From 1980 through 2019, the top 5 stocks in the S&P 500 averaged 13% of the index’s total market value. Today’s top 5 — Apple, Microsoft, Amazon, Facebook, and Google — represent over 20%.
That could soon change.
Earlier this week, the Biden administration confirmed plans to appoint antitrust scholar Lina Khan to a commissioner role at the FTC.
… because last time things didn’t go so well.
Per Politico, the FTC made made poor predictions about Google’s future during a 2012 antitrust probe, including:
Today, ads account for much of Google’s revenue, ~62% of searches happen on mobile, and Google maintains a ~92% market share.
At just 32 years old, Khan’s antitrust resume is deep:
If confirmed, Khan would likely up the chances of the FTC taking antitrust action soon. The agency previously filed a suit against Facebook and has reportedly been investigating Amazon for years.
But not everyone has approved, including Sen. Mike Lee, who cited Khan being just 4 years out of law school, and NetChoice — a tech trade group.
Among the group’s members: Amazon, Facebook, and… Google.