ANTITRUST

Big Tech Execs Get Ready To Rumble As Antitrust Hearing Nears

Amazon Execs Donated To Antitrust Investigator

The CEOs of four Big Tech companies are planning to go on the attack when they appear before Congress next week, Reuters reported.

In answer to charges that the tech giants use their market share to hurt the competition, the CEOs plan to testify that their own companies face competition and are not as dominant as alleged, Reuters said.

A U.S. House Judiciary Committee antitrust panel has a full plate set for July 27. On the menu are Amazon’s Jeff Bezos, Apple’s Tim Cook, Facebook’s Mark Zuckerberg and Google’s Sundar Pichai. All are set to appear.

Lawmakers have increasingly raised concerns that the four Big Tech firms have used their market position to squeeze out the competition and maintain market domination — all ultimately leading to negative consequences for consumers. This includes higher prices and fewer choices. All four companies are also being looked into by the U.S. Department of Justice (DOJ).

Amazon is expected to discuss the pandemic and how consumers are using digital channels to shop at major retailers, including Walmart, which is Amazon’s competitor. Reuters reported that Bezos will also likely mention third-party sellers who use the Amazon platform and their continued success.

Apple will face scrutiny over its App Store — and what players it allows in. According to Reuters, Apple will argue it does not have controlling market share for apps. On the other hand, it will argue that the App Store is for making sure its phones stay secure and reliable. App developers have complained about how their products are treated by the store and that important information, such as data about the phone’s location, aren’t shared.

Facebook will probably talk about its rivals when it comes to advertising, like Google and Amazon, and when it comes to social media, like Twitter and TikTok, Reuters reported. Zuckerberg could also reference Facebook’s prior call for the government to regulate privacy and social media content.

According to Reuters, it is unclear what arguments Google will make.

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