling with the issues and, as you’ll hear, the responses and outcomes to date have been mixed. Some of the discussion refers to a recent BRICs report on digital era competition. You can find the report here . Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded See omnystudio.com/listener for privacy information.…

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Being DG Comp's Chief Economist? 42:12

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There wouldn’t be too many more prized, and pressured, jobs than as Chief Economist at the European Commission’s Directorate-General for Competition, and particularly in recent years when DG Comp has been at the vanguard of developments in antitrust enforcement against Big Tech. Professor Tommaso Valletti has just completed his three year term as DG Comp’s Chief Economist and has much to share about his experience. In this episode we canvas what it’s like being in the “Brussels bubble”, working with Margrethe Vestager, why he has called himself “Professor Lipstick”, academic capture by Big Tech, charges of political interference in EU competition law enforcement, what the next chapter for DG Comp is likely to hold and much more. Tommaso is also well-known for his tweets and you can follow him on Twitter @TomValletti and/or read his academic work here . Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded See omnystudio.com/listener for privacy information.…

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Too much attention? 28:01

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Much of the antitrust discourse nowadays is about personal data and the implications of concentrated digital markets for our privacy. But, in focussing on data, have we been missing the wood for the trees? Are we in fact trading our scarce and precious attention for many of the supposedly free services we enjoy online? In this episode our guest, Associate Professor John Newman from the University of Miami, discusses his research on attention markets, why he thinks there are substantial individual and societal costs associated with concentration in these markets and the role for antitrust and regulation in responding to this under-explored problem. The episode was recorded in person at the Melbourne Law School during John’s visit to deliver a keynote on the topic Attention Scarcity, Technology and Law at the Digital Citizens Conference on 24-26 July. You can find John’s academic writing on this and related topics here and you might also dip into his blog . Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded See omnystudio.com/listener for privacy information.…

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Downunder's Dive into Digital Platforms 37:49

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The Australian Competition and Consumer Commission has completed its ground-breaking inquiry into digital platforms. What distinguishes this inquiry from many others is its broad holistic approach to competition, consumer, unfair trading, privacy and public interest issues. It has a focus on the media and advertising sectors but, if accepted, many of its 23 recommendations will have economy-wide effects. In this episode you will hear from Morag Bond and Kate Reader, the joint general managers of the Inquiry team. We discuss the methods employed for information-gathering in the Inquiry, how hotly contested issues were dealt with and the thinking behind the key conclusions and proposals for reform. You can find the website with all the documents relevant to the ACCC Digital Platforms Inquiry here . And if you would like to read my short article on ten key take outs from the Final Report, you can find that here . Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded See omnystudio.com/listener for privacy information.…

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Law unto themselves? 43:01

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The pervasiveness of platforms in our societies is hard to ignore. It has wide ranging effects on and implications for our economic, social and cultural practices and lives. Some focus on the dominance of digital platforms as a failing of antitrust and call for an entire overhaul of the intellectual enterprise. Others go further. One of those is the guest on this episode, Professor Frank Pasquale of the University of Maryland, author of the widely acclaimed book, The Black Box Society: The Secret Algorithms that Control Money and Information . For Frank, the societal concerns raised by platform dominance cannot be dealt with adequately as a matter of economic analysis. Rather, the culture, practices and effects of these companies raise fundamental questions about the type of society we want to live in. In light of this, it behoves us, he argues, to engage in a holistic philosophical inquiry, one that concerns our collective values and is not reduced to the methodological individualism of neoclassical economics. His call to action is a wholesale wresting back of control by the state. This episode was recorded before a live audience at the Melbourne Law School on the occasion of Frank’s visit for the Digital Citizens Conference held 24-26 July. You can read some of Frank’s writing here and his book, The Black Box Society, is available here . You can follow him on Twitter @FrankPasquale. Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded See omnystudio.com/listener for privacy information.…

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Solutions from Stigler? 40:58

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The George Stigler Centre at the University of Chicago Booth School of Business has been undertaking a wide ranging study of digital platforms . One aspect of the study has a focus on market structures in digital platform markets and the antitrust implications. Other aspects explore privacy and data protection, media and the political system. Each of these aspects of the study have been examined by a subcommittee which has produced a report with its key findings and recommendations, to facilitate further discussion and inform policymaking. Our guest in this episode is Professor Fiona Scott-Morton from the Yale School of Management. Fiona chaired the subcommittee focussing on market structures and antitrust. We discuss the analysis in the report and Fiona shares her views on the antitrust reforms and regulation needed to tackle the challenges posed for competition in digital platform markets. You can find the report here . Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded See omnystudio.com/listener for privacy information.…

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More on digital mergers? 36:03

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Between them GAFA have made more than 400 acquisitions over just the last 10 years. With the benefit of hindsight, many of these acquisitions have been portrayed as strategic or killer acquisitions, designed to snuff out potential or emergent competitive threats. Recognising this, there is a growing view that competition authorities must be more prepared to protect competitive market structures and to do so may require changes in the approach taken to error cost and counterfactual assessments in merger review. In this episode our guest is Dr Paolo Buccirossi , Founder and Director of the economics consultancy, Lear. Lear has undertaken a first-of-its kind report for the UK Competition and Markets Authority involving ex post assessment of a series of mergers in the digital sector that were cleared. We discuss the report’s key findings and consequent recommendations for future merger practice. The report also reviews the theories of harm typically examined by competition authorities in such cases and considers their consistency with the burgeoning economic literature in this area. While we did not canvas these parts of the report in the episode, they are definitely recommended reading. You can find the Lear report here . Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded See omnystudio.com/listener for privacy information.…

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Big Tech politics? 42:47

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If you spend any time reading the US press you will have realised that there’s recently been a potentially dramatic series of developments when it comes to Big Tech antitrust. Investigations, congressional hearings and even break ups are all on the menu. In this episode our guest is Matt Stoller , Fellow at the Open Markets Institute , a US think-tank on a mission to address threats posed to democracy from monopoly power. Matt’s daily diet is the politics and policy of antitrust and he guides us through the cast of characters and scripts of recent events, while at the same time sharing his perspective on why we should look at Big Tech issues through an ideological, not just a methodological lens. Matt’s book, Goliath: The 100 Year War Between Monopoly Power and Democracy , will be released in October. Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded See omnystudio.com/listener for privacy information.…

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Blockchain antitrust – old wine in new bottles? 28:35

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Blockchain is a technology that both bedazzles and bewilders! For its hard core advocates, it is seen as the answer to the problem of concentrated power on the internet. For others, its workings are as impenetrable as its implications. In this episode we are joined by Dr Thibault Schrepel , Assistant Professor at the Utrecht University School of Law and Faculty Affiliate at the Harvard Berkman Center, who has made researching and teaching blockchain antitrust his specialty. We canvas the risks of anti-competitive conduct on blockchain and the challenges it is likely to pose for authorities in enforcing the competition rules. For those who are fairly new to the topic, you may find it useful to listen first to episodes 23 and 24 in which we laid the groundwork for this episode with an explanation of what this technology involves and whether it might pose a threat to Big Tech. You can also find Thibault on his innovative website, Concurrentialiste , or follow him on Twitter @LeConcurrential, and I highly recommend his recent blockchain papers: Is Blockchain the death of Antitrust Law? The Blockchain Antitrust Paradox , 2018 Collusion by Blockchain and Smart Contracts , 2019 Antitrust Without Romance , 2019 Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

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The weird and wonderful world of ads? 43:17

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Digitalisation has transformed the advertising industry. Not only are advertisers now able to target consumers to a far greater extent than was possible with traditional advertising, but they are also able to track and assess the performance of their ads in ways previously unimaginable. What makes this all possible is the treasure trove of data that we, as consumers, generate with our inexhaustible digital footprints. But does it necessarily mean that the firms with the largest data-sets hold substantial power in advertising markets? That is a question being studied by policymakers and competition authorities around the world and it’s one on which minds clearly differ. In this episode we are joined by Catherine Tucker , Professor of Management Science and Marketing at the MIT Sloan School of Management. Catherine shares her insights from years of empirical research into advertising and the tools and techniques that make it effective. The diagram depicting the complex digital advertising eco-system to which Catherine refers in the episode can be found here , and if you would like to learn more about Catherine’s research, her publications are on SSRN . Her disclosure statement can be read here . Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

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Unlocking digital competition 46:23

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An expert panel appointed by the UK government has recently released its report on changes to competition policy to help unlock the opportunities of the digital economy. One of the co-authors, Professor Philip Marsden , describes it as a “quintessentially British” contribution to the global debate on whether we need adjustments to the law and/or regulation to deal with the competition challenges posed by power in digital markets. As a former enforcer at the UK Competition and Markets Authority, current Deputy Chairman of the Enforcement Decisions Committee of the Bank of England, Member of the Financial Conduct Authority/PSR Competition Decisions Committee and Member of the OFGEM Enforcement Decisions Panel, Philip looks at these issues through both practical and academic lenses. In the episode he shares the key findings and recommendations of the report and explains why he hopes it will provide the cut-through sorely needed in a noisy and polarized discourse. The report is available here and I also recommend you read Philip’s recent contributions to Competition Policy International: Who Should Trust-Bust? Hippocrates not Hipsters , 2018 Leave, Remain & Common Ground: Pragmatism in Dealing with Tech Giants , 2019 You can also follow Philip on Twitter @drphilipmarsden. Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

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Big Tech Banking? 44:03

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Just over a decade after a financial crisis that shook the world, regulators have worked over time to move the financial system from the brink of chaos back to safe ground. But while the preoccupation has been with financial stability, in many countries, it has not been good news for competition. Technological developments and data innovations have opened up more choice and new ways of banking for consumers. Nevertheless, many see Fintech as falling short of a serious challenge to the traditional incumbents. In the meantime, governments too have been making concerted moves to empower consumers through open banking initiatives. All this though may pale in comparison to the looming and some might say present threat that Big Tech poses to Big Banking. In this episode our guest is Dr Jorge Padilla , Head of Compass Lexecon Europe and a highly credentialled and respected antitrust economist. Jorge shares his reflections on the state of the global banking industry today and why he regards it as ripe for disruption by the major digital platforms. We also explore what types of regulatory measures would be required to ensure a level playing field for competition between banks and their new rivals as well as to shore up financial stability. I highly recommend Jorge’s paper on Big Tech Banking which you can read here . Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

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Consumers as prey for AI 45:11

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The advent of algorithms, machine learning and artificial intelligence have led some to argue that we are living in an age of “mass personalisation”. While the benefits of these technological advances are largely self-evident, there is a growing chorus of alarm. Concerns include increased risks of consumer manipulation, discrimination, loss of diversity and ultimately a loss of autonomy or the capacity to choose. Are we being suckered on a scale never seen before and how should consumer laws and regulation respond? Are there responses that provide adequate consumer protection while at the same time not stifling the competition and innovation from which we all benefit? These questions are explored in this episode with Professor Jeannie Paterson of the University of Melbourne Law School. Jeannie is researching the impact of automation and artificial intelligence on consumer choice and decision-making and is the co-convenor of the University’s Digital Citizens Research Network . If you would like to read her recent think piece on combatting bias and discrimination in AI, you will find it here . In the episode Jeannie refers to research on consumer attitudes towards data collection and sharing conducted by the Consumer Policy Research Centre. You can read more about the research here . Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

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The distinctive DNA of EU antitrust? 46:01

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Neither the law nor economics are value-neutral sciences. If we are to understand why and how competition laws operate in a certain way in an individual jurisdiction, we need to understand the underlying values and belief systems that inform and shape its design and enforcement. In this episode, we are joined by Slaughter & May Professor of Competition Law and Director of the Centre for Competition Law and Policy at the University of Oxford, Ariel Ezrachi. Ariel shares his insights on the values that underpin European competition policy and law, the ways in which they inform the pluralistic objectives of the law and affect its enforcement. In the course of the discussion, not surprisingly, the Bundeskartellamt’s decision in relation to Facebook’s data practices comes up. Here are two of Ariel’s recent papers in which you can read more of his thinking on these issues: EU Competition Law Goals and the Digital Economy , 2018 Sponge , 2016 Other papers by Ariel, many relevant to issues raised by competition in digital markets, can be found here . And I highly recommend his recent book, co-authored with one of our other guests on the podcast, Professor Maurice Stucke (episodes 1 and 5), Virtual Competition: The Promise and Perils of the Algorithm Driven Economy (HUP, 2016). Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

Competition Lore Podcast

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Radical thoughts? 40:46

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In this final (for now) episode in our series on blockchain, we move beyond the economic and legal analysis to consider whether this technology might inform and be part of a broader movement for political and social change. We are joined by Glen Weyl , founder and Chairman of the RadicalxChange Foundation, Principal Researcher at Microsoft and Visiting Research Scholar at Princeton University’s Woodrow Wilson School of Public and International Affairs. He is co-author with Eric Posner of the radical book, Radical Markets: Uprooting Capitalism and Democracy for a Just Society , a blueprint for upending and replacing many of the institutions that underpin our current economic and political systems so as to create a fairer, more equal and more democratic society. In a highly thought provoking discussion, co-hosted with Dr Thibault Schrepel (our guest on episodes 23 and 24), Glen explains some of the core ideas in his writing and relates them to his critique of the current state of the blockchain industry. For Glen, the decentralised vision of blockchain falls far short of the reality. But he sees the vision as valuable nevertheless in inspiring us to think about how distributed data structures and mathematical technologies might be harnessed in re-imagining the type of society in which we want to live. You can find out more about Glen and his work on his website . And here is the joint paper with Vitalik Buterin (Ethereum) referred to in the episode, Liberal Radicalism: A Flexible Design For Philanthropic Matching Funds . Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

Competition Lore Podcast

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What in the world is blockchain? 26:56

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Blockchain is not just bitcoin. It’s a general purpose technology that some say has the potential to revolutionise swathes of the economy, creating a new, more efficient, more secure way to exchange information and value. But just as was true of the early days of the internet, a real understanding of blockchain technology eludes many of us, making it difficult to think meaningfully about its promise and its pitfalls. In this episode we are joined by Dr Thibault Schrepel , Assistant Professor at the Utrecht University School of Law. Thibault has made blockchain and its antitrust implications his specialty and in this episode, he walks us through the nuts and bolts of the technology. Having graduated from Blockchain 101, in the next episode, join Thibault and me in a discussion about why blockchain is causing so much excitement but at the same time is likely to pose challenges for competition law enforcement. You can also find Thibault on his innovative website, Concurrentialiste , or follow him on Twitter @LeConcurrential. Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

Competition Lore Podcast

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Blockchain as the death of antitrust? 24:39

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Blockchain technology and smart contracts hold some promise for reinvigorating competition, providing more efficient and secure ways of doing business on the internet, while at the same time lifting the bar in data protection and privacy. But is this new general purpose technology all that it’s made out to be? Will it challenge the power of the major digital platforms? And what are the risks that blockchain itself will become concentrated and fall prey to anti-competitive conduct? In this episode, Dr Thibault Schrepel , Assistant Professor at the Utrecht University School of Law, takes on these challenging questions. Much of the discussion assumes a basic understanding of blockchain technology. So for those who are fairly new to the topic, you may find it useful to listen first to our Blockchain primer in episode 23. You can also find Thibault on his innovative website, Concurrentialiste , or follow him on Twitter @LeConcurrential, and I highly recommend his recent blockchain papers: Is Blockchain the death of Antitrust Law? The Blockchain Antitrust Paradox , 2018 Collusion by Blockchain and Smart Contracts , 2019. Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

Competition Lore Podcast

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Big Tech, Fake News? 24:35

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Donald Trump’s frequent railings about “fake news” have gone viral, possibly even more so than the so-called “fake news” itself. For some, however, the proliferation of fake news on digital platforms is a serious problem. And many are asking whether it is a problem caused by the power of Facebook and Google over when, where and how we consume news. This episode investigates the meaning of the now often used, if not abused, term “fake news”. It explores whether this is a phenomenon that relates to competition and, if so, whether it is a reflection of too little competition, or indeed, too much. The episode features observations and insights from various commentators. If you would like to listen to the full accounts, you can find them as follows: Donald Trump Vergel Santos , Center for Media Freedom and Responsibility Roger McNamee , Elevation Partners Craig Silverman , BuzzFeed Sally Hubbard , Capitol Forum Mark Thompson , New York Times Tim Wu , Columbia Law School Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

Competition Lore Podcast

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What's the "right" regulation for Facebook? 55:27

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Facebook has been taking fire on a host of fronts from governments and regulators around the world. One of the latest to take aim is the Australian Competition and Consumer Commission in its Inquiry into Digital Platforms and their impact on media and advertising sectors. In episode 20 of the podcast Dr Katherine Kemp explained the key findings and recommendations in the ACCC’s preliminary report, in which the Commission proposed changes to merger review and increased regulatory scrutiny as responses to Google and Facebook’s dominance of search, social media, advertising and news referral services markets. In this episode, Facebook’s Associate General Counsel, Competition, Sam Knox explains why the social media giant regards many of the findings to be flawed and why the proposed new measures are either misguided or may in fact harm consumers. The Inquiry website, with links to the Preliminary report and submissions, can be found here . By way of postscript to the episode, in yet more bad news for Facebook, the German competition authority has decided that its fusion of data sets from across different services constitutes an exploitative abuse of dominance and has made orders for data separation in the absence of user consent. The Bundeskartellamt’s decision is here and Facebook’s initial response here . Aside from assisting in setting up the interview, Facebook had no other input to the production of this episode. Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

Competition Lore Podcast

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Platforms, ads and the media? 40:44

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40:44

Traditional media has been transformed by technological change and across the world, governments and regulators are contemplating the impact of the disruption on the production and consumption of news. Central to this consideration is the influence of digital platforms, Google and Facebook particularly, which now in large part shape what news content we consume and when and how we consume it. Crucial to the platforms’ role as news gateways is the advertising that funds their business models, transferring revenue substantially away from news organisations in favour of the search and social media giants. The Australian Competition and Consumer Commission has been conducting an inquiry into the impact of digital platforms on media and advertising markets and has recently released its preliminary report. In this episode Dr Katharine Kemp from the University of New South Wales steers us through the detailed maze of factual and legal analysis and draws attention to the key findings and principal recommendations as they relate to advertisers and news organisations. The inquiry website, with links to the Issues Paper, submissions and the preliminary report, can be found here . You can also read Katharine’s initial reaction to the report in a think piece published on The Conversation here . Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

Competition Lore Podcast

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Competition and engineering? 38:56

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38:56

Why is the United States falling behind global competition standards? What drives Margrethe Vestager in leading the European Commission’s aggressive stance on big tech? Why did the Federal Trade Commission walk away from its Google investigation? And why should agencies focus on solutions to market problems, not just big cases and massive fines? These are just some of the topics canvassed in this episode on competition institutions in a digital age, with Professor William Kovacic of George Washington University and King’s College London. Bill has an encyclopedic knowledge of competition systems and agencies around the world and a deep understanding of what shapes and determines their effectiveness. He has published extensively on this subject and is in constant demand for his sage counsel on how to evaluate and improve agency performance. You can find many of his publications on his SSRN page here . Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

Competition Lore Podcast

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2018 Competition Lore Highlights 23:20

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23:20

As the year draws to a close, this episode takes us on a short stroll down memory lane, re-capping key debates and recurring themes and reliving some of the highlights and the lighter moments from the Competition Lore discussion over its first six months. Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

Competition Lore Podcast

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The Myth of Capitalism? 28:31

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28:31

“Capitalism without competition is not capitalism”. That is the fundamental and irrefutable premise of a new book by Jonathan Tepper and Denise Hearn, The Myth of Capitalism: Monopolies and the Death of Competition , named one of the best economics books of 2018 by The Financial Times. Tepper and Hearn launch a stinging attack on high concentration and insipid competition in the US economy today, documenting and explaining its symptoms and side effects at length. This is a polemic that takes no prisoners. Dysfunctionality and capture of the political, regulatory and academic establishments are recurring themes and, not surprisingly, Big Tech is singled out for special treatment. The book mounts an extensively researched and engagingly written case for an overhaul of antitrust enforcement to fix the problem. It's a call to arms, exhorting legislators and courts to ensure that antitrust laws play their part in administering the dose of reinvigorated competition that Tepper and Hearn argue is sorely needed. Faltering productivity, stymied innovation, stagnant wages growth and rising inequality are not just concerns for the US, however. They are the preoccupations of economic policymakers and enforcement agencies in many countries around the world, making the book a valuable resource with international relevance. In this episode, Jonathan shares the key insights from the book and defends its thesis against the arguments that most commonly feature on the opposing side of the debate. For more details and to order the book, you can visit The Myth of Capitalism website . For more about Jonathan Tepper, he has his own personal website , and you can follow him on Twitter @jtepper2. Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

Competition Lore Podcast

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What's in the water in Germany? 40:46

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40:46

The German legislature and competition agency are on the front foot in shoring up antitrust laws and taking action to deal with the challenges raised by a digital economy. Merger notification rules have been amended to ensure that acquisitions of small but significant competitors by the tech giants do not fall through the net. The Bundeskartellamt is engaged in a controversial investigation of Facebook’s data collection practices. And a raft of new regulation for platforms is on the drawing board, as well as potentially far-reaching changes to abuse of dominance laws to deal with intermediation power and market tipping. In this episode of Competition Lore, Professor Rupprecht Podszun of the Heinrich Heine Universitat Dusseldorf explains these developments, what’s behind them and why they are likely to be influential across Europe. Industrial policy, politics and the philosophical underpinnings of German competition law all feature in the fascinating discussion. You can access the new statutory provisions in the German competition legislation introduced in 2017 here . The Bundeskartellamt’s preliminary assessment in its Facebook proceeding is available on its website . And the report on Modernising the Law on Abuse of Market Power is also available online . Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

Competition Lore Podcast

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Google, our "God"? 39:42

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39:42

When grappling with competition issues in the digital economy, Google is often the first name to come up. The tech powerhouse has been in the firing line of competition authorities in Europe. Its business model and strategies have sparked intense debate about what big data and big analytics mean for competition and how or even whether antitrust enforcers should respond. And, yet, for users who share their most intimate details with the search engine, Google has been equated with a "modern-day God". In this episode of Competition Lore, I am delighted to share the opportunity that I had to discuss these and related issues with Google’s Chief Economist, Hal Varian . Hal was not only generous with his time but with his views ranging from general topics such as the role of economics and populism in antitrust to specific issues raised by the European Commission’s decisions against in the Shopping and Android cases. Aside from setting up the interview, Google had no other input to the production of this episode. Hal hinted in the episode at a second edition of his co-authored best-selling book; let’s hope we can hold him to that! But if you want to read the first edition, it is Information Rules: A Strategic Guide to the Network Economy . The episode features an interjection from Professor Scott Galloway with his thesis that Google is a “modern day God”. You may find his book, The Four , of interest or you could listen to his TED Talk . Or, if you’re one of those who likes to contemplate whether there is “life after Google”, then you should read the book by George Gilder, Life After Google: The Fall of Big Data and Rise of the Blockchain Economy , also referred to in the episode. Or you could just watch this on Youtube. Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

Competition Lore Podcast

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Why do we need maverick academics? 32:26

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32:26

Academics are making an important contribution to current debates regarding the policies and laws that govern competition in the digital era. Independence and objectivity in academic research are crucial to the value and impact of that contribution. In this second episode in our mini-series on Academics and Big Tech, you’ll hear from Professor Ioannis Lianos of University College London on why he considers there to be serious risks to the integrity of academic research as a result of undisclosed funding by large tech companies. The episode is a sequel to episode 13 in which Professor Daniel Sokol gave us a quite different perspective on these issues. However, this episode goes further, to explore why and how the playing field for research funding could and should be made more level and the importance of fairness in funding to allow for research that pushes the boundaries and tests the status quo. You will find the Academic Society for Competition Law’s Declaration of Ethics referred to in the episode here and you can read about Ioannis’s efforts to promote greater disclosure of corporate funding for academic research here . If you would like to read Ioannis’s latest thinking on how mainstream doctrines in competition law should be challenged, I highly recommend this paper: The Poverty of Competition Law , 2018. Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

Competition Lore Podcast

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Academics in the Age of Big Tech? 30:48

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30:48

Technological transformations are raising a host of legal and economic issues that are keeping competition law academics very busy! But are there risks to academic independence in the era of big tech? And are they any different to the experience with big oil, big tobacco, big pharma? Recently there has been publicity surrounding the extent to which large tech companies are funding academic research that supports their policy and legal objectives. Some are concerned that this threatens the integrity and value of the academic enterprise, particularly when there is non-disclosure of funding or potential conflicts of interest. Others are more accommodating, conscious of the impact of cut backs in government funding for research and keen to see greater engagement between universities and private enterprise. In this episode of Competition Lore, we hear from one of the antitrust scholars in the thick of the debate. Professor Daniel Sokol is from the University of Florida Levin College of Law and is also an attorney at Wilson Sonsini Goodrich & Rosati , a client of which is Google. Danny shares his thoughts on being implicated personally in the campaign against so-called “Google Academics” and we talk about what it means to be a modern day scholar with a range of roles inside and outside of academia. Here is a sample of Danny’s recent work in relation to antitrust issues and big tech: The Cambridge Handbook of Antitrust, Intellectual Property, and High Tech , 2017 Understanding Online Markets and Antitrust Analysis , 2017 (with Jingyuan Mua) Responding to Antitrust and Information Technology , 2017 Does Antitrust Have a Role to Play in Regulating Big Data?, 2016 (with Roisin Comerford) The Broader Implications of Merger Remedies in High Technology Markets , 2014 The Google Transparency Project report referred in the episode can be found here . Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

Competition Lore Podcast

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GAFA in China? 33:46

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33:46

“I think it’s hard to have a mission of wanting to bring the whole world closer together and leave out the biggest country..”. That was Mark Zuckerberg’s response when asked recently about Facebook’s record of attempted entry into China. By and large GAFA have struggled to compete in the largest economy in the world. Meanwhile BAT (the homegrown tech trio, Baidu, Alibaba and Tencent) represent the new Chinese dragons, dominating in search, e-commerce, messaging, AI and other digital market spaces. In this episode of Competition Lore Dr Wendy Ng , a specialist in the political economy of Chinese competition law at the University of Melbourne, shares her insights on the context that shapes the way in which the Anti-Monopoly Law works in China. We canvas how the political and socio-cultural dynamics influence the law’s enforcement and the approach taken to abuse of dominance in particular. She explains the co-dependent relationship between the powerful domestic tech companies and the government and what challenges face their US counterparts. Issues of digital protectionism come up! For anyone practising in this field in China or wanting to understand the context in which Chinese competition law operates, I highly recommend Wendy’s book: The Political Economy of Competition Law in China , 2018. And here is a sample of some of her other recent papers on related topics: T he Influe nce of Soci alist Prin ciples o n th e Leg al Reg ulation o f M arkets i n China: Th e A nti-Monopoly Law , 2018 The I ndepend e nce o f Chinese Co mpetition Ag encies a n d t he Impa ct on Competition Enforcem ent in China , 2015 Policy Objectives of Public Enforcement of the Anti-Monopoly Law: An Assessment of the First Five Years , 2015 You can follow Wendy on Twitter at @wendyengee. Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded . See omnystudio.com/listener for privacy information.…

Competition Lore Podcast

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Android – An Open Or Shut Case? 30:21

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30:21

On 18 July this year Margrethe Vestager, Europe’s competition czar, announced a record €4.3 billion fine against Google in relation to various practices concerning Android, the search giant’s popular mobile operating system. It comes just over a year after the European Commission’s €2.4 billion fine in the so-called Google Shopping case, discussed with Professor Pinar Akman on episode 7 of Competition Lore. The Android case relates to complex contractual agreements that Google requires phonemakers to sign if they want to access the company’s popular digital services, in particular the ‘must have’ Google Play Store. The decision sparked a barrage of commentary, for and against, not least in the latter camp from the Google CEO who argues that the Android story is one of “more competition not less” in the mobile eco-system and to the benefit of now more than 2 billion Android phone users. In this episode of Competition Lore you’ll hear from Professor Nicolas Petit and Professor Simonetta Vezzoso , two of the many commentators who are dissecting the decision and who have very different views on whether the European Commission got it right. You'll also hear from Margrethe Vestager, the European Competition Commissioner, and from Sundar Pichai, the Google CEO! Full reasons for the decision are yet to be released. In the meantime, you can read the press release here and watch the announcement by Margrethe Vestager at the press conference here . You can follow developments in Nicolas’s and Simonetta’s thinking about the case and other aspects of competition and big tech on Twitter or their blogs and you might also be interested in some of their longer form writing: Nicolas @CompetitionProf https://symphonyofdisruption.org/ EU engaged in antitrust gerrymandering against Google , 2018 'Big is bad' narrative is simply untrue in high-tech sector , 2018 (with Richard Sousa) The Misguided Assault on the Consumer Welfare Standard in the Age of Platform Markets , 2018 Technology Giants, the Moligopoly Hypothezis and Holistic Competition: A Primer , 2016 Simonetta @wavesblog https://competitionwave.blogspot.com/ Android and Forking Rest rictions: On the Hidde n Closedn ess of “Open”, 2018 Fintech, Access to Data, and the Role of Competition Policy , 2018 Competition by design , 2017 Online Platforms, Rate Parity, and the Free Riding Defence , 2016 Featuring regular cut-through interviews with leading thinkers, movers and shakers, Competition Lore is a podcast series that engages us all in a debate about the transformative potential and risks of digitalised competition. Join Caron Beaton-Wells , Professor in Competition Law at the University of Melbourne, to tackle what it means to participate as a competitor, consumer or citizen in a digital economy and society. Competition Lore is produced by Written & Recorded See omnystudio.com/listener for privacy information.…

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