Google and Facebook together scooped up almost $400 million more in Australian advertising revenue than five major domestic media outlets combined last year, underscoring the significant market power to be targeted in a new code of conduct forcing the tech titans to share their revenue.
In that calendar year, Seven West Media's revenue was $1.1 billion, Southern Cross Austereo's was $633 million and Prime Media's was $184 million.In the 2018-19 financial year, Nine Entertainment Co, the owner of this masthead, generated $1.48 billion in advertising revenue while News Corp Australia brought in $1.2 billion in advertising income and revenue from readers.In total, the revenue generated by the five media companies was about $4.
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'Setting the stage for a battle royale': Tech giants face tough questions at US antitrust hearingThe heads of Apple, Amazon, Facebook and Google faced an onslaught of criticism at a US antitrust hearing which could lay the groundwork for tougher regulation of the major internet platforms. They use companies headquartered in other countries to supplement their staffing. When there are payment problems, it’s taking an illegal amount of time to resolve. SBS The world needs to unite to hold them accountable. How they've been able to swallow smaller systems is NOT good.
Source: SBSNews - 🏆 3. / 89 Read more »
'Big tech is out to get conservatives': CEOs skewered in anti-trust hearing | Sky News AustraliaThe CEOs of America's largest tech firms have appeared before a congressional antitrust hearing as US lawmakers battled one another while grilling the sector's leaders about their market dominance.\n\nCongress expressed its fears they believed tech giants Google, Amazon, Facebook and Apple possessed far too much power, which was expected to only get worse as a result of the coronavirus pandemic.\n\n'Prior to the COVID-19 pandemic, these corporations already stood out as titans in our economy in the wake of COVID-19, however, they're likely to emerge stronger and more powerful than ever before,' Democratic Chair of the House antitrust subcommittee David Cicilline said.\n\nWhile Democrats and Republicans were largely bipartisan on the need to reign big tech in, they were at loggerheads about the political influence and interference of tech companies.\n\nOhio Republican Jim Jordan said he believed big tech was 'out to get conservatives', citing Google's censorship of right-leaning news and opinion sites.\n\n'I'll just cut to the chase, big tech it out to get conservatives. That's not a suspicion, that's not a hunch...that's a fact, Mr Jordan said. \n\n'Google removed the home pages of Breitbart in The Daily Caller. Just last night we learned Google has censored Breitbart so much, traffic has declined 99 per cent.\n\n'April 19th, 2020, Google and YouTube announce a policy censoring the content that conflicts with recommendations of the World Health Organization. Think about that.'\n\nFacebook's Mark Zuckerberg, Amazon's Jeff Bezos, Google's Sundar Pichai and Apple's Tim Cook - whose companies collectively represent about $5 trillion of market value - appeared via videoconference before the House Judiciary Committee's antitrust panel.\n\nMark Zuckerberg admitted Facebook censored and prohibited content that would 'lead to imminent risk of harm'.\n\n'Stating that there is a proven cure for COVID, when there is in fact none might encourage them to go take something that co Congress hates capitalism... A self inflicted US problem. You can't blame greed because greed is a human constant. Its how the US and any other culture controls greed is the problem.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
'They have too much power': Tech CEOs face heated questioning in CongressThe chief executives faced near-constant criticism from both Democrats and Republicans, but for different reasons. KnottMatthew And they are leftist, liberal, globalist woke looneys. KnottMatthew Won't make any difference unless you make anti competitive behaviour a criminal offense. People like this hide behind their corporation.
Source: smh - 🏆 6. / 80 Read more »
Tech giants roasted by rare unified United States Congress | Sky News AustraliaThe leaders of the world’s most powerful tech giants have been roasted by the United States Congress during a brutal antitrust hearing which exposed the damage online giants were doing to small businesses.\n\nIn a rare show of unity, Congress was united as it ripped into the heads of Google, Apple and Facebook for alleged anti-competitive behaviour.\n\nQuestions were centred around how to corral the influence of tech giants after a 13-month investigation which has uncovered more than 1.3 million documents related to anti-competitive behaviour.\n\nThe tone of questioning indicated the committee was looking for ways to reign in the tech giants to stop their monopolies from hurting smaller businesses.\n Obama ruled via Executive Orders, but Trump wants Congress to do ITS job. Unfortunately, it’s infested with Democrats who see their only job as being to destroy Trump! The social media platform giants seem to have accelerated a left-wing woke culture anti main stream and normal folk going about normal working lives. Social media appears to be a sponsored tool to bring about more social divide and hatred. These tech giants are one sided ‼️ .I saw this positive news about Trump and I thought crikey Sky must be under new management - then I realised it was SkyNewsAust reporting this lol
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Breaking up 'big tech' a big ask, says Magellan bossMagellan Financial Group boss Hamish Douglass says excessive regulation of the US tech titans could boost China's hopes of dominating the global technology race. That's because his fund is long loads of them, just talking his book. Let me guess - it would damage his hip pocket Trump probably only really wants to break them up because he knows how to take advantage of the the situation..
Source: smh - 🏆 6. / 80 Read more »
Tech giants defend their power during grilling at US anti-trust hearingSeveral technology titans have made an unprecedented joint appearance before a US congressional anti-trust committee. Break them all up. Tax owners at 99%. These are not the same as small business.
Source: SBSNews - 🏆 3. / 89 Read more »