Five things to know about the Big Tech antitrust report
4 years, 2 months ago

Five things to know about the Big Tech antitrust report

Associated Press  

After years of calling Big Tech too big, Democratic lawmakers are calling for Congress to rein in Facebook, Google, Amazon and Apple by breaking them up, limiting future mergers and blocking self-dealing that could hurt competitors. BYE BYE, BUY BUY BUY The report attributes the “significant and durable market power” of the companies in large part to “a high volume of acquisitions.” This, it concludes, has led to fewer choices for consumers. Facebook “used its data advantage to create superior market intelligence to identify nascent competitive threats and then acquire, copy, or kill these firms,” the report states. Google, meanwhile, “maintained its monopoly over general search through a series of anticompetitive tactics” including an “an aggressive campaign to undermine vertical search providers.” The report suggests placing restrictions, potentially even a ban, on future acquisitions by the companies. ANOTHER REPORT Though the report was “bipartisan,” Republicans issued their own thoughts Tuesday in a report titled “A Third Way to Take on Big Tech.” Authored by Rep. Ken Buck of Colorado, it called for “targeted” enforcement of existing antitrust laws rather than “onerous and burdensome regulation that kills industry innovation.” It’s not hard to guess which option Big Tech would get behind if forced to choose.

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