Apple, Facebook, Google, Amazon May Be Broken Up As Bill Approved
The days of four major tech companies controlling the entire world may be limited, as The House Judiciary Committee approved controversial antitrust legislation that could break up the giants.
The Ending Platforms Monopolies Act was introduced by Democrats and approved in a hearing that finished around 5am, AEST on Friday morning.
The bill “eliminates the ability of dominant platforms to leverage their control over across multiple business lines to self-preference and disadvantage competitors in ways that undermine free and fair competition.”
Antitrust Subcommittee Ranking Member Ken Buck wrote in a press statement: “Apple, Amazon, Facebook, and Google have prioritised power over innovation and harmed American businesses and consumers in the process.
“These companies have maintained monopoly power in the online marketplace by using a variety of anticompetitive behaviors to stifle competition.
“This legislation breaks up Big Tech’s monopoly power to control what Americans see and say online, and fosters an online market that encourages innovation and provides American small businesses with a fair playing field. Doing nothing is not an option, we must act now.”
All four companies are expected to fight the bill.