New York's Mayor-elect Zohran Mamdani has a potent ally in tackling affordability: Lina Khan, the former head of the Federal Trade Commission. Her appointment has sent shockwaves through business circles and sparked debate among progressives about her potential impact on regulation.
Khan's reputation as an aggressive regulator precedes her. Under her watch, the FTC effectively blocked a $25 billion merger between two grocery giants, citing concerns over price hikes and labor market harm. She also banned junk fees for concerts and hotels, and capped prices on asthma inhalers. Her tactics have earned her a reputation among business leaders as "ideologue" Kathy Wylde, who fears that litigation-driven approaches won't make New York more affordable.
But Khan is now poised to bring this approach to the local level. She's been discussing how to use levers of government to protect consumers against questionable or illegal practices. Her ideas include cracking down on high prices at sports venues, controlling concessions by inserting new provisions into stadium leases, and tackling price gouging in healthcare. She also wants to regulate algorithmic pricing used by landlords, Uber, Lyft, and other companies.
One potential area of focus is the high cost of food and drinks at stadiums and arenas. Khan has identified a 56-year-old New York City law that prohibits "unconscionable" business practices. This could lead to cheaper hot dogs and beer at sporting venues. Similarly, she wants to protect consumers in the healthcare industry by taking on illegal monopolistic practices and targeting hospitals that overcharge for essential drugs.
Her interview with Jon Stewart revealed her interest in algorithmic pricing, which she sees as anticompetitive, price-fixing, and an invasion of privacy. New York recently passed legislation regulating this practice, but Khan wants to ensure its enforcement is vigorous.
As Mamdani's affordability agenda takes shape, Lina Khan is ready to wield her regulatory hammer. Her potential impact on the city's business community remains to be seen, but one thing is certain: she won't shy away from taking on powerful corporations and pushing for change.
Khan's reputation as an aggressive regulator precedes her. Under her watch, the FTC effectively blocked a $25 billion merger between two grocery giants, citing concerns over price hikes and labor market harm. She also banned junk fees for concerts and hotels, and capped prices on asthma inhalers. Her tactics have earned her a reputation among business leaders as "ideologue" Kathy Wylde, who fears that litigation-driven approaches won't make New York more affordable.
But Khan is now poised to bring this approach to the local level. She's been discussing how to use levers of government to protect consumers against questionable or illegal practices. Her ideas include cracking down on high prices at sports venues, controlling concessions by inserting new provisions into stadium leases, and tackling price gouging in healthcare. She also wants to regulate algorithmic pricing used by landlords, Uber, Lyft, and other companies.
One potential area of focus is the high cost of food and drinks at stadiums and arenas. Khan has identified a 56-year-old New York City law that prohibits "unconscionable" business practices. This could lead to cheaper hot dogs and beer at sporting venues. Similarly, she wants to protect consumers in the healthcare industry by taking on illegal monopolistic practices and targeting hospitals that overcharge for essential drugs.
Her interview with Jon Stewart revealed her interest in algorithmic pricing, which she sees as anticompetitive, price-fixing, and an invasion of privacy. New York recently passed legislation regulating this practice, but Khan wants to ensure its enforcement is vigorous.
As Mamdani's affordability agenda takes shape, Lina Khan is ready to wield her regulatory hammer. Her potential impact on the city's business community remains to be seen, but one thing is certain: she won't shy away from taking on powerful corporations and pushing for change.
I'm curious about this new combo of Mamdani & Khan. It's like they're setting up a war between affordability & big business 
. I mean, $25 billion merger blocked? That's massive 
. I hope it doesn't get messy for the everyday people though 
. Algorithmic pricing is just a fancy term for "we're gonna make more cash" 
. Khan seems like she's on a mission to shake things up, but will it be enough to really make NY more affordable? Only time'll tell 
.
. I mean, think about it - Lina Khan is like a superhero with a very specific set of powers that everyone's gonna love... NOT 
. She's got these super strong opinions and ideas about how to "protect consumers" but what she's really doing is trying to strangle businesses. Like, who needs innovation when you can just crack down on every little thing? 
And don't even get me started on her obsession with algorithmic pricing... like, hello, personal freedom isn't free, people! 
It's not like the city hasn't got better things to do than monitor every single concession stand in the country.
.
. It's about making sure they're not price-gouging people just to line their pockets 
. I mean, who hasn't had a ridiculous hot dog or beer price at a game? And hospitals charging exorbitant amounts for meds? That's just wrong 
. Bring it on, Lina Khan and Zohran Mamdani 
I mean, her track record at the FTC is pretty impressive, tackling those big mergers and junk fees like they were nobodies business 
That'd be amazing! And I'm also low-key worried that they might crack down on some big companies. As a consumer, it's cool to have someone pushing back against price hikes, but at the same time, I don't wanna see small businesses get hit by all this new regulation 
. Mamdani and Khan are a match made in heaven for tackling affordability, especially when it comes to big businesses exploiting consumers. I think the focus on stadiums and arenas is a great start - who wouldn't want cheaper hot dogs at the Yankees game? 
it makes sense that a 56-year-old law would be revisited, especially with the current inflation rates 
I'd love to see her ideas in action, but also curious about how businesses will adapt and respond to these changes 
she's got some serious skills under her belt, blocking that $25 billion merger was no joke 
. I'm all for regulating monopolistic practices in healthcare, but hospital CEOs are just going to find new ways to rip off their patients 