All the economists who told the FTC we shouldn't break up Big Tech are paid by Big Tech

From the Open Markets Institute's Mat Stoller and Austin Frederick, who analyzed the FTC's panel, "The Current Economic Understanding of Multi-Sided Platforms," in which economic experts told the regulator that Big Tech's monopoly power just isn't a problem: "every single economist testifying on the issue of corporate concentration derived income, directly or indirectly, from large corporations. Beyond that, the hearing itself was held at the Antonin Scalia Law School, which is financed by Google and Amazon." Read the rest

Research shows that patent examiners are more likely to grant patents to companies they later work for

In their National Bureau of Economic Research working paper From Revolving Doors to Regulatory Capture? Evidence from Patent Examiners (Sci-Hub Mirror), Business School profs Haris Tabakovic (Harvard) and Thomas Wollmann (Chicago) show that patent examiners are more likely to grant patents for companies that they subequently go to work for; they also go easier on patents applied for by companies associated with their alma maters (where they have more connections and will find it easier to get a job after their turn in government service). Read the rest

Cryptojacking malware discovered running on critical infrastructure control systems

Radiflow reports that they discovered cryptojacking software -- malware that mines cryptocurrency -- running in the monitoring and control network of an unnamed European water utility, the first such discovery, and a point of serious concern about the security and integrity of critical infrastructure to both targeted and untargeted attacks. Read the rest

Home Depot might pay up to $0.34 in compensation for each of the 53 million credit cards it leaked

In 2014, Home Depot disclosed a security breach of 53 million customer credit cards and 56 million email addresses. This week the company settled a class action lawsuit and agreed to pay as much as $19.5 million in damages and compensation. Read the rest

Harvard Business Review: Stop paying executives for performance

Two business-school researchers have published a literature survey in the Harvard Business Review that makes the case against using performance-pay to motivate senior managers. Read the rest

Lessig on how the economics of data-retention will drive privacy tech

In an interview with the WSJ's CIO blog, Lawrence Lessig proposes that the existence of cryptographic tools that allow for "zero-knowledge" data-querying, combined with the potential liability from leaks, will drive companies to retain less data on their customers. Read the rest