US: Companies plead for Congress to regulate Apple, Amazon, Facebook and Google
Apple, Amazon, Facebook, and Google took a public lashing at a congressional hearing Friday, January 17, where some of their smaller rivals, including Sonos and Tile, pleaded with federal lawmakers to take swift action against Big Tech.
According to the Washing Post, Democrats and Republicans at times appeared stunned as they heard tales of technology giants wielding their massive footprints as weapons, allegedly copying smaller competitors’ features or tweaking their algorithms in ways that put new companies at a costly disadvantage. The testimony came as part of a wide-ranging antitrust probe into Silicon Valley’s biggest players that House lawmakers aim to wrap up in the coming months.
The pleas for regulatory relief resonated with lawmakers, led by Rep. David N. Cicilline (Democrat – Rhode Island), the chairman of the House’s top antitrust committee. “It has become clear these firms have tremendous power as gatekeepers to shape and control commerce online,” Cicilline said to open the session.
The hearing at the University of Colorado at Boulder put public faces on the pain caused by some of the largest tech companies in the United States. Cicilline and other lawmakers have sought to determine if federal antitrust law is sufficient to hold Silicon Valley leaders accountable — and whether changes to federal law are necessary to address anti-competitive concerns in search, smartphones, e-commerce and social networking.
“I think it’s clear there’s abuse in the marketplace and a need for action,” said Rep. Ken Buck (Republican – Colorado).
Full Content: Washington Post
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU’s Incoming Competition Head Pushes for Policy Shift to Support ‘European Champions
Sep 19, 2024 by
CPI
Google Challenges $217 Million Legal Fee Demand in Privacy Case
Sep 19, 2024 by
CPI
EU Moves to Enforce Apple’s Compliance with New Market Rules
Sep 19, 2024 by
CPI
California Attorney General Bonta Stands Firm Against Albertsons-Kroger Merger
Sep 19, 2024 by
CPI
New FTC Report Highlights Privacy Risks in Social Media Data Use
Sep 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández