Second Request

Listen in as Capitol Forum Executive Editor Teddy Downey interviews the authors of a recent paper entitled “The Re-Monopolization of the U.S. Sports Trading Card Industry.” Authors Marc Edelman, Nathaniel Grow and John Holden discuss the history of US sports trading cards leading up to sports retailer Fanatics’ consolidation of the $8B industry. Learn how Fanatics used exclusive sports-licensing agreements to achieve the monopoly and what the potential implications are for the industry and for consumers.

Hear senior policy analyst at Economic Liberties Shahid Naeem discuss his findings from a recent report on the proposed Capital One/Discover merger, which, if approved, would create the U.S.’s sixth-largest bank and No. 1 credit card issuer. Shahid evaluates the strength of Capital One’s “merge-to-compete” defense in an increasingly challenging enforcement environment.

On the latest episode of The Capitol Forum’s Second Request podcast, Executive Editor Teddy Downey speaks with one of the world’s best known and most respected antitrust/competition enforcers, Bill Baer. As the only person to have led antitrust enforcement at both U.S. antitrust agencies, Bill offers unique insight into how antitrust enforcement has changed over the years and what challenges and opportunities current enforcers face.

On this episode of Second Request, renowned antitrust expert Cristina Caffarra talks to Executive Editor of The Capitol Forum, Teddy Downey, about how the major shift underway in US antitrust is propagating across the globe. Listen to the podcast to learn what implications the shift has for antitrust, trade and industrial policy across the US, Europe and the Global South. They also cover developments that have come out of Cristina’s groundbreaking conference in Brussels: Antitrust, Regulation and the Next World Order.

On this episode of Second Request, The Capitol Forum’s Teddy Downey speaks with former FTC deputy director and DOJ trial attorney, John Newman, about the current antitrust landscape in the US. Currently a Professor of Law at Miami University, John is an expert on antitrust and competition law, with a primary focus on the economics and regulation of digital markets. Listen to the podcast to hear them discuss the latest FTC cases and how AI is shaping antitrust law.

Experienced election analyst Michael Podhorzer talks to Executive Editor of The Capitol Forum, Teddy Downey, about the 2024 presidential election. Listen to the podcast to learn more about what polling and historical voting patterns can and can’t tell us about prospective outcomes. They also discuss the roles and responsibilities of the press during election cycles.

404 Media co-founder and journalist Joseph Cox discusses his latest investigation into how hackers and fraudsters are illegally accessing sensitive drug ordering tools and then advertising some of the most tightly controlled drugs in the country, including fentanyl. Communicating directly with the hackers and fraudsters themselves, Joseph was able to uncover how they are gaining access to legitimate drug ordering services. Listen to the podcast to learn about the methods they use and why unsecure “credit header data” is at the root of many of these compromises.

On this episode of Second Request, Executive Editor of The Capitol Forum, Teddy Downey, speaks to former Deputy Director for the National Economic Council Bharat Ramamurti about the White House’s approach to improving competition across all sectors of the economy. During his time on the National Economic Council, Bharat played a key role in developing the President’s Executive Order on Competition, which set forth 72 provisions for steps federal agencies can take to promote competition. Listen to the podcast to learn how the Executive Order reflects the president’s specific competition priorities and to hear about some of the successes that have already come out of it, including the newly established Competition Council.

On this episode of Second Request, executive director of Clean Virginia, Brennan Gilmore, discusses the biggest successes and challenges Clean Virginia has experienced working to advance clean government and clean energy. Listen to the podcast to learn about the history of Virginia’s monopoly utility regulation and the influence Dominion Energy, Virginia’s largest utility, has had on how the state’s energy is structured. You'll hear why Clean Virginia blames a misaligned incentive structure and political influence for years of customer overcharges, poor energy efficiency, and lack of market competition and what they are doing to change it.

Jack Ryan, cofounder and CEO of the real estate brokerage REX, and Darren McCarty, lead lawyer in the current antitrust litigation for REX, discuss the recent litigation against the National Association of Realtors and what it means for the future of residential real estate.

Legal expert Seth Bloom delves into the Google antitrust trial, amidst the current legal landscape, tech trends, and evolving regulatory environment. Analyzing the trial's dynamics, he and host Teddy Downey explore the role of Judge Mehta, potential outcomes, and the broader implications for the tech industry. The conversation extends to AI, cloud computing, and algorithmic accountability, touching on issues surrounding YouTube and children's privacy.

Kevin Erickson, director of the Future of Music Coalition, discusses the DOJ and State AGs’ monopolization investigations into Live Nation and how anticompetitive conduct in the industry hurts musicians and fans. Kevin and host Teddy Downey lay out what regulators, enforcers, and policymakers can do to encourage competition, diversity of practice, and creative autonomy in the live music marketplace.

Dr. Michael J. Birrer, an expert in oncology, discusses the complexities of generic oncology drug shortages, exploring the root causes and potential solutions to this recurring problem. Dr. Birrer shares his perspectives on the impact of reimbursement policies, the role of government intervention, and the need for a more streamlined FDA process. The discussion also touches on the influence of insurance companies, the quality of medical expertise in insurance decisions, and the broader landscape of oncology drug development.

On the latest episode of Second Request, Associate Professor of Law Matthew Wansley and Professor of Law Samuel Weinstein of Cardozo School of Law discuss their recent article entitled “Venture Predation” published in the Journal of Corporation Law. Speaking with The Capitol Forum’s Teddy Downey, Matthew and Samuel explain the economics and history behind venture predation and why we currently see very little enforcement of the practice. Download the podcast to hear descriptions of some of the high-profile case studies addressed in their article, including Uber, WeWork, and Bird and learn what these examples can show us about venture predation’s harmful impact on consumers, communities and innovation.

On this episode of Second Request, Teddy Downey and the FTC’s Shaoul Sussman discuss the new draft merger guidelines from the FTC and DOJ. Shaoul describes some of the market dynamics, economic conditions and case law reflected in the new guidelines, and why the agencies thought it was time for an update: The agencies “have a mandate to make the guidelines more accessible and provide clear rules of the road, both for CEOs that contemplate a merger and also for the public to understand what goes into how we think about cases.” Listen to the podcast to hear them delve into some of the language and intentions of individual guidelines, including:

On July 20, Capitol Forum Executive Editor Teddy Downey spoke with Diana Moss, President of the American Antitrust Institute (AAI), about what a LiveNation-Ticketmaster monopoly breakup could look like. The AAI recently published a deep dive on vertical integration of Live Nation and Ticketmaster as well as proposed remedies. On the podcast, Diana describes the legal climate around vertical mergers in 2010 when the two companies first merged: “We had this whole gestalt around vertical mergers being viewed as pro-competitive, getting a lot of deference in enforcement cases, no case law. And that merger, Live Nation/Ticketmaster, was especially egregious because Ticketmaster had about 80 percent share in primary ticketing.” To put that statistic in perspective, Diana sites the new, proposed merger guidelines, which describe 50 percent share as a presumption of anti-competitive outcomes. The current result, she points out, is a lack of choice for everyone involved: “Venues have no choice, or very little choice, but to go to Ticketmaster. Artists have very little choice but to go to Ticketmaster for ticketing. Even Taylor Swift had to do this. She was promoted by AEG, which is a competing concert promoter, but AEG didn't have the ticketing services. So Ticketmaster was the only option.” Listen to the full podcast to hear about: The complications of secondary markets Retaliation fears from artists and independent venues Historical breakup precedents Potential remedies, including the drawbacks to conduct remedies

In the latest episode of Second Request, Teddy interviews Bob Lande on the impact of textualism on merger analysis. Bob Lande is Venable Professor of Law Emeritus at the University of Baltimore School of Law and a board member for the American Antitrust Institute who has written about the use of textualism in antitrust enforcement and the way it affects statutory interpretation in a recent article for the Utah Law Review and a presentation to the FTC. Due to its emphasis on “precise language,” Bob argues that rather than leading to more conservative antitrust decision making by the courts, textualism should lead to the exact opposite: “Textualism should lead, if anything, to more aggressive antitrust enforcement….This is because the Sherman Act, the FTC Act and the Clayton Act are all products of the progressive era. It's not surprising that their precise language is very pro-consumer and very anti-monopoly.” Listen to the podcast to hear Teddy and Bob discuss: • Section 7 language • The express efficiencies defense • Monopolization

On April 23, 2021, Rob Bonta was sworn in as the 34th Attorney General of the State of California, the first person of Filipino descent and the second Asian-American to occupy the position. Attorney General Bonta's passion for justice and fairness was instilled in him by his parents, who served on the frontlines of some of America's most important social justice movements. Instilling in him the lessons they learned from the United Farm Workers and the civil rights movement, Attorney General Bonta's parents lit a fire inside him to fight against injustice — to stand up for those who are taken advantage of or harmed. It's why he decided to become a lawyer — to help right historic wrongs and fight for people who have been harmed. He worked his way through college and graduated with honors from Yale University and attended Yale Law School. In the State Assembly, Attorney General Bonta enacted nation-leading reforms to inject more justice and fairness into government and institutions. As the People's Attorney, he sees seeking accountability from those who abuse their power and harm others as one of the most important functions of the job. In elected office, he has taken on powerful interests and advanced systemic change — pursuing corporate accountability, standing up for workers, punishing big polluters, and fighting racial injustice. He has been a national leader in the fight to transform the criminal justice system, banning private prisons and detention facilities in California, as well as pushing to eliminate cash bail in the state. He has led statewide fights for racial, economic, and environmental justice and worked to further the rights of immigrant families, renters, and working Californians.

Stacy Mitchell is Co-Executive Director of the Institute for Local Self-Reliance, a research and advocacy organization that challenges concentrated corporate power and works to build thriving, equitable communities. ILSR has been a pioneering leader in the growing anti-monopoly movement and has a long track record of working alongside grassroots groups to develop better alternatives, from community-owned broadband, to independent businesses, to distributed solar. Stacy recently wrote an opinion piece in the New York Times titled The Real Reason Your Groceries are Getting More Expensive, and has advocated for the FTC revitalizing the anti chain store legislation known as the Robinson Patman Act. Stacy has also produced pivotal research and reporting on the policies driving the decline of small businesses and the economic and political consequences of monopoly power. In 2020, she was profiled by the New York Times for her analysis of Amazon’s power and her leadership in building a broad coalition to counter it. Her reports and articles about the tech giant have drawn a wide and influential readership. The House Judiciary Committee cited her research extensively in its “Investigation of Competition in Digital Markets.” In 2022, political strategy firm Baron named her an “Antitrust Super Influencer” for her role in shaping the policy debate.

Alvaro Bedoya was sworn in May 16, 2022 as a Commissioner of the Federal Trade Commission. President Joe Biden named Bedoya to a term that expires on Sept. 25, 2026. Bedoya was the founding director of the Center on Privacy & Technology at Georgetown University Law Center, where he was also a visiting professor of law. He has been influential in research and policy at the intersection of privacy and civil rights, and co-authored a 2016 report on the use of facial recognition by law enforcement and the risks that it poses to privacy, civil liberties, and civil rights. He previously served as the first Chief Counsel to the Senate Judiciary Subcommittee on Privacy, Technology and the Law after its founding in 2011, and Chief Counsel to former Senator Al Franken, of Minnesota. Prior to that, he was an associate at the law firm WilmerHale.