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How does this deal not violate Anti-trust law? The FTC should block this deal as it is not going to be good for consumers.

by ajaimk 7y ago

deleted 7y ago
[deleted]
scarface74 7y ago
Almost every VC backed startup’s goal is to get acquired. Any company that wanted to acquire it would still be considered “anti-trust” by HN “standards”.
- nojvek 7y ago
  I think this statement ^ is very generic. Google acquiring Credit Karma would have been okay-ish. Intuit acquiring gives them a monopoly on tax filing software. They’ve already done a fair amount of lobbying for anti-consumer practices. Basically if America is just a bunch of really large corporations, it makes life worse and doesn’t let us produce more innovative solutions to our problems. Because monopolies are rent seekers and they love to milk their cash cows.
  - scarface74 7y ago
    There are only two outcomes of Google acquiring CreditKarma and neither of them are good. A) Google shuts it down or neglects it like it has done with so many other products B) Google now has more information on users to target advertising and now has an even larger part of the duopoly on advertising and has more information about users - including social security numbers and credit information. I don’t see how either is a good outcome.
    - nojvek 7y ago
      Okay Google was a terrible example since they are a targeted advertising duopoly with FB.
toomuchtodo 7y ago
I’ve filed a complaint with the FTC regarding this today, consider doing so as well. I plan to also contact my Congressional reps tomorrow about it. https://www.ftc.gov/faq/consumer-protection/submit-consumer-complaint-ftc https://www.ftc.gov/faq/consumer-protection/submit-consumer-...
- InterestBazinga 7y ago
  just did a complaint to FTC as well. In case, anyone wants to know how to file a complaint https://www.ftc.gov/faq/competition/report-antitrust-violation https://www.ftc.gov/faq/competition/report-antitrust-violati...

How does this deal not violate Anti-trust law? The FTC should block this deal as it is not going to be good for consumers.

by ajaimk 7y ago

How does this deal not violate Anti-trust law? The FTC should block this deal as it is not going to be good for consumers.

deleted 7y ago

[deleted]

scarface74 7y ago

Almost every VC backed startup’s goal is to get acquired. Any company that wanted to acquire it would still be considered “anti-trust” by HN “standards”.

nojvek 7y ago
I think this statement ^ is very generic. Google acquiring Credit Karma would have been okay-ish. Intuit acquiring gives them a monopoly on tax filing software. They’ve already done a fair amount of lobbying for anti-consumer practices. Basically if America is just a bunch of really large corporations, it makes life worse and doesn’t let us produce more innovative solutions to our problems. Because monopolies are rent seekers and they love to milk their cash cows.
- scarface74 7y ago
  There are only two outcomes of Google acquiring CreditKarma and neither of them are good. A) Google shuts it down or neglects it like it has done with so many other products B) Google now has more information on users to target advertising and now has an even larger part of the duopoly on advertising and has more information about users - including social security numbers and credit information. I don’t see how either is a good outcome.
  - nojvek 7y ago
    Okay Google was a terrible example since they are a targeted advertising duopoly with FB.

toomuchtodo 7y ago

I’ve filed a complaint with the FTC regarding this today, consider doing so as well. I plan to also contact my Congressional reps tomorrow about it. https://www.ftc.gov/faq/consumer-protection/submit-consumer-complaint-ftc https://www.ftc.gov/faq/consumer-protection/submit-consumer-...

InterestBazinga 7y ago
just did a complaint to FTC as well. In case, anyone wants to know how to file a complaint https://www.ftc.gov/faq/competition/report-antitrust-violation https://www.ftc.gov/faq/competition/report-antitrust-violati...