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The world’s richest man - Jeff Bezos - will be giving evidence, for the first time, to Congress later.
Mark Zuckerberg, Sundar Pichai and Tim Cook will also answer questions about ‘anti-trust’
Here’s why you should care - and some of the q's critics want answering:
THREAD 1/9
Mark Zuckerberg, Sundar Pichai and Tim Cook will also answer questions about ‘anti-trust’
Here’s why you should care - and some of the q's critics want answering:
THREAD 1/9
1. These companies are together worth $5 trillion.
Where other companies have struggled with Covid, they have thrived. Are they now too big to fail?
2/9
Where other companies have struggled with Covid, they have thrived. Are they now too big to fail?
2/9
Competition. All three have been accused of stifling competition using strategies like Copy/Acquire/Kill.
Are these shrewd business tactics? Or them using their muscle unfairly - at the expense of smaller businesses?
3/9
Are these shrewd business tactics? Or them using their muscle unfairly - at the expense of smaller businesses?
3/9
These companies have huge market dominance in their areas.
Around 90% of internet searches are on Google. Approx 40% of online retail is on Amazon etc… Is that too much?
4/9
Around 90% of internet searches are on Google. Approx 40% of online retail is on Amazon etc… Is that too much?
4/9
Apple charges up to 30% on apps that use its app store.
App developers argue: Where else do we go to sell our apps? Google and Apple run the vast majority of operating systems on smartphones. Is that a duopoly?
5/9
App developers argue: Where else do we go to sell our apps? Google and Apple run the vast majority of operating systems on smartphones. Is that a duopoly?
5/9
More than 2 billion people use Facebook, Instagram and WhatsApp.
Is it healthy to have just one company controlling so much of the world’s social media?
6/9
Is it healthy to have just one company controlling so much of the world’s social media?
6/9
In truth there are so many accusations around unfair advantages, the undermining of competition etc… it’s hard to get them all into just one thread.
There are probes around the world - including in the EU - looking into them.
7/9
There are probes around the world - including in the EU - looking into them.
7/9
Here are the likely defences:
1. Lots of these products are free - like Facebook or Google’s search engine. So how can we be hurting consumers?
2. There are loads of big global companies, why just focus on us?
3. Over-regulate us and you hand an advantage to Chinese tech
8/9
1. Lots of these products are free - like Facebook or Google’s search engine. So how can we be hurting consumers?
2. There are loads of big global companies, why just focus on us?
3. Over-regulate us and you hand an advantage to Chinese tech
8/9
The hearing starts at 12pm ET, 5pm BST.
The Congress committee will use the evidence to write a report which will give recommendations for how these tech giants should (or shouldn’t be) regulated.
This afternoon is a high stakes game.
The Congress committee will use the evidence to write a report which will give recommendations for how these tech giants should (or shouldn’t be) regulated.
This afternoon is a high stakes game.
