Alle afleveringen
67 afleveringen, van nieuw naar oud
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#66 Golden Shares, Golden Power: Foreign Direct Investment in Italy
2 november 2026 · 35 min
Italy's unique approach to restricting foreign investment has evolved from the historic "Golden Shares" regime to the "Golden Power" law, but recent changes are amplifying tensions with the European Commission. ADVANT Nctm's Francesco Mazzocchi joins host Anant Raut to explain the impact of new changes to the "Golden Power" law, examine significant cases like UniCredit’s takeover of Banco BPM, and discuss what this means for international investors navigating Italy's regulatory landscape. Lees meer
With special guest:
Francesco Mazzocchi, Partner, ADVANT Nctm
Hosted by:
Anant Raut
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#65 How We Define Markets
19 oktober 2026 · 41 min
Before you can conclude that a merger will result in a monopoly, you have to first ask a monopoly of what? Market definition is the analytical fulcrum that almost everything else in a merger case rests upon. Kirkland & Ellis LLP's Mike Singer and Cornerstone Research's Nathaniel Hipsman join host Anant Raut to explain how economists use the hypothetical monopolist and SSNIP tests to define markets. They then discuss the strengths and shortcomings of the tests, as well as the famous "cellophane fallacy" where the competitive price may actually be the monopoly price in disguise. Lees meer
With special guests:
Michael B. Singer, Partner, Kirkland & Ellis LLP and Dr. Nathaniel E. Hipsman, Principal, Cornerstone Research
Hosted by:
Anant Raut
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#64 Music & AI
28 september 2026 · 43 min
Is AI-generated music really so different from music created by humans? Kellogg Hansen's Josh Branson and George Mason Law School Professor Olufunmilayo Arewa join host Anant Raut to discuss the copyrightability of AI-generated music and the growing wave of copyright cases brought by artists, publishers, and record companies against generative AI companies. Lees meer
The conversation then takes a more philosophical turn: how have humans created music throughout history? If human music is inspired by what came before, is AI training on the same material and generating its own all that different? And what, if anything, is lost when the machine takes our place in creation?
With special guests:
Joshua D. Branson, Partner, Kellogg, Hansen, Todd, Figel & Frederick, PLLC and Olufunmilayo B. Arewa, Professor, Antonin Scalia Law SchoolHosted by:
Anant Raut -
#63 The NIL Arms Race
14 september 2026 · 38 min
Antitrust birthed the arms race of name, image, and likeness money pouring into Division 1 athletics. Now college football has spiraled into a widening gap between haves and have nots, where NIL offers (supposedly distinct from pay-for-play) are driving athletes who have played professionally to try to return to college to play sports for a fifth year. Professor Michael McCann, professor at Harvard Law School and columnist for Sportico and Sports Illustrated, joins host Anant Raut and guest co-host Courtney Armour to discuss the flow of money into college athletics and what it means for amateurism in college sports. Lees meer
With special guest:
Michael McCann, Professor, Franklin Pierce School of LawHosted by:
Anant Raut and Courtney Armour -
#62 Greenwashing
20 juli 2026 · 38 min
In this 100% carbon-neutral episode of Trust and Trade, we talk about greenwashing, the practice of making claims about a product that make it sound more environmentally friendly than it actually is. Taken too far, such claims are illegal and can result in serious penalties for companies that cross that line. In this sustainably sourced episode, host Anant Raut talks to Nestle Health Science US's Greg Fortsch, consumer protection expert Christie Thompson, Kaelah Smith from the Office of the Connecticut Attorney General, and Lemuel Srolovic from the Office of the New York State Attorney General about recent cases brought by their offices and legal standards for environmental claims. Listen now to our most eco-conscious episode ever! Lees meer
With special guests:
Greg Fortsch, Assistant General Counsel for Regulatory Affairs, Nestle Health Science U.S.
Christie Thompson, Partner, Kelley Drye & Warren LLP
Kaelah Smith, Assistant Attorney General, Environment Section, Connecticut Office of the Attorney General
Lemuel Srolovic, Chief, Environmental Protection Bureau, Office of the New York State Attorney General
Hosted by:
Anant Raut -
#61 Ozzy Osbourne v AEG
30 juni 2026 · 38 min
In this heavy metal episode of Trust and Trade, we dive into the landmark case of Ozzy Osbourne vs. AEG, exploring how the Prince of Darkness challenged monopolistic practices in concert ticketing. Gwendolyn Lindsay Cooley and Travis Wheeler join host Anant Raut to talk about the evolution in analyzing unlawful tying claims since this historic case, and whether nimbler approaches are possible. All aboard! Lees meer
With special guests:
Gwendolyn Lindsay Cooley, Founder, Taimet and Travis Wheeler, Adjunct Professor, University of South Carolina School of LawHosted by:
Anant Raut -
#60 Impact of U.S. Trade Policy on Investment in Canada
15 juni 2026 · 35 min
When President Trump imposed 25% tariffs on Canada, one of its biggest trading partners, it kicked off a series of back-and-forth tariffs between the two countries. As a result of the ensuing uncertainty, Canadian Prime Minister Mark Carney has emphasized the importance of reducing Canada’s reliance on the United States as a trading partner, announcing a new trade deal with China during a recent visit to Beijing. Does this signal a shift in the Canada-U.S. trade relationship, and create new opportunities for Chinese companies looking to do business in Canada? Canada's former Chief Trade Negotiator Steve Verheul and Blakes' Brian Facey join host Anant Raut to discuss developments in Canada's trade relationship with the U.S., and how this impacts foreign direct investment in Canada. Lees meer
With special guests:
Brian A. Facey, Partner, Blake, Cassels & Graydon LLP and Steve Verheul, Principal, GT & CompanyHosted by:
Anant Raut -
#59 Mergernomics: Killer Acquisitions
25 mei 2026 · 44 min
What exactly do we mean by the term “killer acquisitions,” and how are those deals analyzed any differently by antitrust enforcers? In this episode, host Anant Raut talks to economist Dr. Ethel Fonseca of RBB Economics and antitrust attorney Danny Mader of Hogan Lovells LLP about how potential "killer acquisitions" get reviewed by competition agencies, using real-world examples such as Sabre/Farelogix, Visa/Plaid, and Facebook/Instagram. They explore the complexities of merger analysis, the nuances of potential competition, and how the same deal can have different outcomes in the US and the UK. Lees meer
With special guests:
Dr. Ethel Fonseca, Partner, RBB Economics and Daniel Mader, Senior Associate, Hogan Lovells LLPHosted by:
Anant Raut -
#58 Mergernomics: How Tariffs Redefine Product Markets
6 april 2026 · 21 min
How do tariffs redefine product markets? In this episode, economist Dr. Craig Malam and antitrust expert Carla Hine join host Anant Raut to discuss the effect of the Trump Administration's tariff-centric trade policy on how we determine the edges of a product market and what constitutes a substitutable product. Panelists then talk about what economists and defense counsel should take into account when the size and duration of a tariff can change with a social media post. Lees meer
With special guests:
Dr. Craig Malam, Partner, Edgeworth Economics and Carla Hine, Weil Gotshal & Manges LLPHosted by:
Anant Raut -
#57 Mergernomics: Extending Market Power
9 maart 2026 · 45 min
Enforcers and policymakers have raised concerns that dominant firms like Google, Microsoft, NVIDIA, and Meta are extending their market power into AI by taking stakes in some of the most promising startups. In this episode, economist Dr. Elizabeth Wang and antitrust litigator Daniel Culley join me to discuss how economists measure the risk that a dominant firm could acquire its way into dominance in another market, as well as how to spot flaws in those projections. Lees meer
With special guests:
Daniel Culley, Partner, Cleary Gottlieb Steen & Hamilton LLP and Dr. Elizabeth Wang, Partner and Head of the China Practice, Econic Partners, LLCHosted by:
Anant Raut -
#56 The Resurgence of Private Antitrust Litigation in the Asia Pacific
9 februari 2026 · 39 min
What's behind the rise of private antitrust litigation in the Asia Pacific? Host Anant Raut talks to experts Kirsten Webb and Toshiaki Tada about the resurgence of follow-on cartel litigation in Japan and abuse of a dominant position cases in Australia. They also discuss the impact of Big Tech litigation, the complexities of proving damages, and the propensity towards settlements. Listen to learn more about how these trends could completely invert global litigation strategy for private plaintiffs! Lees meer
With special guests:
Kirsten Webb, Partner, Clayton Utz and Toshiaki Tada, Partner, Hibiya Sogo Law OfficeHosted by:
Anant Raut -
#55 Foreign Investment in the EU
26 januari 2026 · 43 min
The rules for foreign investment in Europe are changing. In this episode of Trust and Trade, Bryan Cave LLP's Christine Graham and AmCham EU's Andrew Hill join host Anant Raut to talk about the reasons behind the revisions - protecting critical assets and technologies, a need for uniformity across member states - and walk listeners through the intricate steps of the European legislative process. What do the changes mean, to whom will they apply, and when do they go into effect? Tune in to learn these answers and gain many more insights into the evolving legal framework that will dramatically impact cross-border transactions! Lees meer
With special guests:
Christine Graham, Partner, Bryan Cave Leighton Paisner LLP and Andrew Hill, Senior Policy Advisor, AmCham EURelated Links:
European Commission factsheet on changes to foreign investment screening,Hosted by:
Anant Raut -
#54 Mergernomics: Efficiencies
22 december 2025 · 37 min
In this latest episode in our Mergernomics series, we examine how attorneys and economists try to quantify the benefits of a merger, aka "efficiencies." Antitrust expert Brazil's Paula Camara and economist Silvia Faga de Almeida join host Anant Raut to discuss why efficiencies sometimes lower prices and why they sometimes don't, how economists measure them, which ones enforcers will accept and why, and how shifting policy priorities, such as protecting rather than firing employees, has changed what even counts as one. Lees meer
With special guests:
Silvia Faga de Almeida, Founding Partner, Ecoa Consultoria Economica and Paula Camara, Partner, Mattos Filho
Hosted by:
Anant Raut
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#53 Michael Jordan v NASCAR
24 november 2025 · 43 min
Why is Michael Jordan's racing team suing NASCAR? MJ's 23XI team and Bob Jenkins’ Front Row have been locked in a heated antitrust lawsuit with NASCAR over the charter system at the heart of the Cup Series, with the case set to go to trial on Dec 1, 2025. Brooklyn Law School Professor Jodi Balsam joins host Anant Raut and co-host Sathya Gosselin to talk about the history of NASCAR, the legal issues that remain to be decided, and how this monumental showdown between two of the biggest names in sports, in one of the biggest sports in the country, is likely to end. Lees meer
With special guest:
Professor Jodi Balsam, Brooklyn Law School
Hosted by:
Anant Raut and Sathya Gosselin
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#52 Regulating AI, Ep. 4: South Korea
27 oktober 2025 · 40 min
How is South Korea reshaping AI regulation? In this episode, D&A's Yaera Jeon joins hosts Anant Raut, Rory Macmillan, and Nina Jayne Carroll to unpack South Korea's new AI Framework Act, the first comprehensive national AI regulation in Asia. They talk about its competing policy goals, broad extraterritorial reach, and compliance obligations for high-impact AI systems. They also discuss the government's recent guidance on the Act and whether it weakens the impact of the new regulations. Lees meer
With special guest:
Yaera Jeon, Partner, D&A LLC
Hosted by:
Anant Raut, Rory Macmillan, and Nina Jayne Carroll
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#51 What Makes a Price Illegal?
29 september 2025 · 47 min
What makes the price charged by a digital platform illegal? Host Anant Raut talks to antitrust economists Tasneem Chipty and Michael Katz about the legality of high and low prices, cross-platform network effects, and contentious practices like predatory pricing and bundled discounts. Learn how antitrust law looks at MFNs, "free" online services, and two-sided markets in this spellbinding episode! Lees meer
With special guests:
Dr. Tasneem Chipty, Founder, Chipty Economics LLC and Dr. Michael Katz, Professor Emeritus, Haas School of Business University of California Berkeley
Hosted by:
Anant Raut
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#50 Are IP Remedies in Big Tech Cases Going Too Far?
1 september 2025 · 50 min
Should Big Tech companies be required to open up their intellectual property when they break the antitrust laws? In this episode of Trust and Trade, experts debate whether requiring Apple to open up its app store restrictions, or Google to license its search data and divest Android, reduce incentives to innovate or are necessary to restore competitive balance. DuckDuckGo’s Joe Jerome and economist Keith Waehrer join host Anant Raut and co-host Jennifer Dixton to talk about how far is too far and what’s at stake for digital markets. Lees meer
With special guests:
Joe Jerome, Senior Public Policy Manager, DuckDuckGo and Dr. Keith Waehrer, Managing Director, Secretariat
Hosted by:
Anant Raut and Jennifer Dixton
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#49 Regulating AI, Ep. 3: Brazil
4 augustus 2025 · 40 min
How is Brazil shaping AI regulation in the Global South? Our latest episode explores the Brazil AI Act, which if passed would become the first comprehensive federal AI regulation in the world to require AI companies to pay creators for using their work to train their systems. Pinheiro Neto Advogados's Raphael de Cunto joins host Anant Raut and co-hosts Rory Macmillan and Nina Jayne Carroll for a conversation on how Brazil’s approach could create a blueprint for global AI regulation, and its implications for innovation and enforcement. Lees meer
With special guest:
Raphael de Cunto, Partner, Pinheiro Neto Advogados
Hosted by:
Anant Raut, Rory Macmillan, and Nina Jayne Carroll
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#48 Regulating AI, Ep. 2: The EU
30 juni 2025 · 46 min
How will the "Brussels effect" shape AI regulation across the rest of the globe? Europe is once again the first to regulate a new digital market, with the adoption of the AI Act. But was it passed too hastily? N-Square's Caroline De Cock joins host Anant Raut and guest co-hosts Rory Macmillan and Nina Jayne Carroll to discuss what we know the AI Act requires, what remains ambiguous, and the parts that EU enforcers have already begun to reconsider. If you're a practitioner advising clients, or a policymaker considering AI regulation of your own, this episode is truly a must-listen! Lees meer
With special guest:
Caroline De Cock, Founder and Managing Partner, N-Square
Hosted by:
Anant Raut, Rory Macmillan, and Nina Jayne Carroll
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#47 Regulating AI
16 juni 2025 · 38 min
How are different countries shaping the future of AI? We start a brand-new series on Trust and Trade examining different regulatory approaches to artificial intelligence around the world. In this kickoff episode, experts Viktor Mayer-Schönberger and Anu Bradford debate strong vs light regulatory approaches to AI and explain "the Brussels effect." Will regulating too much/too soon quash innovation? Will regulating too lightly/too late open Pandora's Box? Join this lively conversation hosted by Anant Raut and guest co-hosts Rory Macmillan and Nina Jayne Carroll! Lees meer
With special guests:
Anu Bradford, Professor, Columbia Law School and Viktor Mayer-Schonberger, Professor, University of Oxford
Hosted by:
Anant Raut, Rory Macmillan, and Nina Jayne Carrol
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#46 Did the Quick Look Test Switch Teams?
26 mei 2025 · 42 min
Can defendants now wield the “quick look” test to beat antitrust claims? In this episode of Trust and Trade, experts unpack the meaning of Justice Gorsuch's language in the Supreme Court’s Alston decision, and debate whether “quick look condemnation” is a game-changer or just rare dicta. Tune in for real-world insights and lively discussion featuring former FTC Commissioner Terry Calvani and Jones Day's Larissa Bergin, moderated by host Anant Raut and guest co-host University of South Carolina School of Law's Prof. Travis Wheeler! Lees meer
With special guests:
Hon. Terry Calvani, former Commissioner, Federal Trade Commission and Larissa Bergin, Partner, Jones Day
Related Links:
NCAA v Alston (2021)
Hosted by:
Anant Raut and Travis Wheeler
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#45 Deals Down Under: Foreign Investment in Australia
12 mei 2025 · 32 min
Thinking about investing in Australia? This episode of Trust and Trade dives into Australia's sweeping new merger control reforms and their impact on foreign investment. Antitrust partner Kirsten Webb and Department of Treasury's (AUS) Annalisa Heger break down the changes, from mandatory filings to faster reviews, and how they interact with existing foreign investment controls. Stay ahead of the curve and learn what these updates mean for global investors! Lees meer
With special guests:
Kirsten Webb, Partner, Clayton Utz and Annalisa Heger, Senior Adviser, Department of the Treasury (AUS)
Hosted by:
Anant Raut
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#44 Space Antitrust
14 april 2025 · 27 min
Can antitrust law keep up with the rapidly evolving space industry? This episode of Trust and Trade examines the challenges in maintaining a level playing field in space travel, satellite launches, and deep-space exploration. Space law expert Maria Rhimbassen and antitrust expert Dylan Carson join Anant Raut and co-host Amanda Norton to discuss government intervention, market monopolization, and the legal gaps in space regulation. Can we rely on the free market to preserve competition in space? Or is the race to become an interstellar species winner-take-all? Lees meer
With special guests:
Maria Rhimbassen, Researcher, University of Toulouse and Dylan Carson, Partner, Manatt, Phelps & Phillips LLP
Related Links:
From Toxic to Noble Competition: Implementing a New Perspective of Antitrust in Outer Space Based on Ethics and Beyond
Hosted by:
Anant Raut and Amanda Norton
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#43 DeepSeek, and App-Level Competition in AI
17 maart 2025 · 38 min
Has the entrance of DeepSeek completely disrupted competition in AI? App developer Scott Weiner and antitrust expert Elyse Dorsey discuss the concentration concerns at every level of the AI stack. Later we examine whether the emergence of DeepSeek, a Chinese AI startup, completely changes how we think about what is needed to compete at the app level in AI. We conclude by looking ahead to where the AI app market may be a year from now. Lees meer
With special guests:
Scott Weiner, AI Lead and Fractional Chief Technology Officer, NeuEon and Elyse Dorsey, Partner, Kirkland & Ellis LLP
Hosted by:
Anant Raut
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#42 The Problem With Pixels
3 maart 2025 · 32 min
Do you find it unnerving when ads follow you around the internet? Today's episode reveals how websites monetize user behavior through advertising technologies such as tracking pixels. Our panel of advertising and privacy experts explain how ad re-targeting works, and debate the Federal Trade Commission's guidance on improper use of pixel technology and the potential impact on businesses and consumers. Lees meer
With special guests:
Michael Sherling, Attorney, Federal Trade Commission, Olivia Adendorff, Partner, Kirkland & Ellis LLP, and Alan Butler, Executive Director and President, Electronic Privacy Information Center
Related Links:
Lurking Beneath the Surface: Hidden Impacts of Pixel Tracking,
Hosted by:
Anant Raut
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#41 RICO Claims in Antitrust
13 januari 2025 · 50 min
In this episode, experts dive into the novel approach of adding racketeering charges in private antitrust litigation. Initially used to bring down organized crime rings, claims under the Racketeer Influenced and Corrupt Organizations Act (RICO) have appeared in plaintiffs' lawsuits in the LIBOR and broiler chicken price-fixing cases. Host Anant Raut and co-host Sam Randall of Sperling Kenny Nachtwalter talk to Christina Lopez of the California DOJ and Ryan Holt of Sherrard Roe Voigt & Harbison PLC on the challenges of arguing RICO violations in antitrust suits. Later, they discuss how this might apply to algorithmic pricing. Lees meer
With special guests:
Christina Lopez, Deputy Attorney General, California Department of Justice and Ryan Holt, Member, Sherrard Roe Voigt & Harbison, PLC
Hosted by:
Anant Raut and Sam Randall
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#40 Mergernomics: Diversion Analysis
23 december 2024 · 33 min
In this latest episode of our wildly popular "Mergernomics" series, Ph.D. economist Dr. Joanna Tsai explains diversion analysis, an economic tool used by antitrust enforcers to examine how closely two companies compete and whether their merger will be bad for consumers. Host Anant Raut and co-host Carla Hine then dive into different types of diversion analysis, as well as some of the limitations of the test. Lees meer
With special guest:
Joanna Tsai, Vice President, Cornerstone Research
Related Links:
The Role of Economic Analyses in Preparing for the First 30 Days of A Merger Review,
Hosted by:
Anant Raut and Carla Hine
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#39 Mergernomics: Merger Simulations
25 november 2024 · 21 min
In the latest episode of our popular "Mergernomics" series, Ted Rosenbaum, Deputy Director in the Bureau of Economics at the U.S. Federal Trade Commission, explains how enforcers apply merger simulations to predict market changes after a proposed merger, sometimes with unexpected results. Hosts Anant Raut and Virginie Caspard then dive into two enforcement actions (against the Aetna-Humana and Wilhelmsen-Drew mergers) where merger simulations were used, and later discuss whether merger simulations are as useful in analyzing non-price markets. Lees meer
With special guest:
Ted Rosenbaum, Deputy Director, Bureau of Economics, U.S. Federal Trade Commission
Hosted by:
Anant Raut and Virginie Caspard
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#38 Mergernomics: Bargaining Leverage
14 oktober 2024 · 38 min
In the latest episode in our popular "Mergernomics" series, Compass Lexecon's Hélder Vasconcelos tells you everything you need to know about bargaining leverage theory - how to calculate it, what it means, and when to use it. Hosts Anant Raut and Paula Camara discuss with Dr. Vasconcelos how merger enforcers applied this theory in their reviews of the AT&T/Time Warner and Fresenius/NxStage mergers, and differences between the US and European approaches. The panel also talks about the challenges and limitations of using bargaining leverage theory. Lees meer
With special guests:
Paula Camara, Partner, Matthos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados and Helder Vasconcelos, Senior Vice President, Compass Lexecon
Hosted by:
Anant Raut
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#37 Mergernomics: Vertical Math
23 september 2024 · 27 min
By now in our popular "Mergernomics" series you've learned how to calculate the potential harm from a horizontal merger; but how do you measure the risk from a vertical merger? In this episode, Cornerstone Research's Dr. Craig Malam tells you everything you need to know about "Vertical Math" analysis in merger review - how to calculate it, what it tells you, and when to use it. Hosts Anant Raut and Analysis Group's Emily Cotton use Microsoft's controversial acquisition of video game maker Activision to discuss with Dr. Malam how to assess the risks of total or partial foreclosure from a vertical merger and how to use this analytical tool in relation to other economic tests in this series. Lees meer
With special guests:
Dr. Craig Malam, Principal, Cornerstone Research and Emily Cotton, Managing Principal, Analysis Group
Hosted by:
Anant Raut
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#36 An Oral History of the Capacitors Trial
2 september 2024 · 53 min
In this episode, listeners will hear the oral history of the landmark capacitors price-fixing case, a case that went to trial not once but twice in the midst of a worldwide pandemic. Attorneys for both the plaintiffs and the defense discuss their courtroom strategies, their approach to damages and guilty pleas, and adjustments they had to make on the fly in response to an unprecedented global health crisis. Later, presiding Judge James Donato shares his perspective on what worked well and what didn't, as well as advice he wishes every trial lawyer would follow, that no litigator will want to miss! Lees meer
With special guests:
Christopher Young, Partner, Joseph Saveri Law Firm
Steven Williams, Founder, Steven Williams Law P.C.
David D. Cross, Partner, Goodwin Procter LLP
Margaret A. Webb, Morrison & Foerster LLP
The Hon. James Donato, United States District Judge, Northern District of California
Hosted by:
Anant Raut
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#35 Mergernomics: GUPPIs
19 augustus 2024 · 18 min
In this episode of Trust and Trade, Dr. Elizabeth Wang, Executive VP of economic consulting firm Compass Lexecon, explains how antitrust enforcers use the Gross Upward Pricing Pressure Index (GUPPI) analysis to determine whether to stop a merger. Dr. Wang walks listeners through what the GUPPI test is, what it tells you, when to use it, and its advantages and limitations. Later, host Anant Raut and co-host NERA's Anton Kandalin discuss how the GUPPI test was used to challenge the Penguin Random House and Simon & Schuster mergers. Lees meer
With special guest:
Dr. Elizabeth Wang, Executive Vice President, Compass Lexecon
Hosted by:
Anant Raut and Antonin Kaladin
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#34 "Why Is My Grocery Bill So High?"
5 augustus 2024 · 48 min
Why are groceries more expensive than they were 4 years ago? In this episode, agriculture policy expert Austin Frerick and economist Tim Richards debate the impact of consolidation on food prices, and the role antitrust should play. Hosts Anant Raut, Evan Harris, and Erika Inwald later discuss the Federal Trade Commission's lawsuit to block the Kroger-Albertson's merger, and what to expect at trial later this month. Lees meer
With special guests:
Austin Frerick, Fellow, Thurman Arnold Project (Yale University) and Dr. Timothy J. Richards, Morrison Chair of Agribusiness, W. P. Carey School of Business (Arizona State University)
Hosted by:
Anant Raut, Evan Harris, Morrison Foerster LLP, and Erika Inwald, Hausfeld LLP
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#33 Mergernomics: Critical Loss
22 juli 2024 · 34 min
In this episode you'll learn everything you need to know about the Critical Loss test used by enforcers to determine whether to block a merger - what it tells you, how to calculate it, and when to use it. Guest Ron Drennan, Economic Advisor to the DOJ Antitrust Division and former acting director of economics, explains how Critical Loss predicts the profitability of a post-merger price increase. Co-hosts Scott Scheele and Anant Raut later discuss real world cases where the Critical Loss test was used by the DOJ in litigation (H&R Block/TaxAct and Aetna/Humana), with mixed results. The latest in our "Mergernomics" series, demystifying the economic tools used in merger analysis! Lees meer
With special guest:
Ronald Drennan, Economic Advisor, United States Department of Justice Antitrust Division
Hosted by:
Anant Raut and Scott Scheele, Kirkland & Ellis LLP
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#32 The Non-Competes Ban
8 juli 2024 · 57 min
In this episode, Open Markets Institute's Sandeep Vaheesan and former acting FTC Chair Maureen Ohlhausen discuss the looming nationwide ban on noncompete clauses for workers and debate the roots and limits of the FTC's powers under Section 5 of the FTC Act. Host Anant Raut and co-host Scott Perlman talk about the legal challenges the ban is likely to face, and where Lina Khan's FTC may go next with the agency's interpretation of its own authority. Lees meer
With special guests:
Sandeep Vaheesan, Legal Director, Open Markets Institute and Maureen Ohlhausen, Co-Chair of the Antitrust and Competition Practice, Wilson Sonsini Goodrich & Rosati
Related Links:
FTC noncompetes ban
Hosted by:
Anant Raut and Scott Perlman, Partner, Mayer Brown
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#31 Mergernomics
24 juni 2024 · 36 min
This episode kicks off Trust and Trade's "Mergernomics" series, demystifying the economic analysis that antitrust enforcers use to predict whether a merger will harm competition and should be blocked. Host Anant Raut and co-host January Kim welcome Aditi Mehta, Economics Director for the DOJ Antitrust Division, to give an overview of the role of economists in merger review, common frameworks for understanding competitive harm, quirks of special markets like platforms and labor, and some of the most commonly-used tests to evaluate merger effects. Lees meer
With special guest:
Aditi Mehta, Economics Director of Enforcement, Department of Justice Antitrust Division
Hosted by:
Anant Raut and January Kim, Counsel to the Director of Civil Enforcement, Department of Justice Antitrust Division
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#30 Breaking Down the Closing Arguments in U.S. v Google
10 juni 2024 · 53 min
It's been called the "antitrust trial of the century" - U.S. v Google, the DOJ and state AGs' case against Google's alleged search monopoly. In this episode, we asked three of the top antitrust trial lawyers in the country to listen to the closing arguments in the case and talk about the tactics and strategies of both sides, the effectiveness of their arguments, and potential implications for ongoing antitrust cases against Amazon, Apple, and Google. Lees meer
With special guests:
Tara Reinhart, Partner, Skadden, Arps, Slate, Meagher & Flom LLP, Kalpana Srinivasan, Managing Partner, Susman Godfrey LLP, and Dan McCuaig, Partner, Cohen Milstein Sellers & Toll PLLC
Related Links:
Transcript of the closing arguments
Hosted by:
Anant Raut, Host, Trust and Trade and Christopher Graham, Associate, Sullivan & Cromwell LLP
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#29 Oral History of the LCD Screens Case
22 januari 2024 · 44 min
US v AU Optronics, or, the LCD screens case, is one of the most important price-fixing cartel cases of the last 25 years. Now, for the first time, co-hosts Anant Raut and Anna Pletcher bring together lawyers from the prosecution, defense, and presiding Judge Susan Illston to recount some of the case's historic firsts, including the size of the financial harm, the extraterritorial reach of the Sherman Act, and the unique sentencing imposed. Get an inside take on the litigation strategies, the legal arguments, and the view from the bench in a one-of-its-kind account of this watershed case! Lees meer
With special guests:
Hon. Susan Illston, Senior Judge, United States District Court for the Northern District of California, Heather Nyong'o, Partner, Cleary Gottlieb Steen & Hamilton LLP, Brent Snyder, Partner, Wilson Sonsini Goodrich & Rosati, and Patrick Robbins, former Partner, Shearman & Sterling LLP
Related Links:
United States' Sentencing Memorandum
Hosted by:
Anant Raut and Anna Pletcher
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#28 A Brief History of Privacy Enforcement by the FTC
20 november 2023 · 48 min
The word "privacy" doesn't appear in the FTC Act, yet for 25 years, the FTC has used its limited resources and enforcement tools to act as the country's privacy enforcer. Past and current FTC leadership join host Anant Raut for this rousing look at the history of privacy enforcement by the FTC, and contemplate its future. In a world where the threats to privacy have grown manifold, has the Commission stretched the handful of words passed by Congress in 1938 as far as they can, and is it time for a new agency, empowered with fit-to-purpose authority, to take the baton for the next 25? Lees meer
With special guests:
Samuel Levine, Director of the Bureau of Consumer Protection, Federal Trade Commission, Daniel Kaufman, Partner, BakerHostetler, and Maneesha Mithal, Partner, Wilson Sonsini Goodrich & Rosati LLP
Hosted by:
Anant Raut
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#27 The Hidden Impact of the Shipping Act Exemption
23 oktober 2023 · 40 min
Look around you - almost everything in your home or office was once on an ocean shipping vessel. Yet this essential area of commerce continues to enjoy one of the oldest exemptions from US antitrust law. Does this loophole keep prices low for consumers? Or does it raise prices for shippers and make supply shocks worse? Hosts Anant Raut and David Golden are joined by Shipping Act expert Melissa Maxman and the American Antitrust Institute's Kathleen Bradish to debate whether it's time to deep-six the Shipping Act antitrust exemption. Lees meer
With special guests:
Kathleen Bradish, Acting President, American Antitrust Institute and Melissa Maxman, Partner, Cohen & Gresser LLP
Related Links:
American Antitrust Institute report on "Competition Enforcement, Private Actions, and the Shipping Act"
Hosted by:
Anant Raut and David Golden
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#26 Lina Under Fire
25 september 2023 · 53 min
Season 3 of Trust and Trade kicks off with an in-depth look at the heated turn in the relationship between the Federal Trade Commission and Congress, which broke into public view during a July oversight hearing by the House Judiciary Committee. Host Anant Raut and guest host John Villafranco welcome Katie McInnis (Chief Democratic Counsel to the subcommittee) and Nina Frant (former counsel to Commissioner Wilson) to discuss their insights from the hearing - what was said, how Chair Khan responded, and what this might mean for the FTC going forward. Lees meer
With special guests:
Katie McInnis, Chief Democratic Counsel, House Judiciary Committee, Subcommittee on the Administrative State, Regulatory Reform, and Antitrust and Nina Frant, Vice President for Consumer Policy, U.S. Chamber of Commerce
Hosted by:
Anant Raut, John Villafranco, and Greg Fortsch
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#25 The Rise, Fall, and Fallout of the FTC's 13(b) Monetary Remedies Authority
14 augustus 2023 · 44 min
It was a Supreme Court case about 1 word, worth $1.2 billion dollars. But after SCOTUS killed the Federal Trade Commission's ability to get scam victims their money back, the FTC got creative. On this episode of Trust and Trade, Anant and Rich talk to a panel of former FTC-ers, including former Commissioner Phillips, about the FTC's ability to make fraud victims whole under Section 13b of the FTC Act. We learn about the history of this law, as well as the rise, fall, and resurgence of the FTC's monetary restitution authority. Lees meer
With special guests:
Hon. Noah J. Phillips, Co-Chair of the Antitrust Practice, Cravath, Swaine & Moore LLP, Maneesha Mithal, Partner, Wilson, Sonsini, Goodrich & Rosati and Ioana Gorecki, Special Counsel, Kelley Drye & Warren LLP
Hosted by:
Anant Raut and Richard H. Cunningham
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#24 The Delicate Dance of Joint Defense Groups
31 juli 2023 · 50 min
In this episode of Trust and Trade, Anant and Anna take us into the inner workings of joint defense groups, discussing the unique challenges of working together as a band of equals behind a common goal but sometimes with differing approaches and client interests. Guests David Cross and Dr. Laila Haider offer insights on decision-making, trust, and transparency when working in a joint defense group, and offer practice pointers on how to make them work more smoothly. Lees meer
With special guests:
David Cross, Chair of the Antitrust Litigation Practice, Morrison & Foerster LLP and Dr. Laila Haider, Economist and Vice President, Charles River Associates
Hosted by:
Anant Raut and Anna Pletcher
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#23 7 Tips for Putting On an Expert Witness
29 mei 2023 · 46 min
To change antitrust policy, you have to win in court, and a key part of any civil trial is the expert witness. We invited a couple of veteran prosecutors to share their best tips and secrets. Whether you're preparing for your first trial or are a seasoned litigator seeking an edge in the courtroom, whether your next trial is bench or jury, there's something useful and surprising for everyone in this episode. Lees meer
With special guests:
Steve Tugander, Acting Assistant Chief, US Department of Justice (New York office) and Bob Hubbard, Assistant Attorney General, Antitrust Bureau, New York Attorney General's Office
Hosted by:
Chris Young and Kathleen McMahon
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#22 Biden at 2
17 april 2023 · 43 min
We debate the hits and misses from the first two years of antitrust enforcement under the Biden Administration, and make some predictions about what to expect in the next two years. Lees meer
With special guests:
Eyitayo St. Matthew-Daniel, Partner, Paul, Weiss, Rifkind, Wharton & Garrison LLP and Lauren Willard, Partner, Covington & Burling LLP
Hosted by:
Anant Raut and Michael Murray
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#21 The Miseducation of Antitrust Courts
20 maart 2023 · 35 min
Have judges gone too far and become too reliant on economic experts in antitrust cases? Legendary plaintiffs' attorney Michael Hausfeld joins hosts Anant Raut and Travis Wheeler to talk about whether dueling professional economists either cancel each other out or decide the fate of antitrust cases, and the right way for judges and practitioners to think about their testimony. Lees meer
With special guest:
Michael Hausfeld, Hausfeld LLP
Hosted by:
Anant Raut and Travis Wheeler
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#20 Section 2 Criminals
16 januari 2023 · 38 min
Would-be monopolists have traditionally faced fines and civil remedies; under the Biden Administration's more muscular enforcement of the Sherman Antitrust Act, they could face jail time as well. Law professor Travis Wheeler walks the former acting head of the DOJ Antitrust Division Richard Powers through some of the most famous monopolization cases in US legal history to help us understand where we could see criminal charges under the new regime. Lees meer
With special guests:
Travis C. Wheeler, Nexsen | Pruet and Richard A. Powers, Fried, Frank, Harris, Shriver & Jacobson LLP
Hosted by:
Anant Raut
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#19 Illumina/GRAIL
12 december 2022 · 42 min
Dual challenges to the Illumina/GRAIL merger on both sides of the Atlantic underscore the differences between US and European approaches to mergers. A group of experts featuring a veteran of DG Comp and an FTC alum walk us through the procedural and litigation intricacies, what happened on both sides of the pond, and key lessons for practitioners about proposed behavioral fixes to embattled mergers. Lees meer
With special guests:
Paul Csiszar, Unit Director, DG Comp and Jennifer Milici, Partner, WilmerHale
Hosted by:
Anant Raut and Bill Batchelor
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#18 Communication Between Attorneys and Economists Recap
12 september 2022 · 6 min
This past February, Amara reported on a panel discussion hosted by the ABA Antitrust Law Section on attorney-economist communications and how to enhance efficiency in the relationship between attorneys and economists. We provide a recap of that programming. Lees meer
With special guest:
Amara Conteh, Wilson Sonsini Goodrich and Rosati
Hosted by:
Gabriela Antonie, Cornerstone Research
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#17 Machine Learning and Its Connection to Antitrust
15 juli 2022 · 11 min
Summary of a recent panel on ML and antitrust. Lees meer
With special guest:
Masha Melkonyan
Hosted by:
Gabriela Antonie