BREAKING NEWS: Major Investigation Into Apple Google & Amazon
The US Justice Department is set to target, Apple, Google, Facebook and Amazon with an investigation as to whether they are stifling competition with their online platforms that dominate internet search, social media and retail services.
The Australian Competition and Consumer Commission recently finalised its own Digital Platforms Inquiry into the impact “digital search engines, social media platforms and other digital content aggregation platforms have on competition in media and advertising services markets”.
The ACCC’s report has been handed to the government but its findings are yet to be released publicly.
The WSJ claims that new antitrust inquiry is the strongest signal yet of US Attorney General William Barr’s deep interest in the tech sector, and it could ratchet up the already considerable regulatory pressures facing the top U.S. tech firms who platforms have been favouring the socialist leaning Democrats over President Trump.
The review is designed to go above and beyond recent plans for scrutinizing the tech sector that were crafted by the department and the Federal Trade Commission with the Justice Department taking the lead in what could be a major blow for these Companies who have also hurt traditional media Companies.
The Justice Department will examine issues including how the most dominant tech firms have grown in size and might and expanded their reach into additional businesses such as Apple with content and apps and Google in the hardware market.
“Without the discipline of meaningful market-based competition, digital platforms may act in ways that are not responsive to consumer demands,” Justice Department antitrust chief Makan Delrahim said in a statement. “The department’s antitrust review will explore these important issues.”
The Justice Department also is interested in how Big Tech has leveraged the powers that come with having very large networks of users, the department said.
Several of the tech companies have said they are highly innovative firms that create jobs and provide products and services that consumers love. There was no mention of how they crush competition.
hey have said they have rightly won their places at the top of the tech pyramid and have to compete fiercely to stay there.
The WSJ said that while the top tech firms were once the darlings of the public, attitudes have shifted as some consumers, and politicians on both the left and the right, have grown uncomfortable with how much power and influence they wield in the economy and society.
Some Democratic presidential candidates have called for the breakup of companies like Google and Facebook, while lawmakers of both parties have sounded alarm bells, though at times for different reasons. Some Republicans have voiced concerns about whether tech companies disfavor conservative voices, claims that industry leaders have denied.