EconWorks Podcast

On May 25, 2026, the Dutch government blocked Kyndryl’s acquisition of Solvinity, citing national security concerns. But the real story is not the block—it’s how the Dutch government (and many others) inadvertently created a one-vendor monopoly in critical infrastructure through mundane procurement decisions. This episode considers the following: * The risk of lock-in through repeated government c...

In Episode 5 of the Control in AI Series, we explain how standard antitrust tools (market definition, SSNIP tests, and price indices) break down in AI markets. You’ll learn about the tariff system, economies of scale and scope, stacked demand, emergent switching costs, and why competition in AI is driven far more by quality and capability than price. This episode demonstrates how the architecture...

Many people believe that an immediate antitrust challenge would follow for a merger between SpaceX and Tesla. This episode raises a more important question: Would the merger really reduce competition? We apply standard merger analysis to distinguish between horizontal, vertical, and conglomerate effects to understand where competitive concerns may (or may not) arise. Read the full article and grap...

Most people consider AI to be chatbots or image generation. But in reality modern AI is a complicated, layered system. The real power is at the bottom. The model layer itself. In this episode, EconWorks breaks down the AI stack (Model → System → Interface) and explains why whoever controls the model layer (the base of the stack) is the one that controls the entire market. You’ll learn how scale, l...

Discourse around AI compute is often framed in terms of vertical integration and the risk of foreclosure. But market realities may not align with these concerns. The main problem is not access, but the slow pace of capacity expansion due to power and permitting constraints. This conversation reframes the AI race as a race of infrastructure scarcity and execution speed. Read the full article and gr...

This installment of Control in AI takes a look at the Meta–Manus transaction—a deal that was signed, entered into a phase of early technical exploration and alignment, but never reached the stage of full operational control. We discuss why the deal creates a new and important category in AI markets: partially realized deals. Such arrangements can impact technical direction, system design, and the...

We break down the economic structure of the AI developer market in this episode. We discuss how dependence on upstream foundation models compels downstream innovators to flow both capital and highly refined telemetry back to their vertically integrated competitors. We objectively evaluate the proposed solution, the acquisition of Cursor by SpaceX/xAI. Is the deal a classic case of vertical foreclo...

AI Antitrust Series. Episode 2: In our second episode, we deconstruct the AI stack (Model → System → Interface) and show how control at the model layer determines access, capabilities, integration, and ultimately who wins the AI economy. We explore why economies of scale, learning effects, and scope make the model layer the main bottleneck. We compare it to the Apple ecosystem and discuss the two...

What happens when the “market” isn’t a product—but a platform? In this episode, we unpack why traditional antitrust tools struggle with platforms and introduce a new way to think about them. From credit cards to Google to sports leagues, not all platforms work the same way—and that distinction matters more than you think. Read the full article and graphic analysis: https://blog.econworks.com/p/whe...

The season finale tackles the FTC’s challenge to Tempur Sealy’s vertical merger with Mattress Firm. Was the merger a smart efficiency play in retail and manufacturing, or did it risk anticompetitive foreclosure? In this episode, AI critiques the expert economic analysis, focusing on vertical merger guidelines, concentration risks, and real-world retail dynamics. We compare the AI take to the court...

In this episode, we examine the economic foundations of reverse-payment antitrust law through the lens of the Takeda verdict. The Supreme Court’s *Actavis* decision shifted the focus from patent validity to payment size—but left unresolved how courts should measure what counts as “large.” We explore the circularity embedded in the framework, the role of damages models, and why jury decisions may u...

In this episode, we talk about the complexities of digital advertising in the US. DOJ v. Google ad tech case. Google’s integrated platform dominates ad servers, exchanges, and networks, and critics have accused it of excluding rivals. The AI looks at the main expert arguments about auctions, vertical integration, and market power and compares the criticism to the trial evidence. In this episode we...

This episode explores the DOJ’s settlement with Agri Stats and the growing antitrust debate surrounding information sharing, algorithmic pricing, and AI coordination. The discussion covers: * why collusion is unstable, * how monitoring systems sustain coordination, * the role of AI pricing algorithms, *and why future antitrust cases may become increasingly difficult to detect and prove. Read the f...

This episode turns to the FTC’s attempt to block the Tapestry (Coach) and Capri (Michael Kors, Kate Spade) merger. The central fight was over how to define the relevant market—a narrow “accessible luxury” segment or something much broader? Using AI, we critique the expert report’s data choices, market framing, and economic analysis, then see how it stacked up against the court’s real-world assessm...

This episode of EconWorks looks at one of the most important recent tests of serial acquisition enforcement: the FTC's lawsuit against U.S. Anesthesia Partners. The conversation looks at: * Rollups in healthcare * Definition of the market, * Leverage in negotiations, * Consolidation economics, * and the challenge of reestablishing competitiveness once markets have already changed due to past acqui...

Was the App Store an iOS-only monopoly or was it in a highly competitive multiplatform market? In episode two of the AI v. Judge series, AI takes a deep dive into the epic expert report in Epic v. Apple, including the fight over central market definition. We compare the AI assessment directly to the actual ruling of the court. The podcast features a comparison of broad and narrow marketplaces. Rea...

Have you ever wondered if anything will actually change the way we buy concert tickets? In this episode, we break down the monumental shift in the fight against Live Nation-Ticketmaster. For over a decade, the debate around Ticketmaster relied on the constraints of a 2010 negotiated settlement with the DOJ, where core economic questions were never fully adjudicated. Now, the story has changed. We...

Managing deeply integrated, complex systems requires a careful balance. When regulators pull out their toolkit, the results are rarely simple. Join us as we look at both sides of the modern competition debate and the practical realities of trying to “fix” global markets. Key Discussion Points: * The Case for Intervention: Breaking price chokeholds and preventing consumer “lock-in”. * The Risks of...

A jury has officially found Live Nation-Ticketmaster guilty of having too much power and acting in a way that keeps people out of the market. But will this really lower the price of your concert tickets? In this episode, we talk about the recent state-led antitrust case against Ticketmaster and what the limits of state antitrust power are. We talk about the history of the 2010 DOJ settlement, what...

Competition enforcement is currently at the forefront of economic policy. From digital tech platforms to aviation and healthcare, regulators are aggressively stepping in to reshape industries. But how do we ensure markets remain fair without triggering a disastrous chain reaction? In this episode, we dive into the “Remedies Toolkit” used by the DOJ and FTC. We analyze the three main pillars of int...

Brazil isn't waiting for the courts. Their administrative approach to antitrust is providing a real-time test for interoperability remedies that the rest of the world is watching. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit blog.econworks.com/subscribe

Today on EconWorks , we conclude our deep dive into the FAANG antitrust landscape by looking at the “invisible hands” of platform operators. Key Topics Discussed: * The Shift in Enforcement : Why U.S. antitrust complaints are focusing on user choice architecture and market access rather than just price. * The Five Pillars of Conduct : Default placement (Google), App Store rules (Apple), Marketplac...

Brazil has officially forced open the iOS ecosystem—but the battle is far from over. Following a landmark antitrust settlement, a massive legal and economic standoff is brewing over the iPhone’s NFC chip and Brazil’s instant payment system, Pix. In this video, we break down the core arguments: Is Apple protecting billions in proprietary hardware R&D, or is it acting as an illegal gatekeeper by tax...

In this episode, we move beyond traditional price-based analysis to explore how dominant digital platforms—Google, Apple, Amazon, Meta, and Microsoft—shape competition through ecosystem governance. We break down the key mechanisms of platform power: * Default Placement & Behavior : How search and browser defaults steer user usage. * App Store & OS Governance : The impact of rules on developer entr...

The Federal Trade Commission (FTC) successfully challenged the merger between Ottobock and Freedom Innovations, two leading prosthetic manufacturers, in an uncommon antitrust lawsuit. The FTC asserted that the merger would impede market competition and technological progress in the high-end prosthetic knee sector, despite the 2017 acquisition being small enough to evade initial regulatory examinat...