Apple, Google, Facebook, Amazon: The House’s Investigation into Big Tech Companies’ Monopolistic Strategies
Big tech companies, many people know well—Apple, Google, Facebook, and Amazon—have recently been under major scrutiny regarding the powers that they wield and how they may be defined as monopolies. “America’s biggest technology companies have leveraged their dominance to stamp out competition and stifle innovation,” states the Democrat-led panel from the house that looked at and questioned the CEOs of each company earlier this week.
One example is that, through the App Store, Apple has received major prosecution on whether they favored their own apps instead of leveling the playing field and making it a fair game for third-party platforms to promote their apps. Additionally, Google has been rumored to have been gatekeeping, similarly to Apple, by putting its own content ahead of other competitors, illustrating monopolistic power through their online search engine. With the power and size that comes with all of these companies, it is difficult to differentiate if they are using these responsibilities for the betterment of their clients or for themselves.
The Wall Street Journal concluded that “the Democratic staff report says all four companies wield monopoly power and criticizes U.S. antitrust enforcement agencies as failing to curb their dominance.” On the other hand, the New York Times says that it feels “overdone,” and that we need to acknowledge all of the good that these big tech companies have produced for not only the people of the United States, but also the economy.
In response to the report that the panel filed saying that, “our economy and democracy are at stake” if we do not do something to “reign in” these companies, antitrust lawsuits are predicted to be filed later this fall against the tech giants.
By: Josie Pitt
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