On November 15, 2022 the botched ticket sale for Taylor Swiftâs Eras Tour left millions of people furiously asking: âWhat happened?â Within days the Department of Justice publicly announced there was an ongoing investigation into Ticketmaster-Live Nationâs monopoly.Â
This week marks the one year anniversary of the Senate Judiciary Committeeâs hearing regarding Ticketmaster-Live Nationâs monopoly in the live event industry. The Senatorsâ Swift puns made the event quite memeable and the public appreciated seeing leaders ask tough questions without theatrical sophistry. Weeks later Senator Amy Klobuchar and Senator Mike Lee wrote to the Department of Justice encouraging the Antitrust Division to review the matter further. Â
Our three branches of government are designed to act in finely tuned tension. The separation of powers safeguards our country against unchecked power within the federal government. Any governing system is fatally flawed if designed with a single point of failure. A consequence of unchecked power is that subjects are beholden to rules, yet are never served.
For too long - our means to address unchecked power in private industry have been underutilized. We canât rely on industries to innovate if it is only done at their sole discretion. Nowhere is the dearth of innovation more apparent than in a monopolized industry. If your only choice is a hammer everyone is getting nailed.
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