Solve the horizon problem: Don't let Big Tech escape regulation

Many professors at my alma mater, the University of Rochester, were legends in the field of financial economics for a variety of reasons. The main reason was that the university was very well-endowed during the heyday of companies such as Eastman Kodak Company, Bausch & Lomb and Xerox Corp, which were all headquartered in Rochester—and thriving—when I studied there in the late 1980s. For decades, they contributed heavily to the funding of the university and its research projects. When the decline of these firms began in the mid-1990s, the university lost an important source of funding for several years, before…