4 Big Tech CEOs Getting Heat From Congress On Competition
Source: AP News
By Marcy Gordon, 29 mins ago.
WASHINGTON (AP) Four Big Tech CEOs Facebooks Mark Zuckerberg, Amazons Jeff Bezos, Sundar Pichai of Google and Tim Cook of Apple are set to answer for their companies practices before Congress as a House panel caps its yearlong investigation of market dominance in the industry.
The four command corporations with gold-plated brands, millions or even billions of customers, and a combined value greater than the entire German economy. One of them is the worlds richest individual (Bezos); another is the fourth-ranked billionaire (Zuckerberg). Their industry has transformed society, linked people around the globe, mined and commercialized users personal data, and infuriated critics on both the left and right over speech.
Critics question whether the companies, grown increasingly powerful after gobbling up scores of rivals, stifle competition and innovation, raise prices for consumers and pose a danger to society. The four CEOs are testifying remotely for a hearing Wednesday by the House Judiciary subcommittee on antitrust.
In its bipartisan investigation, the panel collected testimony from mid-level executives of the four firms, competitors and legal experts, and pored over more than a million internal documents from the companies. A key question: whether existing competition policies and century-old antitrust laws are adequate for overseeing the tech giants, or if new legislation and enforcement funding is needed...
Read more: https://apnews.com/25a4d18ae3989402f0ad23f38d8cfa23
cstanleytech
(26,363 posts)from competing with them as they do not own the internet where as the old AT&T owned the telephone lines.
denem
(11,045 posts)AllaN01Bear
(18,832 posts)in the tech market . microsoft was getting sued in court when one of the bushes pulled the plug and now no one touches microsoft for anti trust and so on except in europe there was a number of cases that stated ms was in the wrong. so quit just picking on apple .
delisen
(6,050 posts)Apple became a cult and their followers include too many worshipful cultists who do not demand quality or quality service and close their eyes to massive unjustified profits and tax avoidance and slave labor.
Just boxing up my crappy notebook for warranty work - overheating, startup issues and more. Problems Apple knew they had but put this piece of crap on the market anyway. Had the nerve to market to small businesses.
I bought my first Apple in 1980s. I stayed with them farr too long. My loyalty has cost me greatly.
Apple buyers trash Walmart and Ivanka Trump for slave labor practices and undue profits but ignore the same in Apple.