Big tech companies resemble the textbook Industrial Age monopolies in a lot of ways, says Lina Khan, majority counsel for the US House of Representatives Judiciary Committee. But they’re different in one crucial way: consumers tend to really like what they offer. Companies like Amazon have lowered prices and brought a world of products just a click away.

Government-led antitrust in the US has recently been based on the principle of consumer protection. When consumers are conspicuously disadvantaged by monopolies, then it’s time to act. Khan says this way of thinking about antitrust complicates action against tech companies because even though their structures and behaviors are monopolistic, most consumers think that’s to their own advantage.

Understanding how companies like Amazon function helps explain why they need to be regulated, says Lina Khan. Companies like Amazon are “dominant intermediaries,” or companies that are platforms for other businesses. Amazon’s  chief product is its platform.

Khan reminds us that Facebook rose in popularity because it was competing with other social media sites that didn’t offer the same level of privacy protections. It was only after Facebook became a behemoth that it started to be plagued by privacy issues. 

Nicholas Thompson, editor-in-chief of Wired, plays devil’s advocate and suggests that breaking up companies like Facebook will cause the smaller companies to compete for profits instead of focusing on things like privacy. Lina Khan says the effect would be the exact opposite:

Khan reminds us that Facebook rose in popularity because it was competing with other social media sites that didn’t offer the same level of privacy protections. It was only after Facebook became a behemoth that it started to be plagued by privacy issues. 

All roads to meaningful antitrust regulation eventually lead to the federal government. But can the government be trusted to pursue antitrust cases in a fair, timely, and effective way? Both Lina Khan and Nick Thompson aren’t so sure. Khan says that even though the regulatory process usually moves at glacial speeds, there are ways to streamline it and update it for the 21st century. The motivation behind those regulations, though, is a different matter.

Theoretically, a system of checks and balances makes sure that antitrust doesn’t become politicized. Congress has oversight over the regulatory process, and various federal agencies have input as well. But given the fractured nature of Washington, Khan isn’t totally reassured.