Start-ups are the lifeblood of innovation in the United States. They provide jobs, spur economic growth, and create new products that can improve our lives. However, venture capital-funded start-ups disproportionately produce tech innovation and they are at risk of being destroyed by poorly designed antitrust legislation currently proposed by the Senate American Innovation Act (SAIA).
The SAIA would make it more difficult for these companies to compete with larger firms that have greater resources to comply with regulations or defend themselves against legal action. This could stifle competition and limit opportunities for entrepreneurs to develop their ideas into successful businesses. Furthermore, if start-ups cannot access venture capital funding due to increased regulation costs or fear of litigation, then they will struggle even further as a result of this bill’s passage.
We must protect entrepreneurship in America so we can continue innovating and driving economic growth forward without sacrificing fair competition between large corporations and small business owners alike. Therefore, lawmakers should be mindful when crafting any kind of antitrust legislation so as not to inadvertently destroy one sector while protecting another. We must ensure all stakeholders benefit from any changes made rather than just those with deeper pockets.
Read more at The Hill
