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EXCERPT:
A familiar warning now shapes much of the discussion about artificial intelligence: A handful of dominant firms will control the technologies, stifle innovation, and require aggressive antitrust intervention. It is a compelling story—and mostly wrong.
The idea that large companies automatically mean less innovation has become conventional wisdom in antitrust circles. European regulators have embraced it, blocking mergers and attacking American tech companies. The Biden administration followed that path, treating size itself as a threat and wanting government-led AI. The Trump administration, by contrast, has signaled a more evidence-based view—one grounded in both economic logic and empirical studies.
