Who is Lina Khan? Why has LinkedIn co-founder Reid Hoffman asked Kamala Harris to sack her? Know why megadonor is upset with her

Much before Kamala Harris is officially nominated for the US Presidential Election 2024, megadonors for the Democratic Party have started exerting pressure on her for a favor if she is elected president. Talking to CNN, LinkedIn co-founder Reid Hoffman has asked Harris to sack Federal Trade Commission Chairperson Lina Khan for opposing mergers and acquisitions. He told the news television channel Lina Khan is a person who is not helping the US. The billionaire businessman added that he would hope Kamala Harris would replace her. He also accused Khan of operating outside the scope of her office's authority. Elaborating on it, the LinkedIn co-founder said that antitrust is fine, but waging war is not.

Why is LinkedIn co-founder Reid Hoffman angry?

Hoffman may be upset because Microsoft acquired LinkedIn for $26 billion in 2016 in a deal that the FTC reviewed, though it approved ultimately. He is a board member at Microsoft, which acquired gaming company Activision Blizzard for $69 billion. The FTC challenged this deal in a court, that rejected its objections. Its appeal in the court is pending for hearing.

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Barry Diller slams Lina Khan

Another megadonor Barry Diller, Chairman of IAC and Expedia, also talked of removing Lina Khan from her office, reports Fox News. When asked in an interview with CNBC if he would join others in lobbying Harris to replace Khan as leader of the FTC, he said, "Yeah, I would. I think she's a dope."

He also announced to "donate the maximum" to the Harris campaign. He told Fox News that other donors who were anxious about Biden seeking another term could come around to supporting Kamala Harris.

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FTC Defends Lina Khan

Before this controversy erupted, FTC Spokesperson Douglas Farrar told Reuters last week that Chair Khan was honored to serve in the Biden-Harris administration, where she protected consumers, workers, and entrepreneurs from illegal conduct and corporate abuse.

Many corporations and business houses are not happy with Lina Khan's efforts to leverage antitrust law to scrutinize mergers for their competitive impact on prices paid by consumers and workers' job security.

FAQs

Who is Lina Khan?
Lina Khan is the Chairperson of the Federal Trade Commission. She is in the news after LinkedIn co-founder Reid Hoffman asked Democratic presumptive nominee Kamala Harris to sack her.

Why LinkedIn co-founder is angry at Lina Khan?
According to media reports, LinkedIn co-founder Reid Hoffman may be upset because Microsoft acquired LinkedIn for $26 billion in 2016 in a deal that the FTC reviewed, though it approved ultimately. He is a board member at Microsoft, which acquired gaming company Activision Blizzard for $69 billion. The FTC challenged this deal in a court, that rejected its objections.