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House Judiciary antitrust subcommittee Chair David Cicilline.
Photo: Kevin Dietsch-Pool/Getty Images

Buried in the one of the most chaotic news cycles of the year, earlier this week the House Judiciary Committee published a report based on its 15-month investigation into the antitrust potential of tech’s big four: Google, Apple, Facebook, and Amazon. “To put it 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 449-page report from the antitrust subcommittee states. “They not only wield tremendous power, but they also abuse it by charging exorbitant fees, imposing oppressive contract terms, and extracting valuable data from the people and businesses that rely on them.”

On the most recent episode of the New York podcast Pivot, co-hosts Kara Swisher and Scott Galloway consider the massive investigation and why the

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REUTERS/Mason Trinca


© REUTERS/Mason Trinca
REUTERS/Mason Trinca

  • House Democrats released a 449-page report on Tuesday based on the results of an investigation into whether Amazon, Facebook, Google, and Apple are engaging in anticompetitive practices.
  • In regards to Apple, much of the report focuses on accusations from developers saying that the tech giant’s App Store policies and rules make it difficult to compete in the marketplace.
  • The report cites conversations with app developers and Apple’s former director of App Store review among other resources.
  • Apple has refuted the accusations and conclusions made in the report, saying it doesn’t hold a monopoly and its rules are designed to enforce safety and trust in the App Store.
  • Still, the report suggests that the long-running issues developers have taken with Apple’s policies are far from being resolved. 
  • Visit Business Insider’s homepage for more stories.

House lawmakers have finally revealed the findings of their lengthy antitrust investigation

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Investors were dumping FAANG stocks again Friday and there just may be some very plausible explanations as to why that’s happening after an apparent rebound from a correction over and done with.

FAANG stocks fell 13% in a span of several weeks in September. Valuations were in re-rate mode as at-home growth services like cloud computing, data center storage, e-commerce and streaming may have seen a massive demand pulled forward from later years in the maturity cycle of these businesses. Friday, FAANG stocks were down more than 2% by 2:15 PM EDT. Cyclical stocks, on a day which employment figures missed estimates and caused some investor anxiety in the morning about the speed of the economic recovery, mostly rose. And the 10-Year Treasury yield rose to as much as 0.70% from 0.67%. That indicates growing inflation expectations, which indicates a recovering economy and means investors do not have to take

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