My older dog is bullying our new puppy, can i make this stop?

We recently got a new australian sheperd lab mix. We havent had two dogs in the same household for a while. My older dog looks at the puppy like he wants to eat him everytime and he pounces on him. I dont know if my older dog is just being protective or if he doesnt like the puppy, but the puppy does not like it because he runs and hides behind chairs. Should i get rid of the new puppy?