Sumary of Did Big Tech Get Too Big? U.S. Crackdown Seeks Answer: QuickTake:
- By David McLaughlin | Bloomberg, The rise of global technology superstars Amazon, Apple, Facebook and Google created new challenges for the competition watchdogs who enforce antitrust laws..
- An anti-monopoly crackdown that began under President Donald Trump is expected to continue under President Joe Biden, who is surrounding himself with outspoken advocates for vigorous antitrust enforcement against U.S..
- Also late in 2020, the House Judiciary Committee antitrust subcommittee released a report accusing Apple, Amazon, Google and Facebook of abusing their market power..
- A bipartisan group of House lawmakers introduced legislation that would prohibit tech companies from owning a business that competes with other products or services on their platforms..
- since the first antitrust laws were passed in the late 19th century and includes measures that would toughen merger reviews for tech companies, prohibit them from offering certain products and services, and restrict how they treat other businesses that depend on their platforms..
- But under modern antitrust enforcement, those percentages alone aren’t enough to alarm regulators in the U.S., which long ago stopped equating big with bad….