June 02, 2021
Partner Dany Assaf spoke to BNN Bloomberg to share his analysis on big tech players and market dominance. Dany highlighted that tensions arise when markets evolve and outgrow their regulatory frameworks—with some concepts remaining in play while others become less and less applicable over time as the market evolves.
“Where are the boundaries in the digital world?” Dany said. “Are [businesses] seeing the market invention success that they deserve? Or is it now a function of their market power excess that they’re reaping rewards that the market shouldn’t be rewarding?” he said.
When asked if bigger countries or jurisdictions should review competition regulation and related legislation before the Canadian government does, Dany promptly disagreed, “I don’t think we should leave our fate in the hands of other governments.”
“We need to figure out what’s happening on the ground in our country, how best to serve the market and how best to ultimately serve the consumers,” he said.
He explained that Canada should pay attention to the power of the competitive market to identify the dynamics that will allow its reinvention, since the players of yesterday are no longer the players of today.
“Do we have the conditions? Are the barriers to entry low enough? Are there really choices?”
“That’s a question we have to ask and answer in Canada. You can’t outsource that kind of policy and market problem,” Dany asserted.
You can learn more about our Competition and Foreign Investment Review practice by visiting the practice page. You can watch the full Bloomberg video here.