12/30/2022 Reveals The Folly Of Klobuchar And Grassley's AICOA

The article is an opinion piece arguing that the proposed American Innovation and Online Choice Act (AICOA) is misguided because it targets dominant tech platforms based on their current market power, while markets consistently fail to predict future winners. It uses Apple’s huge long-term stock gains, along with Google and Meta’s strong returns, to argue that legislators like Amy Klobuchar and Chuck Grassley are trying to regulate yesterday’s leaders and may miss the next wave of innovation such as ChatGPT and other AI tools. The market implication is broadly bullish for large-cap technology leadership and skeptical of anti-big-tech antitrust efforts, since the article suggests policy built on backward-looking assumptions could misfire and fail to anticipate technological change.