Congress: Major Tech Firms Have Too Much Power w/In U.S.

Webster

Administrators
Staff member
(The Guardian) The Guardian’s Kari Paul reports: Companies including Amazon, Google, Facebook, and Apple have amassed to much power and should be reined in with new legislation, US lawmakers concluded in a major report resulting from a 16-month inquiry into America’s largest tech platforms.

These companies “wield their dominance in ways that erode entrepreneurship, degrade Americans’ privacy online, and undermine the vibrancy of the free and diverse press,” the House Judiciary Committee concluded in its nearly 500-page report. “The result is less innovation, fewer choices for consumers, and a weakened democracy.”

The report follows the committee’s 16-month inquiry into the effects of market dominance by major web platforms. That investigation saw America’s leading tech figures – including Jeff Bezos, Tim Cook, Mark Zuckerberg, and Sundar Pichai – testify before lawmakers during historic Congressional hearings in July. However the report was critical of their testimony, saying that the CEOs’ “answers were often evasive and non-responsive … raising fresh questions about whether they believe they are beyond the reach of democratic oversight”.

To address this monopoly, the committee offered a list of nearly a dozen changes, including “structural separations” of some of the companies. It also suggested the prevention of future mergers that could lead to monopolization, and to reform antitrust laws to better rein in such explosive growth and domination before businesses are able to grow to this size.
 
Top