But over the past few years, it seemed like the antitrust campaign against big tech ended in failure. For decades, tech firms have lobbied to stop states and the Federal government from regulating them. In cases such as Netchoice vs Moody, tech firms have claimed there is a constitutional prohibition against regulating them. And that’s not all for the business model of dominant tech firms who thrive on data-intensive methods of advertising. Bank of America Global Research calls it a “generational transfer in free cash flow” from big tech to chipmakers.