Amazon, Apple, Google and Facebook are too powerful and will likely emerge from the coronavirus pandemic even stronger, the head of a US congressional antitrust committee said Wednesday, July 29, at a high-stakes hearing which featured a grilling of the CEOs of the four US tech giants.
"This power staves off new forms of competition, creativity, and innovation," Cicilline said."The dominant platforms have wielded their power in destructive, harmful ways in order to expand." While the hearing was called to focus on whether the companies have abused their dominant positions in the market, violating antitrust laws, it veered quickly into the hot topic of political bias.
"If Congress doesn't bring fairness to Big Tech, which they should have done years ago, I will do it myself with Executive Orders," Trump said."In Washington, it has been ALL TALK and NO ACTION for years, and the people of our Country are sick and tired of it!" Apple's Cook faced tough questioning over the market power of the company's App Store and its treatment of developers.Some lawmakers sought to play down the competitive harms of the companies, which have also won praise for innovating and introducing new technologies.
Bezos, in his first appearance before a congressional committee, defended Amazon's dealings with third-party sellers after a blistering attack from Cicilline. "I walked away from a steady job into a Seattle garage to found my startup, fully understanding that it might not work," said Bezos, the world's richest person.and added that"our story would not have been possible without US laws that encourage competition and innovation."whose success is only possible in this country," and that the California giant is"motivated by the mission to put things into the world that enrich people's lives.
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