Tag Archive : monopolies

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Jeff Bezos standing in front of a television: Amazon CEO Jeff Bezos testifies via video conference during the House Judiciary Subcommittee on Antitrust, Commercial and Administrative Law hearing on Online Platforms and Market Power in the Rayburn House office Building, July 29, 2020. Graeme Jennings-Pool/Getty Images


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Amazon CEO Jeff Bezos testifies via video conference during the House Judiciary Subcommittee on Antitrust, Commercial and Administrative Law hearing on Online Platforms and Market Power in the Rayburn House office Building, July 29, 2020. Graeme Jennings-Pool/Getty Images

  • Now that House Democrats have completed a sweeping antitrust investigation into Facebook, Apple, Amazon, and Google, they’re prepared to introduce new laws to curb the tech giants’ power.
  • The 449-page report published by the House Antitrust Subcommittee on Tuesday, as well as public statements by Democrats on the heels of the report, signal how they might go about changing the laws.
  • Antitrust court decisions in recent decades have focused on consumer welfare, but Democrats say laws need to be updated given that many tech companies don’t charge consumers for their products and have wide-ranging impacts on workers and other businesses.
  • Meanwhile, Republicans
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A House of Representatives panel in a report Tuesday accused four Big Tech firms of acting as “monopolies,” calling for sweeping changes to antitrust laws and enforcement that could potentially lead to breakups of the giant firms.

But the report by the House Judiciary Committee failed to win the endorsement of Republican members, highlighting a partisan divide despite widespread criticism of the tech giants.

The 449-page document concluded that Amazon, Apple, Facebook and Google “engage in a form of their own private quasi regulation that is unaccountable to anyone but themselves.”

“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 report follows an investigation of more than 15 months and hearings this year with the top executives of the four firms, in parallel to antitrust

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