Times are changing. This means some rules and policies need to change especially when it comes to technologies. Gadgets, platforms, and all kinds of tech come and go. For some markets, these products and services need some form of regulation when necessary. When it comes to the use of the Internet, the World Wide Web, and social media services, plenty of discussions are being opened especially when they involve the most popular brands like Apple, Alphabet (Google), Amazon, and Facebook.
The mentioned companies are being tagged as enjoying ‘monopoly power’ according to House Democrats. They recommend big changes that must be made especially after a 16-month long investigation into the competitive practices of these companies.
The House Judiciary subcommittee on antitrust recently finished its investigation. Findings and recommendations have been released. Mainly, they are ways on how to change the laws to fit the digital age according to our source.
The four Big Tech companies are said to be enjoying monopoly power. The Congress is saying revisions to antitrust laws must be made. There is a possibility that parts of the brands’ businesses will be separated. On the other side of the fence, the Republicans have expressed their objections to some of the proposals. Structural separations may be imposed and they are something the Republicans don’t want.
Some other recommendations include making it more difficult for these companies to acquire smaller brands, instructing antitrust agencies to presume mergers, prevent these platforms from preferencing own services, require these groups to make services compatible with competitive, allows users to share and transfer data, and even override “problematic precedents” in antitrust case law. The list also includes recommendations to strengthen private enforcement by removing limits on class-action lawsuits and forced-arbitration clauses, increasing budgets for the FTC and Department of Justice Antitrust Division, as well as, require the Federal Trade Commission to collect data on concentration regularly.
Google has already published a statement on the Democratic and Republican House Antitrust Subcommittee reports. Read on.
approach to competition. This is a developing story so let’s wait and see.