In this episode, Hugh sits down with Renata Hesse, a partner at Sullivan & Cromwell LLP and co-head of their Antitrust Group. Prior to joining the firm, she served twice as Acting Assistant Attorney General of the Antitrust Division at the Department of Justice and worked in the division for over 15 years.
Hugh and Renata discuss among other things, her childhood in Berkeley, what it was like growing up in a “big caliber family,” and her somewhat unusual entry into antitrust. They trade experiences working at the Antitrust Division and Renata explains how the division has dramatically shifted in terms of international cooperation and the sharing of information among global antitrust enforcers.
From there, they dive into China’s track record on antitrust, theorize on potential outcomes of the DOJ’s review of the consent decrees governing ASCAP and BMI, the effect of companies like Amazon and Walmart on the market and consumers, and why FRAND issues continue to arise. They reflect on the tension that exists between IP and antitrust and Renata’s view that “both disciplines are really trying to get at the same thing. They both are trying to encourage innovation and competition… and to let people reap the rewards when they do something great.”
They conclude by reviewing hot topics in antitrust: whether the consumer welfare standard is the right standard, how antitrust analysis should take data into consideration and, finally, whether antitrust is doing the job people expect it to.