Democratic lawmakers are calling for the U.S. to rein in the power of Amazon, Apple, Facebook and Google, as well as overhauling U.S. antitrust law, in a sweeping report on the the dominance of Big Tech.
The 450-page report, released Tuesday by the House Antitrust Subcommittee, details a range of anticompetitive practices, charging the four companies with acting as gatekeepers, stifling competition, charging “exorbitant” fees and eroding democracy.
“Put simply, companies that once were scrappy, underdog startups that challenged the status quo have become the kinds of monopolies we last saw in the era of oil barons and railroad tycoons,” the report said.
The panel calls for sharply curtailing tech companies’ power, including force them to spin off their platforms from their other lines of business. This can be done by either splitting up tech companies or by limiting them to a single industry, according to the report.