WASHINGTON: The potential penalties for several wide-ranging investigations into whether Facebook, Google and other big U.S. tech companies used their market power unfairly include everything from breaking up the companies, to large fines and forcing them to create more competition.
Warren and other lawmakers argue big tech companies smother small businesses and start-ups that are a threat. Facebook critic and co-founder Chris Hughes says the social media company has too much power over speech and that it is willing to"sacrifice security and civility for clicks." Facebook, which also owns Instagram and Whatsapp, said it would do more to protect user privacy, but the overall deal was criticized by regulators and lawmakers for not doing enough to rein in Facebook's market power or make company executives accountable.
The idea, which is already part of European law, has the support of Representative David Cicilline, a Democrat who leads the House Judiciary Committee's antitrust subcommittee, and Senator Mark Warner.
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