When It Comes to Big Tech and Monopoly Power: Patience is a Virtue, Antitrust is a Vice The rise of big tech companies has been nothing short of remarkable. Companies like Amazon, Google, and Facebook have transformed the way we live, work, and communicate. However, with this success has come scrutiny, particularly around the issue of monopoly power. Many have argued that these companies have become too big and too powerful, and that they are stifling competition and innovation. The question of what to do about big tech and monopoly power is a complex one. On the one hand, there are those who argue that antitrust action is necessary to break up these companies and restore competition. On the other hand, there are those who argue that patience is a virtue, and that the market will eventually correct itself. So, which approach is the right one? In my view, patience is the better option. While it is true that big tech companies have a lot of power, it is also true that they operate in a rapidly changing market. New technologies and new competitors are emerging all the time, and it is entirely possible that the market will correct itself without the need for antitrust action. Moreover, antitrust action is not without its risks. Breaking up big tech companies could have unintended consequences, such as reducing innovation and harming consumers. It is also possible that antitrust action could be politically motivated, rather than based on sound economic principles. That is not to say that we should do nothing about big tech and monopoly power. There are steps that can be taken to promote competition and innovation without resorting to antitrust action. For example, policymakers could focus on promoting interoperability between different platforms, which would make it easier for new competitors to enter the market. They could also focus on promoting data portability, which would give consumers more control over their data and make it easier for them to switch between different platforms. Ultimately, the best approach to big tech and monopoly power is to be patient. The market is constantly evolving, and it is entirely possible that new technologies and new competitors will emerge that will challenge the dominance of big tech companies. In the meantime, policymakers should focus on promoting competition and innovation in ways that do not harm consumers or reduce innovation. By doing so, we can ensure that the benefits of the digital revolution are shared by all.