Billionaire Democratic donors Barry Diller and Reid Hoffman have voiced their desire for Vice President Kamala Harris to replace Federal Trade Commission (FTC) Chair Lina Khan if she becomes U.S. president. This move would mark a significant shift from President Joe Biden’s aggressive antitrust stance, which Khan has championed.
Khan has led the FTC in a rigorous application of U.S. antitrust laws, aiming to enhance competition and curb corporate practices that lead to high prices and low wages. Her efforts, including the FTC’s ban on noncompete agreements, have made her a controversial figure. While she’s faced criticism from corporate entities, she’s also garnered support from figures like JD Vance, Donald Trump’s running mate, for her critical view of big business practices.
This week, Diller, who chairs the travel site Expedia, publicly expressed his willingness to financially support Harris’s campaign, indicating that he would advocate for Khan’s replacement. In an interview with CNBC, Diller criticized Khan for her opposition to what he described as business efficiency.
Hoffman, co-founder of LinkedIn and a board member at Microsoft, echoed these sentiments in an interview, criticizing Khan’s impact on the American economy. Hoffman has been a significant financial contributor to Democratic causes, including a $7 million donation to a Democratic super PAC.
Despite this opposition, Khan continues to receive backing from key Democratic senators, including Bernie Sanders and Elizabeth Warren. Warren recently praised Khan’s work, linking it to the strength of the current economy, as highlighted by recent GDP data.
