The Globe and Mail reports in its Wednesday edition that Microsoft is again under scrutiny by the U.S. Federal Trade Commission, which is looking into whether investments made by it, Amazon and Google in start-ups such as OpenAI and Anthropic risk stifling innovation, concentrating more power in Big Tech. Guest columnist Philip MacKellar writes that blocking a merger on anti-competitive grounds is a well-established practice, but cracking down on companies for their partnerships seems like new territory. Regardless of the outcome, this is yet more evidence supporting the view that the Justice Department and FTC are clamping down on potential anti-competitive actions. Regulators can and do make mistakes. Blocking a deal on anti-competitive grounds can backfire if the entity that would have been acquired then scales back operations, downsizes or goes bankrupt. In 2015, for example, Walgreens Boots Alliance attempted to purchase Rite Aid, but was thwarted by the FTC. In the aftermath of the failed deal, Rite Aid downsized, and never regained its footing. The pandemic took a toll on its operations and the company faced a wall of litigation related to the opioid crisis. Rite Aid filed for Chapter 11 bankruptcy last year.