Context: The CEOs of Google, Apple, Amazon and Facebook are testifying before the U.S. House Judiciary Subcommittee on Antitrust, Commercial, and Administrative Law.
More on News:
- The committee prima facie accused the giants of manipulating the technological space using their money and data power.
- Heads of Google, Facebook, Amazon and Apple were convened to enquire about their alleged breach of trust pertaining to fair practices and data security laws.
- This gives them the edge to dominate their niche and impedes the rivals from becoming big.
- Generally the small companies are either bought by them ( Eg - Facebook bought instagram and whatsapp) or
- Their products are shunned from the the market in wake of privacy concerns
(Eg- There is an allegation on Apple that in order to promote its own app which allows parents to limit the screen time for kids, it has thrown out a rival app on the pretense of it not being safe).
Key takeaways from the proceedings
- Amazon questioned on use of sales data by private sellers
- Google accused of stealing content from Yelp
- Facebook’s acquisition of Instagram under scrutiny
- Apple wielded “an enormous amount of power” because of the coveted app marketplace
The committee just wants to ensure that free competition and data protection is respected by all throughout the U.S and the tech space is not monopolished by a few big companies.
Image Source: Indianexpress