Congress Grills Big Tech Companies Over Competition, Money and Power

Companies such as Apple, Google, Facebook and Amazon have long enjoyed nearly unbridled growth and a mythic stature as once-scrappy startups -- born in garages and a dorm room and a road trip across the United States -- that grew up to dominate their rivals. But as they’ve grown more powerful, critics have also grown louder, questioning whether the companies stifle competition and innovation, and if their influence poses a danger to society.

An afternoon panel of the House Judiciary Committee focused on whether it’s time for Congress to rein in these companies, which are among the largest on Earth by several measures. Central to that case is whether their business practices run afoul of century-old laws originally designed to combat railroad and oil monopolies.

A panel of four mid-level executives from the companies countered that their firms continue to innovate, that they face vigorous competition on all fronts — including from one another — and, perhaps most of all, that they were not monopolists in any way, shape or form. Sutton said the company doesn’t use third-party sellers’ data to “directly compete” with them. Cicilline, affecting disbelief, twice reminded Sutton that he was under oath. “Amazon is a trillion-dollar company that runs an online platform with real-time data,” he said., a law professor at Columbia University who has advocated for more expansive antitrust enforcement, noted concerns about a fall in the number of startups being formed, and wondered aloud whether the U.S.

they forget cell phone service providers, Landline service providers, cable television service providers, internet service providers. these above mentioned have be raking in cash by the container ship amounts but doing little to nothing to upgrade as well as expand their services

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Big Tech executives testify before CongressCongress is about to grill reps from big tech companies like Apple and Facebook as part of an antitrust investigation into whether these companies have become too big. NBC’s Jacob Ward joins Stephanie Ruhle and Ali Velshi to explain why it could get heated.
Source: MSNBC - 🏆 469. / 51 Read more »

Congress Puts Big Tech in CrosshairsConcerns about the power of Big Tech echoed across the capital, with politicians in both parties demanding more regulatory scrutiny of four giant companies’ reach and plans for expansion. Google and FB freedom of speech doesnt exist. Twitter coming in 3rd. Concerns about the power of Big Tech echoed across the capital on Tuesday, with politicians in both parties demanding more regulatory scrutiny of four giant companies’ reach and plans for expansion. Ummmmm oh Shit Jason Riley u I found the connection to Armstrong. Jhc ok
Source: WSJ - 🏆 98. / 63 Read more »

Big Tech hearings; More bank earnings; Ryanair's Max problemToday’s top business headlines: - Libra faces bipartisan resistance - Amazon workers strike on Prime Day - Chipotle fully recovers from its E. coli problems - Historic first for Huggies You’d think you are in the news business the editor would check and double check tweets!!! Did you mean Libya or libra? Hahahahah No one give a s about CNN FAKE NEWS
Source: CNN - 🏆 4. / 95 Read more »

Lawmakers to grill big tech on Capitol HillBig tech companies head to Capitol Hill to face questions from lawmakers about whether they are too big. Politico’s Ben White joins Stephanie Ruhle to discuss what we can expect from executives from Apple, Amazon, Google, and Facebook today.
Source: MSNBC - 🏆 469. / 51 Read more »